Baker Avenue Asset Management LP Invests $2.34 Million in Figure Technology Solutions, Inc. $FIGR

Baker Avenue Asset Management LP purchased a new stake in Figure Technology Solutions, Inc. (NASDAQ:FIGR) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 57,340 shares of the company’s stock, valued at approximately $2,342,000.

Other large investors have also recently bought and sold shares of the company. Orland Properties Ltd bought a new stake in Figure Technology Solutions in the 3rd quarter valued at $319,187,000. Vanguard Group Inc. increased its holdings in Figure Technology Solutions by 17.9% in the 4th quarter. Vanguard Group Inc. now owns 2,974,853 shares of the company’s stock worth $121,493,000 after purchasing an additional 452,136 shares in the last quarter. Duquesne Family Office LLC bought a new position in Figure Technology Solutions in the 3rd quarter valued at approximately $76,989,000. Pantera Capital Partners LP bought a new position in Figure Technology Solutions during the 3rd quarter worth $56,114,000. Finally, Capital World Investors acquired a new position in shares of Figure Technology Solutions in the third quarter worth approximately $50,918,000.

Figure Technology Solutions Stock Up 1.9%

Shares of NASDAQ:FIGR opened at $34.73 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a fifty day moving average of $35.05 and a 200 day moving average of $40.07. Figure Technology Solutions, Inc. has a 52-week low of $25.01 and a 52-week high of $78.00. The firm has a market capitalization of $6.34 billion and a PE ratio of 59.88.

Figure Technology Solutions (NASDAQ:FIGR) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $166.84 million during the quarter. As a group, research analysts anticipate that Figure Technology Solutions, Inc. will post 0.94 EPS for the current fiscal year.

Figure Technology Solutions announced that its board has initiated a stock buyback program on Thursday, February 26th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

FIGR has been the topic of several recent analyst reports. Sanford C. Bernstein dropped their price target on Figure Technology Solutions from $72.00 to $67.00 and set an “outperform” rating on the stock in a research note on Monday, March 30th. The Goldman Sachs Group lowered their target price on Figure Technology Solutions from $49.00 to $44.00 and set a “buy” rating on the stock in a research note on Monday, March 2nd. Keefe, Bruyette & Woods raised shares of Figure Technology Solutions from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, February 19th. Texas Capital raised Figure Technology Solutions to a “strong-buy” rating in a report on Thursday, January 29th. Finally, Zacks Research upgraded Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 14th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $53.63.

Insiders Place Their Bets

In other Figure Technology Solutions news, CFO Minchung Kgil sold 8,000 shares of the business’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $32.25, for a total value of $258,000.00. Following the completion of the sale, the chief financial officer directly owned 548,098 shares of the company’s stock, valued at $17,676,160.50. The trade was a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director June Ou sold 35,190 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $38.20, for a total value of $1,344,258.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 728,641 shares of company stock valued at $25,288,002 over the last 90 days. Company insiders own 26.60% of the company’s stock.

Figure Technology Solutions Company Profile

Figure is building the future of capital markets using blockchain-based technology. Figure’s proprietary technology powers next-generation lending, trading and investing activities in areas such as consumer credit and digital assets. Our application of the blockchain ledger allows us to better serve our end-customers, improve speed and efficiency, and enhance standardization and liquidity. Using our technology, we continue to develop dynamic, vertically-integrated marketplaces across the approximately $2 trillion consumer credit market and the rapidly growing approximately $4 trillion cryptocurrency and digital asset market.