Granahan Investment Management LLC Grows Stake in Figure Technology Solutions, Inc. $FIGR

Granahan Investment Management LLC increased its holdings in shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) by 45.1% during the fourth quarter, HoldingsChannel reports. The firm owned 665,518 shares of the company’s stock after buying an additional 206,924 shares during the period. Figure Technology Solutions comprises 1.2% of Granahan Investment Management LLC’s portfolio, making the stock its 26th biggest holding. Granahan Investment Management LLC’s holdings in Figure Technology Solutions were worth $27,180,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FIGR. Orland Properties Ltd bought a new position in shares of Figure Technology Solutions during the third quarter valued at $319,187,000. Vanguard Group Inc. bought a new position in shares of Figure Technology Solutions during the third quarter valued at $91,751,000. Duquesne Family Office LLC bought a new position in shares of Figure Technology Solutions during the third quarter valued at $76,989,000. Fred Alger Management LLC bought a new position in shares of Figure Technology Solutions during the fourth quarter valued at $67,386,000. Finally, Pantera Capital Partners LP bought a new position in shares of Figure Technology Solutions during the third quarter valued at $56,114,000.

Figure Technology Solutions Stock Up 2.3%

FIGR stock opened at $29.65 on Wednesday. Figure Technology Solutions, Inc. has a fifty-two week low of $25.01 and a fifty-two week high of $78.00. The business’s 50-day moving average is $34.30 and its two-hundred day moving average is $39.44. 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 company has a market cap of $5.41 billion and a price-to-earnings ratio of 51.12.

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

Figure Technology Solutions announced that its Board of Directors has approved a share repurchase program on Thursday, February 26th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to buy up to 3.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

FIGR has been the topic of a number of research analyst reports. Sanford C. Bernstein lowered their price target on Figure Technology Solutions from $72.00 to $67.00 and set an “outperform” rating on the stock in a report on Monday, March 30th. The Goldman Sachs Group lowered their price target on Figure Technology Solutions from $49.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. Mizuho upped their price target on Figure Technology Solutions from $45.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 price target on shares of Figure Technology Solutions in a report on Wednesday, May 13th. Finally, Zacks Research raised Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 14th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Figure Technology Solutions presently has a consensus rating of “Moderate Buy” and an average target price of $53.63.

Insiders Place Their Bets

In other Figure Technology Solutions news, insider David Todd Stevens sold 47,064 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $42.35, for a total value of $1,993,160.40. Following the completion of the sale, the insider owned 406,051 shares in the company, valued at $17,196,259.85. This represents a 10.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Scott Cagney sold 35,190 shares of the company’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $38.20, for a total value of $1,344,258.00. Following the completion of the sale, the director owned 35,190 shares of the company’s stock, valued at approximately $1,344,258. The trade was a 50.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 511,928 shares of company stock valued at $17,997,776. 26.60% of the stock is currently owned by corporate insiders.

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.