8,776,113 Shares in Figure Technology Solutions, Inc. $FIGR Purchased by Orland Properties Ltd

Orland Properties Ltd bought a new stake in Figure Technology Solutions, Inc. (NASDAQ:FIGR) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 8,776,113 shares of the company’s stock, valued at approximately $319,187,000. Figure Technology Solutions comprises about 68.3% of Orland Properties Ltd’s holdings, making the stock its biggest holding.

Other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. bought a new position in shares of Figure Technology Solutions during the 3rd quarter worth approximately $64,000. SBI Securities Co. Ltd. bought a new stake in shares of Figure Technology Solutions in the third quarter worth $66,000. PNC Financial Services Group Inc. acquired a new position in Figure Technology Solutions during the third quarter worth $73,000. Ameritas Advisory Services LLC acquired a new position in Figure Technology Solutions during the third quarter worth $200,000. Finally, Hennessy Advisors Inc. bought a new position in Figure Technology Solutions in the third quarter valued at $255,000.

Figure Technology Solutions Price Performance

Shares of FIGR opened at $30.48 on Friday. The company has a market cap of $5.37 billion and a P/E ratio of 76.20. The company has a 50-day moving average price of $46.53. Figure Technology Solutions, Inc. has a one year low of $25.01 and a one year high of $78.00. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 0.17.

Figure Technology Solutions (NASDAQ:FIGR) last issued its earnings results on Thursday, February 26th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07). The firm had revenue of $157.63 million for the quarter, compared to the consensus estimate of $158.00 million. The company’s revenue was up 90.7% compared to the same quarter last year.

Figure Technology Solutions announced that its Board of Directors has initiated a stock repurchase plan on Thursday, February 26th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to buy up to 3.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Figure Technology Solutions news, insider David Todd Stevens sold 26,057 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $32.00, for a total transaction of $833,824.00. Following the transaction, the insider owned 462,943 shares of the company’s stock, valued at $14,814,176. The trade was a 5.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director June Ou sold 200,058 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $39.40, for a total value of $7,882,285.20. The SEC filing for this sale provides additional information. Insiders have sold a total of 426,173 shares of company stock valued at $16,598,394 over the last 90 days.

Wall Street Analyst Weigh In

Several brokerages have commented on FIGR. The Goldman Sachs Group cut their price target on shares of Figure Technology Solutions from $49.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, March 2nd. Zacks Research cut Figure Technology Solutions from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 4th. Bank of America downgraded Figure Technology Solutions from a “neutral” rating to an “underperform” rating and set a $42.00 target price on the stock. in a research report on Tuesday, February 3rd. Texas Capital upgraded Figure Technology Solutions to a “strong-buy” rating in a report on Thursday, January 29th. Finally, Needham & Company LLC reduced their price target on Figure Technology Solutions from $71.00 to $55.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Figure Technology Solutions currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.75.

Figure Technology Solutions 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.