TB Alternative Assets Ltd. Makes New $27.84 Million Investment in Figure Technology Solutions, Inc. $FIGR

TB Alternative Assets Ltd. bought a new stake in Figure Technology Solutions, Inc. (NASDAQ:FIGR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 681,668 shares of the company’s stock, valued at approximately $27,839,000. Figure Technology Solutions makes up 4.6% of TB Alternative Assets Ltd.’s portfolio, making the stock its 7th biggest holding.

Several other hedge funds have also recently added to or reduced their stakes in the company. Federated Hermes Inc. acquired a new stake in Figure Technology Solutions during the 3rd quarter worth $8,183,000. Lisanti Capital Growth LLC purchased a new position in shares of Figure Technology Solutions in the third quarter worth about $3,780,000. JPMorgan Chase & Co. purchased a new position in shares of Figure Technology Solutions in the third quarter worth about $15,529,000. BIT Capital GmbH acquired a new position in Figure Technology Solutions during the third quarter worth about $7,718,000. Finally, Fidelity National Financial Inc. purchased a new stake in Figure Technology Solutions during the 3rd quarter valued at about $9,092,000.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Sanford C. Bernstein decreased their target price on shares of Figure Technology Solutions from $72.00 to $67.00 and set an “outperform” rating on the stock in a research note on Monday. Bank of America lowered Figure Technology Solutions from a “neutral” rating to an “underperform” rating and set a $42.00 price target for the company. in a research report on Tuesday, February 3rd. Needham & Company LLC reduced their price objective on Figure Technology Solutions from $71.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Weiss Ratings lowered Figure Technology Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, February 11th. Finally, Texas Capital upgraded Figure Technology Solutions to a “strong-buy” rating in a report on Thursday, January 29th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $53.75.

Figure Technology Solutions Stock Performance

Figure Technology Solutions stock opened at $32.89 on Thursday. Figure Technology Solutions, Inc. has a fifty-two week low of $25.01 and a fifty-two week high of $78.00. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.20 and a quick ratio of 2.20. The firm has a 50 day moving average of $38.59. The firm has a market cap of $5.84 billion and a P/E ratio of 82.23.

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

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

Insider Activity

In other news, insider David Todd Stevens sold 49,708 shares of the stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $32.02, for a total transaction of $1,591,650.16. Following the sale, the insider owned 436,089 shares of the company’s stock, valued at approximately $13,963,569.78. This represents a 10.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sachin Chand Jaitly sold 216,713 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $33.64, for a total transaction of $7,290,225.32. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 292,478 shares of company stock worth $9,715,699.

About Figure Technology Solutions

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.