Maplelane Capital LLC Acquires New Shares in Figure Technology Solutions, Inc. $FIGR

Maplelane Capital LLC bought a new stake in Figure Technology Solutions, Inc. (NASDAQ:FIGR) during the 1st quarter, Holdings Channel reports. The fund bought 681,000 shares of the company’s stock, valued at approximately $23,120,000. Figure Technology Solutions makes up 0.8% of Maplelane Capital LLC’s holdings, making the stock its 25th largest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FIGR. WPG Advisers LLC raised its position in shares of Figure Technology Solutions by 71.1% in the 1st quarter. WPG Advisers LLC now owns 934 shares of the company’s stock valued at $32,000 after acquiring an additional 388 shares during the period. State of Wyoming boosted its stake in Figure Technology Solutions by 14.8% during the 1st quarter. State of Wyoming now owns 3,864 shares of the company’s stock worth $131,000 after acquiring an additional 498 shares during the last quarter. Arcus Capital Partners LLC increased its stake in Figure Technology Solutions by 7.9% in the first quarter. Arcus Capital Partners LLC now owns 7,400 shares of the company’s stock valued at $251,000 after purchasing an additional 541 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in Figure Technology Solutions in the fourth quarter worth $25,000. Finally, Wells Fargo & Company MN boosted its position in shares of Figure Technology Solutions by 3.5% during the fourth quarter. Wells Fargo & Company MN now owns 18,429 shares of the company’s stock worth $753,000 after purchasing an additional 616 shares in the last quarter.

Insiders Place Their Bets

In related news, insider David Todd Stevens sold 47,064 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $42.35, for a total value of $1,993,160.40. Following the completion of the transaction, the insider owned 406,051 shares of the company’s stock, valued at approximately $17,196,259.85. This trade represents a 10.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Benjamin Tannenbaum sold 2,031 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $36.03, for a total value of $73,176.93. Following the completion of the sale, the chief executive officer directly owned 3,193,641 shares of the company’s stock, valued at approximately $115,066,885.23. The trade was a 0.06% 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. Insiders have sold a total of 335,657 shares of company stock valued at $11,878,284 over the last 90 days. 26.60% of the stock is currently owned by company insiders.

Figure Technology Solutions Stock Performance

Shares of Figure Technology Solutions stock opened at $27.59 on Friday. The firm has a market cap of $5.04 billion and a price-to-earnings ratio of 47.57. The stock’s 50-day moving average is $30.98 and its 200-day moving average is $37.43. Figure Technology Solutions, Inc. has a one year low of $25.01 and a one year high of $78.00. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.90 and a quick ratio of 1.90.

Figure Technology Solutions (NASDAQ:FIGR) last announced its earnings results on Monday, May 11th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $166.84 million during the quarter. Equities analysts predict that Figure Technology Solutions, Inc. will post 0.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

FIGR has been the subject of several research analyst reports. Weiss Ratings raised shares of Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 4th. Keefe, Bruyette & Woods dropped their price objective on Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating on the stock in a research note on Monday, July 13th. Piper Sandler reduced their target price on Figure Technology Solutions from $75.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. Bank of America decreased their target price on Figure Technology Solutions from $34.00 to $31.00 in a research note on Thursday, April 2nd. Finally, Zacks Research upgraded Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.25.

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.