Figure Technology Solutions, Inc. $FIGR Holdings Lowered by Waverly Advisors LLC

Waverly Advisors LLC reduced its stake in Figure Technology Solutions, Inc. (NASDAQ:FIGR) by 45.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,812 shares of the company’s stock after selling 25,191 shares during the period. Waverly Advisors LLC’s holdings in Figure Technology Solutions were worth $1,012,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. WPG Advisers LLC lifted its position in Figure Technology Solutions by 71.1% in the first quarter. WPG Advisers LLC now owns 934 shares of the company’s stock worth $32,000 after purchasing an additional 388 shares during the period. State of Wyoming increased its position in shares of Figure Technology Solutions by 14.8% during the 1st quarter. State of Wyoming now owns 3,864 shares of the company’s stock valued at $131,000 after purchasing an additional 498 shares during the period. Arcus Capital Partners LLC increased its position in shares of Figure Technology Solutions by 7.9% during the 1st 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 during the period. Global Retirement Partners LLC bought a new stake in shares of Figure Technology Solutions in the 4th quarter worth $25,000. Finally, Wells Fargo & Company MN lifted its holdings in shares of Figure Technology Solutions by 3.5% in the fourth quarter. Wells Fargo & Company MN now owns 18,429 shares of the company’s stock valued at $753,000 after buying an additional 616 shares during the period.

Figure Technology Solutions Stock Performance

Shares of FIGR stock opened at $24.91 on Friday. The company has a market capitalization of $4.55 billion and a price-to-earnings ratio of 42.95. Figure Technology Solutions, Inc. has a 1-year low of $24.28 and a 1-year high of $78.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.20. The stock’s fifty day simple moving average is $30.03 and its 200-day simple moving average is $36.39.

Figure Technology Solutions (NASDAQ:FIGR) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.01. The business had revenue of $166.84 million during the quarter. On average, sell-side analysts predict that Figure Technology Solutions, Inc. will post 0.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Michael Benjamin Tannenbaum sold 14,871 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $37.27, for a total transaction of $554,242.17. Following the transaction, the chief executive officer directly owned 3,193,641 shares of the company’s stock, valued at approximately $119,027,000.07. The trade was a 0.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Minchung Kgil sold 9,117 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $30.06, for a total transaction of $274,057.02. Following the completion of the transaction, the chief financial officer owned 507,651 shares in the company, valued at approximately $15,259,989.06. This represents a 1.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 155,463 shares of company stock worth $5,926,353 over the last ninety days. 26.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on FIGR. Zacks Research raised Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 14th. Wall Street Zen downgraded shares of Figure Technology Solutions from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Needham & Company LLC restated a “buy” rating and set a $55.00 price objective on shares of Figure Technology Solutions in a research report on Wednesday, July 8th. Weiss Ratings raised shares of Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 4th. Finally, Keefe, Bruyette & Woods dropped their price target on Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating on the stock in a report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Figure Technology Solutions presently has an average rating of “Moderate Buy” and an average target price of $50.25.

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.