Granahan Investment Management LLC Raises Position in Figure Technology Solutions, Inc. $FIGR

Granahan Investment Management LLC boosted its position in shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) by 40.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 935,400 shares of the company’s stock after buying an additional 269,882 shares during the period. Figure Technology Solutions accounts for about 1.5% of Granahan Investment Management LLC’s portfolio, making the stock its 17th largest holding. Granahan Investment Management LLC owned 0.51% of Figure Technology Solutions worth $31,757,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Global Retirement Partners LLC acquired a new stake in shares of Figure Technology Solutions in the fourth quarter worth approximately $25,000. Strs Ohio purchased a new stake in shares of Figure Technology Solutions during the fourth quarter worth approximately $34,000. MetLife Investment Management LLC acquired a new position in Figure Technology Solutions in the 4th quarter valued at $35,000. WPG Advisers LLC raised its stake in 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 purchasing an additional 388 shares during the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new position in Figure Technology Solutions in the 4th quarter valued at $40,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on FIGR shares. Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 target price on shares of Figure Technology Solutions in a research note on Wednesday, July 8th. Bank of America lowered their price target on shares of Figure Technology Solutions from $34.00 to $31.00 in a research report on Thursday, April 2nd. Keefe, Bruyette & Woods dropped their price objective on shares of Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating for the company in a research note on Monday, July 13th. Weiss Ratings upgraded shares of Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 4th. Finally, Piper Sandler decreased their target price on shares of Figure Technology Solutions from $75.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.25.

Insider Activity

In other Figure Technology Solutions news, CFO Minchung Kgil sold 4,000 shares of Figure Technology Solutions stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $30.03, for a total transaction of $120,120.00. Following the transaction, the chief financial officer directly owned 499,651 shares of the company’s stock, valued at $15,004,519.53. The trade was a 0.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Todd Stevens sold 47,064 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $42.35, for a total transaction of $1,993,160.40. Following the completion of the transaction, the insider owned 406,051 shares in the company, valued at $17,196,259.85. The trade was a 10.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 335,657 shares of company stock valued at $11,878,284 in the last quarter. Insiders own 26.60% of the company’s stock.

Figure Technology Solutions Stock Down 5.6%

Shares of NASDAQ:FIGR opened at $27.59 on Friday. Figure Technology Solutions, Inc. has a 52-week low of $25.01 and a 52-week high of $78.00. The stock has a market cap of $5.04 billion and a P/E ratio of 47.57. The business has a fifty day moving average of $30.98 and a two-hundred day moving average of $37.43. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.20.

Figure Technology Solutions (NASDAQ:FIGR) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.17 by $0.01. The company had revenue of $166.84 million for the quarter. On average, research analysts expect that Figure Technology Solutions, Inc. will post 0.92 earnings per share for the current year.

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.