Monashee Investment Management LLC Purchases New Position in Figure Technology Solutions, Inc. $FIGR

Monashee Investment Management LLC purchased a new stake in Figure Technology Solutions, Inc. (NASDAQ:FIGR) during the 1st quarter, HoldingsChannel.com reports. The fund purchased 76,520 shares of the company’s stock, valued at approximately $2,598,000. Figure Technology Solutions comprises 1.4% of Monashee Investment Management LLC’s portfolio, making the stock its 23rd largest holding.

Several other hedge funds have also recently bought and sold shares of FIGR. Cetera Investment Advisers grew its position in shares of Figure Technology Solutions by 32.8% in the first quarter. Cetera Investment Advisers now owns 24,346 shares of the company’s stock valued at $827,000 after purchasing an additional 6,013 shares during the last quarter. Militia Capital Management LLC bought a new position in shares of Figure Technology Solutions during the first quarter worth approximately $4,414,000. First Trust Advisors LP lifted its holdings in Figure Technology Solutions by 105.0% during the 1st quarter. First Trust Advisors LP now owns 196,777 shares of the company’s stock worth $6,681,000 after purchasing an additional 100,810 shares during the last quarter. Temasek Holdings Private Ltd bought a new stake in Figure Technology Solutions in the 1st quarter valued at $1,415,000. Finally, PNC Financial Services Group Inc. boosted its stake in Figure Technology Solutions by 51.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,128 shares of the company’s stock valued at $174,000 after purchasing an additional 1,749 shares during the period.

Insider Activity at Figure Technology Solutions

In related news, Director June Ou sold 35,190 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $38.20, for a total transaction of $1,344,258.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Minchung Kgil sold 4,000 shares of the stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $30.03, for a total transaction of $120,120.00. Following the sale, the chief financial officer owned 499,651 shares in the company, valued at $15,004,519.53. The trade was a 0.79% 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 a total of 343,657 shares of company stock worth $12,136,284 in the last quarter. 26.60% of the stock is currently owned by corporate insiders.

Figure Technology Solutions Trading Down 4.6%

Shares of NASDAQ:FIGR opened at $30.04 on Thursday. The company has a market capitalization of $5.49 billion and a P/E ratio of 51.79. Figure Technology Solutions, Inc. has a 1 year low of $25.01 and a 1 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. The business’s 50 day simple moving average is $31.57 and its 200 day simple moving average is $37.60.

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

Analyst Ratings Changes

FIGR has been the topic of several recent research reports. Bank of America lowered their price objective on Figure Technology Solutions from $34.00 to $31.00 in a research report on Thursday, April 2nd. Weiss Ratings raised shares of Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 4th. Zacks Research upgraded shares of Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 14th. Piper Sandler lowered their price target on shares of Figure Technology Solutions from $75.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 15th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $55.00 price objective on shares of Figure Technology Solutions in a research note on Wednesday, July 8th. One 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 given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.