Ninepoint Partners LP Buys New Stake in Figure Technology Solutions, Inc. $FIGR

Ninepoint Partners LP acquired a new position in shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 24,293 shares of the company’s stock, valued at approximately $746,000.

A number of other large investors have also modified their holdings of the stock. Bank of New York Mellon Corp purchased a new stake in shares of Figure Technology Solutions during the 2nd quarter valued at about $10,875,000. Handelsbanken Fonder AB acquired a new position in Figure Technology Solutions during the 2nd quarter worth approximately $1,370,000. CTC Alternative Strategies Ltd. purchased a new position in Figure Technology Solutions in the 1st quarter worth approximately $511,000. Vestor Capital LLC boosted its holdings in Figure Technology Solutions by 2,908.7% in the 1st quarter. Vestor Capital LLC now owns 81,234 shares of the company’s stock worth $2,758,000 after acquiring an additional 78,534 shares during the period. Finally, Feynman Point Asset Management LLC acquired a new stake in Figure Technology Solutions in the first quarter valued at approximately $2,865,000.

Insiders Place Their Bets

In other news, CFO Minchung Kgil sold 9,117 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $30.06, for a total value of $274,057.02. Following the sale, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David Todd Stevens sold 47,650 shares of Figure Technology Solutions stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $31.38, for a total value of $1,495,257.00. Following the completion of the transaction, the insider owned 376,599 shares of the company’s stock, valued at $11,817,676.62. This trade represents a 11.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 72,767 shares of company stock worth $2,232,634 over the last quarter. 26.60% of the stock is currently owned by insiders.

Figure Technology Solutions Stock Performance

Shares of FIGR opened at $36.06 on Friday. The business’s 50 day moving average is $29.90 and its two-hundred day moving average is $32.97. Figure Technology Solutions, Inc. has a 52-week low of $24.11 and a 52-week high of $78.00. The firm has a market cap of $6.70 billion and a price-to-earnings ratio of 38.77. The company has a quick ratio of 1.90, a current ratio of 1.86 and a debt-to-equity ratio of 0.22.

Figure Technology Solutions (NASDAQ:FIGR) last released its earnings results on Thursday, August 13th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.24 by $0.11. Figure Technology Solutions had a return on equity of 18.90% and a net margin of 33.45%.The company had revenue of $218.45 million during the quarter. Analysts forecast that Figure Technology Solutions, Inc. will post 1.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on FIGR shares. Needham & Company LLC reissued a “buy” rating and set a $55.00 target price on shares of Figure Technology Solutions in a research report on Thursday. Sanford C. Bernstein lifted their price target on shares of Figure Technology Solutions from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Keefe, Bruyette & Woods cut their price objective on shares of Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating on the stock in a report on Monday, July 13th. Mizuho upped their price objective on shares of Figure Technology Solutions from $45.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Finally, Piper Sandler lowered their target price on Figure Technology Solutions from $75.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $50.62.

Figure Technology Solutions Company 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.