Whittier Trust Co. Makes New Investment in Figure Technology Solutions, Inc. $FIGR

Whittier Trust Co. acquired a new stake in Figure Technology Solutions, Inc. (NASDAQ:FIGR) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 71,797 shares of the company’s stock, valued at approximately $2,319,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Global Retirement Partners LLC acquired a new position in shares of Figure Technology Solutions during the 4th quarter valued at about $25,000. Strs Ohio acquired a new stake in shares of Figure Technology Solutions in the fourth quarter worth approximately $34,000. MetLife Investment Management LLC purchased a new stake in Figure Technology Solutions in the fourth quarter valued at approximately $35,000. Flagship Harbor Advisors LLC acquired a new position in Figure Technology Solutions during the fourth quarter worth approximately $40,000. Finally, Johnson Financial Group Inc. purchased a new position in Figure Technology Solutions during the fourth quarter worth approximately $41,000.

Figure Technology Solutions Trading Down 9.8%

Shares of FIGR opened at $31.05 on Wednesday. Figure Technology Solutions, Inc. has a one year low of $25.01 and a one year high of $78.00. The stock has a 50-day moving average price of $32.92 and a 200 day moving average price of $38.55. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market capitalization of $5.67 billion and a P/E ratio of 53.53.

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 business had revenue of $166.84 million during the quarter. Sell-side analysts forecast that Figure Technology Solutions, Inc. will post 0.94 EPS for the current fiscal year.

Insider Transactions at Figure Technology Solutions

In other news, Director June Ou sold 35,190 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $38.20, for a total value of $1,344,258.00. The transaction was disclosed in a filing 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, insider David Todd Stevens sold 47,064 shares of the company’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 sale, the insider owned 406,051 shares in the company, valued at approximately $17,196,259.85. This trade represents a 10.39% decrease in their position. 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 479,337 shares of company stock valued at $16,910,863 over the last ninety days. 26.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Zacks Research upgraded Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 14th. Weiss Ratings upgraded Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 4th. Sanford C. Bernstein decreased their target price on Figure Technology Solutions from $72.00 to $67.00 and set an “outperform” rating for the company in a research report on Monday, March 30th. Bank of America lowered their target price on Figure Technology Solutions from $34.00 to $31.00 in a research note on Thursday, April 2nd. Finally, Mizuho raised their target price on Figure Technology Solutions from $45.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $53.62.

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.