237,067 Shares in Figure Technology Solutions, Inc. $FIGR Acquired by Galileo PTC Ltd

Galileo PTC Ltd acquired a new position in Figure Technology Solutions, Inc. (NASDAQ:FIGR) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 237,067 shares of the company’s stock, valued at approximately $8,622,000. Figure Technology Solutions makes up approximately 0.8% of Galileo PTC Ltd’s holdings, making the stock its 4th biggest position. Galileo PTC Ltd owned about 0.11% of Figure Technology Solutions at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Voya Investment Management LLC purchased a new position in shares of Figure Technology Solutions in the 3rd quarter worth $721,000. Exchange Traded Concepts LLC purchased a new position in Figure Technology Solutions in the third quarter worth about $5,963,000. Blue Trust Inc. bought a new stake in shares of Figure Technology Solutions during the 3rd quarter valued at about $64,000. Hennessy Advisors Inc. purchased a new stake in shares of Figure Technology Solutions during the 3rd quarter valued at about $255,000. Finally, CWA Asset Management Group LLC bought a new position in shares of Figure Technology Solutions in the 3rd quarter worth approximately $1,412,000.

Wall Street Analysts Forecast Growth

FIGR has been the subject of a number of analyst reports. Mizuho upped their price target on Figure Technology Solutions from $47.00 to $56.00 and gave the stock an “outperform” rating in a research report on Monday, November 17th. Sanford C. Bernstein increased their target price on shares of Figure Technology Solutions from $54.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, January 13th. The Goldman Sachs Group lowered their price target on shares of Figure Technology Solutions from $49.00 to $44.00 and set a “buy” rating on the stock in a report on Monday. Piper Sandler lifted their target price on shares of Figure Technology Solutions from $55.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. Finally, Weiss Ratings downgraded Figure Technology Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, February 11th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Figure Technology Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $55.75.

Insiders Place Their Bets

In other Figure Technology Solutions news, Director Michael Scott Cagney sold 200,058 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $39.40, for a total value of $7,882,285.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David Todd Stevens sold 26,057 shares of the firm’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $32.00, for a total value of $833,824.00. Following the completion of the transaction, the insider owned 462,943 shares of the company’s stock, valued at $14,814,176. This trade represents a 5.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 426,173 shares of company stock worth $16,598,394 over the last quarter.

Figure Technology Solutions Stock Up 7.1%

FIGR opened at $30.49 on Thursday. The firm’s fifty day simple moving average is $47.08. The stock has a market cap of $5.37 billion and a PE ratio of 89.68. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 0.17. Figure Technology Solutions, Inc. has a 52-week low of $25.01 and a 52-week high of $78.00.

Figure Technology Solutions (NASDAQ:FIGR) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07). The firm had revenue of $157.63 million during the quarter, compared to analyst estimates of $158.00 million. The business’s quarterly revenue was up 90.7% on a year-over-year basis.

Figure Technology Solutions declared that its board has authorized a share repurchase plan on Thursday, February 26th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to buy up to 3.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

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.