123,423 Shares in Figure Technology Solutions, Inc. $FIGR Bought by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. acquired a new stake in Figure Technology Solutions, Inc. (NASDAQ:FIGR) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 123,423 shares of the company’s stock, valued at approximately $5,041,000.

Other large investors have also recently made changes to their positions in the company. Global Retirement Partners LLC bought a new position in shares of Figure Technology Solutions in the fourth quarter valued at $25,000. Strs Ohio bought a new position in shares of Figure Technology Solutions in the fourth quarter valued at $34,000. Flagship Harbor Advisors LLC bought a new position in shares of Figure Technology Solutions in the fourth quarter valued at $40,000. SBI Securities Co. Ltd. bought a new position in shares of Figure Technology Solutions in the third quarter valued at $66,000. Finally, PNC Financial Services Group Inc. bought a new position in shares of Figure Technology Solutions in the third quarter valued at $73,000.

Figure Technology Solutions Trading Down 5.5%

Shares of FIGR opened at $33.41 on Tuesday. The firm has a market cap of $6.10 billion and a price-to-earnings ratio of 57.60. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.90 and a current ratio of 1.90. Figure Technology Solutions, Inc. has a fifty-two week low of $25.01 and a fifty-two week high of $78.00. The firm has a 50 day moving average price of $35.09 and a 200-day moving average price of $40.04.

Figure Technology Solutions (NASDAQ:FIGR) last issued its 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 firm had revenue of $166.84 million during the quarter. As a group, equities research analysts forecast that Figure Technology Solutions, Inc. will post 0.94 earnings per share for the current year.

Figure Technology Solutions declared that its board has initiated a stock buyback plan on Thursday, February 26th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

FIGR has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods raised shares of Figure Technology Solutions from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, February 19th. Sanford C. Bernstein dropped their price target on shares of Figure Technology Solutions from $72.00 to $67.00 and set an “outperform” rating on the stock in a research report on Monday, March 30th. Bank of America dropped their price target on shares of Figure Technology Solutions from $34.00 to $31.00 in a research report on Thursday, April 2nd. Weiss Ratings upgraded shares of Figure Technology Solutions from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, May 18th. Finally, Needham & Company LLC restated a “buy” rating and set a $55.00 price objective on shares of Figure Technology Solutions in a report on Wednesday, May 13th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Figure Technology Solutions presently has an average rating of “Moderate Buy” and an average target price of $53.63.

Insider Buying and Selling at Figure Technology Solutions

In other news, Director June Ou sold 67,840 shares of the company’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $35.19, for a total value of $2,387,289.60. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Benjamin Tannenbaum sold 127,369 shares of the company’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $33.35, for a total transaction of $4,247,756.15. Following the completion of the sale, the chief executive officer directly owned 3,250,466 shares in the company, valued at $108,403,041.10. This represents a 3.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 728,641 shares of company stock worth $25,288,002. 26.60% of the stock is owned by corporate insiders.

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.