Figure Technology Solutions, Inc. $FIGR Shares Acquired by Granahan Investment Management LLC

Granahan Investment Management LLC increased its holdings in shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) by 40.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 935,400 shares of the company’s stock after purchasing an additional 269,882 shares during the quarter. Figure Technology Solutions accounts for approximately 1.5% of Granahan Investment Management LLC’s portfolio, making the stock its 17th biggest position. Granahan Investment Management LLC’s holdings in Figure Technology Solutions were worth $31,757,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vivaldi Capital Management LP purchased a new stake in Figure Technology Solutions in the 1st quarter valued at about $540,000. Maplelane Capital LLC purchased a new position in Figure Technology Solutions during the first quarter worth about $23,120,000. Sei Investments Co. boosted its stake in Figure Technology Solutions by 97.7% during the first quarter. Sei Investments Co. now owns 257,181 shares of the company’s stock worth $8,732,000 after buying an additional 127,120 shares during the period. Alamar Capital Management LLC acquired a new stake in shares of Figure Technology Solutions during the first quarter valued at about $646,000. Finally, State of Wyoming raised its stake in shares of Figure Technology Solutions by 14.8% in the 1st quarter. State of Wyoming now owns 3,864 shares of the company’s stock valued at $131,000 after acquiring an additional 498 shares during the period.

Analyst Ratings Changes

FIGR has been the topic of several recent analyst reports. Needham & Company LLC restated a “buy” rating and issued a $55.00 price objective on shares of Figure Technology Solutions in a report on Wednesday, July 8th. Piper Sandler dropped their target price on shares of Figure Technology Solutions from $75.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, July 15th. Weiss Ratings raised Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 4th. Keefe, Bruyette & Woods decreased their price target on Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating on the stock in a research note on Monday, July 13th. Finally, Mizuho raised their price target on Figure Technology Solutions from $45.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Figure Technology Solutions currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.25.

Figure Technology Solutions Price Performance

Shares of NASDAQ FIGR opened at $27.59 on Friday. 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 company has a market cap of $5.04 billion and a price-to-earnings ratio of 47.57. The stock’s 50-day moving average is $30.98 and its two-hundred day moving average is $37.43. Figure Technology Solutions, Inc. has a 1-year low of $25.01 and a 1-year high of $78.00.

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

Insider Transactions at Figure Technology Solutions

In other Figure Technology Solutions news, Director Michael Scott Cagney sold 35,190 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $38.20, for a total value of $1,344,258.00. Following the sale, the director directly owned 35,190 shares of the company’s stock, valued at approximately $1,344,258. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Todd Stevens sold 47,064 shares of the firm’s stock in a transaction on 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 $17,196,259.85. The trade was a 10.39% 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 have sold 335,657 shares of company stock valued at $11,878,284 over the last quarter. Insiders own 26.60% of the company’s stock.

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.