Zweig DiMenna Associates LLC Acquires New Shares in Figure Technology Solutions, Inc. $FIGR

Zweig DiMenna Associates LLC bought a new position in Figure Technology Solutions, Inc. (NASDAQ:FIGR) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 294,500 shares of the company’s stock, valued at approximately $10,711,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. purchased a new position in Figure Technology Solutions during the third quarter valued at approximately $91,751,000. JPMorgan Chase & Co. bought a new position in Figure Technology Solutions in the 3rd quarter valued at $15,529,000. Federated Hermes Inc. purchased a new position in shares of Figure Technology Solutions during the 3rd quarter valued at $8,183,000. Exchange Traded Concepts LLC bought a new position in shares of Figure Technology Solutions in the third quarter worth $5,963,000. Finally, Lisanti Capital Growth LLC purchased a new stake in shares of Figure Technology Solutions in the third quarter worth $3,780,000.

Figure Technology Solutions Stock Performance

Shares of FIGR opened at $35.29 on Tuesday. Figure Technology Solutions, Inc. has a fifty-two week low of $30.01 and a fifty-two week high of $78.00. The company has a market cap of $6.21 billion and a price-to-earnings ratio of 103.79. The business has a 50 day simple moving average of $49.43. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 0.17.

Analysts Set New Price Targets

FIGR has been the subject of several recent analyst reports. Piper Sandler boosted their target price on Figure Technology Solutions from $55.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. Zacks Research cut shares of Figure Technology Solutions from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Sanford C. Bernstein raised their target price on shares of Figure Technology Solutions from $54.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, January 13th. Mizuho increased their price target on shares of Figure Technology Solutions from $47.00 to $56.00 and gave the stock an “outperform” rating in a report on Monday, November 17th. Finally, The Goldman Sachs Group raised their price objective on shares of Figure Technology Solutions from $51.00 to $58.00 and gave the company a “buy” rating in a research report on Tuesday, January 13th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Figure Technology Solutions has a consensus rating of “Moderate Buy” and an average price target of $59.50.

Insiders Place Their Bets

In related news, insider David Todd Stevens sold 40,000 shares of the stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $35.22, for a total transaction of $1,408,800.00. Following the completion of the sale, the insider directly owned 489,000 shares in the company, valued at $17,222,580. This represents a 7.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Minchung Kgil sold 32,994 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $35.05, for a total value of $1,156,439.70. Following the completion of the sale, the chief financial officer owned 584,155 shares of the company’s stock, valued at $20,474,632.75. The trade was a 5.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 2,352,573 shares of company stock valued at $84,951,291 over the last three months.

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.