Whittier Trust Co. Purchases New Stake in Figure Technology Solutions, Inc. $FIGR

Whittier Trust Co. acquired a new position in Figure Technology Solutions, Inc. (NASDAQ:FIGR) in the first quarter, HoldingsChannel reports. The institutional investor acquired 71,797 shares of the company’s stock, valued at approximately $2,319,000.

Other institutional investors have also recently added to or reduced their stakes in the company. J Digital 6 LLC lifted its position in shares of Figure Technology Solutions by 9.1% in the 4th quarter. J Digital 6 LLC now owns 3,276,587 shares of the company’s stock worth $133,816,000 after buying an additional 274,145 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Figure Technology Solutions by 17.9% during the 4th quarter. Vanguard Group Inc. now owns 2,974,853 shares of the company’s stock valued at $121,493,000 after buying an additional 452,136 shares during the last quarter. Duquesne Family Office LLC acquired a new stake in Figure Technology Solutions during the third quarter worth about $76,989,000. Fred Alger Management LLC acquired a new stake in Figure Technology Solutions during the fourth quarter worth about $67,386,000. Finally, Pantera Capital Partners LP bought a new position in Figure Technology Solutions in the third quarter worth about $56,114,000.

Figure Technology Solutions Stock Down 9.8%

FIGR opened at $31.05 on Wednesday. The stock’s 50 day moving average price is $32.92 and its 200 day moving average price is $38.55. 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 stock has a market cap of $5.67 billion and a P/E ratio of 53.53. Figure Technology Solutions, Inc. has a 12 month low of $25.01 and a 12 month high of $78.00.

Figure Technology Solutions (NASDAQ:FIGR) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $166.84 million for the quarter. As a group, research analysts predict that Figure Technology Solutions, Inc. will post 0.94 earnings per share for the current year.

Insider Activity

In related news, insider David Todd Stevens sold 47,064 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider owned 406,051 shares in the company, valued at $17,196,259.85. This trade represents a 10.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Scott Cagney sold 67,840 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $35.19, for a total value of $2,387,289.60. Following the sale, the director directly owned 67,840 shares in the company, valued at approximately $2,387,289.60. The trade was a 50.00% 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 have sold 479,337 shares of company stock worth $16,910,863 in the last 90 days. 26.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Zacks Research raised Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 14th. Sanford C. Bernstein cut their price target on Figure Technology Solutions from $72.00 to $67.00 and set an “outperform” rating on the stock in a report on Monday, March 30th. Needham & Company LLC restated a “buy” rating and set a $55.00 price objective on shares of Figure Technology Solutions in a research report on Wednesday, May 13th. Mizuho upped their price objective on Figure Technology Solutions from $45.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, May 14th. Finally, Weiss Ratings upgraded Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 4th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $53.62.

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.