William Blair Investment Management LLC Buys Shares of 106,233 Figure Technology Solutions, Inc. $FIGR

William Blair Investment Management LLC bought a new stake in Figure Technology Solutions, Inc. (NASDAQ:FIGR) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 106,233 shares of the company’s stock, valued at approximately $4,339,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Global Retirement Partners LLC purchased a new position in Figure Technology Solutions in the 4th quarter valued at about $25,000. Strs Ohio purchased a new position in shares of Figure Technology Solutions during the 4th quarter worth about $34,000. Flagship Harbor Advisors LLC purchased a new position in shares of Figure Technology Solutions during the 4th quarter worth about $40,000. PNC Financial Services Group Inc. lifted its holdings in shares of Figure Technology Solutions by 69.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,379 shares of the company’s stock worth $138,000 after acquiring an additional 1,379 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Figure Technology Solutions during the 3rd quarter worth about $66,000.

Insider Transactions at Figure Technology Solutions

In other Figure Technology Solutions news, insider David Todd Stevens sold 49,708 shares of the stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $32.02, for a total value of $1,591,650.16. Following the completion of the sale, the insider owned 436,089 shares of the company’s stock, valued at $13,963,569.78. This trade represents a 10.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director June Ou sold 67,840 shares of Figure Technology Solutions stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $35.19, for a total transaction of $2,387,289.60. 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 728,641 shares of company stock worth $25,288,002 over the last 90 days. 26.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on FIGR shares. Bank of America cut their price objective on shares of Figure Technology Solutions from $34.00 to $31.00 in a report on Thursday, April 2nd. The Goldman Sachs Group cut their price objective 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, March 2nd. Keefe, Bruyette & Woods upgraded shares of Figure Technology Solutions from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, February 19th. Mizuho increased their price objective on shares of Figure Technology Solutions from $45.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. Finally, Texas Capital upgraded shares of Figure Technology Solutions to a “strong-buy” rating in a report on Thursday, January 29th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $53.63.

Figure Technology Solutions Trading Up 3.7%

Shares of FIGR opened at $35.22 on Wednesday. Figure Technology Solutions, Inc. has a 12 month low of $25.01 and a 12 month high of $78.00. The stock’s 50-day moving average is $35.07 and its two-hundred day moving average is $40.10. 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 $6.43 billion and a PE ratio of 60.72.

Figure Technology Solutions (NASDAQ:FIGR) last posted its earnings results on Monday, May 11th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The company had revenue of $166.84 million during the quarter. Equities analysts forecast that Figure Technology Solutions, Inc. will post 0.94 earnings per share for the current fiscal year.

Figure Technology Solutions announced that its Board of Directors has authorized a stock repurchase plan on Thursday, February 26th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to purchase up to 3.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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.