Next Century Growth Investors LLC Takes Position in Figure Technology Solutions, Inc. $FIGR

Next Century Growth Investors LLC bought a new stake in shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 157,017 shares of the company’s stock, valued at approximately $6,413,000. Next Century Growth Investors LLC owned about 0.09% of Figure Technology Solutions as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the business. Barclays PLC grew its stake in shares of Figure Technology Solutions by 132.4% during the fourth quarter. Barclays PLC now owns 39,976 shares of the company’s stock valued at $1,633,000 after buying an additional 22,776 shares during the last quarter. Kestra Advisory Services LLC bought a new position in Figure Technology Solutions in the fourth quarter worth approximately $60,000. The Manufacturers Life Insurance Company bought a new position in Figure Technology Solutions in the fourth quarter worth approximately $229,000. Walleye Capital LLC grew its stake in Figure Technology Solutions by 4.0% in the fourth quarter. Walleye Capital LLC now owns 139,733 shares of the company’s stock worth $5,707,000 after purchasing an additional 5,405 shares in the last quarter. Finally, UMB Bank n.a. bought a new position in Figure Technology Solutions in the fourth quarter worth approximately $97,000.

Insider Activity at Figure Technology Solutions

In other Figure Technology Solutions news, Director Michael Scott Cagney sold 35,190 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $38.20, for a total transaction of $1,344,258.00. Following the completion of the sale, the director owned 35,190 shares in the company, valued at $1,344,258. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director June Ou sold 35,190 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $38.20, for a total value of $1,344,258.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 511,928 shares of company stock valued at $17,997,776 over the last 90 days. Insiders own 26.60% of the company’s stock.

Figure Technology Solutions Price Performance

Figure Technology Solutions stock opened at $27.93 on Monday. The business has a fifty day moving average of $34.50 and a two-hundred day moving average of $39.52. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.20. The firm has a market cap of $5.10 billion and a P/E ratio of 48.16. Figure Technology Solutions, Inc. has a twelve month low of $25.01 and a twelve month high of $78.00.

Figure Technology Solutions (NASDAQ:FIGR) last posted its earnings results on Monday, May 11th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The company had revenue of $166.84 million for the quarter. On average, 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 approved 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 buy up to 3.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

FIGR has been the topic of several research analyst reports. The Goldman Sachs Group dropped their price objective on Figure Technology Solutions from $49.00 to $44.00 and set a “buy” rating on the stock in a research note on Monday, March 2nd. Zacks Research raised Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 14th. Bank of America dropped their price objective on Figure Technology Solutions from $34.00 to $31.00 in a research note on Thursday, April 2nd. Mizuho increased 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 raised Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 4th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.63.

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.