Whittier Trust Co. of Nevada Inc. Takes $1.22 Million Position in Figure Technology Solutions, Inc. $FIGR

Whittier Trust Co. of Nevada Inc. bought a new stake in Figure Technology Solutions, Inc. (NASDAQ:FIGR) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 37,701 shares of the company’s stock, valued at approximately $1,218,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Global Retirement Partners LLC purchased a new stake in Figure Technology Solutions during the 4th quarter valued at about $25,000. Strs Ohio acquired a new stake in shares of Figure Technology Solutions during the fourth quarter worth about $34,000. MetLife Investment Management LLC purchased a new stake in Figure Technology Solutions in the fourth quarter valued at approximately $35,000. Flagship Harbor Advisors LLC purchased a new stake in Figure Technology Solutions in the fourth quarter valued at approximately $40,000. Finally, Johnson Financial Group Inc. acquired a new position in Figure Technology Solutions in the 4th quarter worth approximately $41,000.

Analysts Set New Price Targets

Several brokerages have commented on FIGR. Mizuho lifted their price objective on shares of Figure Technology Solutions from $45.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, May 14th. Zacks Research upgraded shares of Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 14th. Bank of America reduced their target price on shares of Figure Technology Solutions from $34.00 to $31.00 in a report on Thursday, April 2nd. Needham & Company LLC restated a “buy” rating and set a $55.00 target price on shares of Figure Technology Solutions in a research report on Wednesday, May 13th. Finally, Weiss Ratings raised shares of Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 4th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.62.

Insider Buying and Selling

In other news, Director Michael Scott Cagney sold 67,840 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $35.19, for a total transaction of $2,387,289.60. Following the sale, the director directly owned 67,840 shares in the company, valued at $2,387,289.60. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a legal 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, CEO Michael Benjamin Tannenbaum sold 127,369 shares of the company’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $33.35, for a total value of $4,247,756.15. Following the completion of the transaction, the chief executive officer directly owned 3,250,466 shares of the company’s stock, valued at $108,403,041.10. The trade was a 3.77% decrease in their position. 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 479,337 shares of company stock valued at $16,910,863 in the last ninety days. Company insiders own 26.60% of the company’s stock.

Figure Technology Solutions Price Performance

Shares of NASDAQ FIGR opened at $31.05 on Wednesday. The stock has a market capitalization of $5.67 billion and a price-to-earnings ratio of 53.53. Figure Technology Solutions, Inc. has a 12 month low of $25.01 and a 12 month high of $78.00. The firm’s 50 day simple moving average is $32.92 and its 200-day simple moving average 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.

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 the consensus estimate of $0.17 by $0.01. The firm had revenue of $166.84 million during the quarter. Analysts expect that Figure Technology Solutions, Inc. will post 0.94 EPS for the current year.

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.