Endeavour Capital Advisors Inc. Takes $10.72 Million Position in Figure Technology Solutions, Inc. $FIGR

Endeavour Capital Advisors Inc. acquired a new position in shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 294,711 shares of the company’s stock, valued at approximately $10,719,000. Figure Technology Solutions accounts for approximately 3.2% of Endeavour Capital Advisors Inc.’s investment portfolio, making the stock its 12th largest position.

Several other institutional investors have also recently added to or reduced their stakes in FIGR. Readystate Asset Management LP purchased a new stake in Figure Technology Solutions in the third quarter valued at approximately $546,000. Zweig DiMenna Associates LLC purchased a new stake in shares of Figure Technology Solutions in the 3rd quarter valued at $10,711,000. Vanguard Group Inc. acquired a new position in Figure Technology Solutions during the 3rd quarter worth about $91,751,000. JPMorgan Chase & Co. purchased a new position in Figure Technology Solutions during the 3rd quarter valued at about $15,529,000. Finally, PNC Financial Services Group Inc. purchased a new stake in Figure Technology Solutions during the third quarter worth about $73,000.

Insider Buying and Selling

In related news, Director Michael Scott Cagney sold 200,058 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $39.40, for a total value of $7,882,285.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Minchung Kgil sold 32,994 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $35.05, for a total transaction of $1,156,439.70. Following the completion of the transaction, the chief financial officer owned 584,155 shares in the company, valued at $20,474,632.75. This represents a 5.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,352,573 shares of company stock valued at $48,731,291 over the last 90 days.

Figure Technology Solutions Trading Down 3.8%

Shares of FIGR opened at $35.50 on Thursday. The firm has a market cap of $6.25 billion and a price-to-earnings ratio of 104.41. The firm has a fifty day moving average price of $49.27. Figure Technology Solutions, Inc. has a twelve month low of $30.01 and a twelve month high of $78.00. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.26 and a quick ratio of 2.26.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Mizuho raised their price objective on shares of Figure Technology Solutions from $47.00 to $56.00 and gave the company an “outperform” rating in a research note on Monday, November 17th. Piper Sandler increased their target price on shares of Figure Technology Solutions from $55.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. The Goldman Sachs Group raised their price target 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. Keefe, Bruyette & Woods increased their price objective on Figure Technology Solutions from $52.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, January 8th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $71.00 target price on shares of Figure Technology Solutions in a report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Figure Technology Solutions currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.50.

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.