Elevation Point Wealth Partners LLC Invests $575,000 in Figure Technology Solutions, Inc. $FIGR

Elevation Point Wealth Partners LLC acquired a new stake in Figure Technology Solutions, Inc. (NASDAQ:FIGR) during the first quarter, Holdings Channel.com reports. The fund acquired 16,939 shares of the company’s stock, valued at approximately $575,000.

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on FIGR shares. Weiss Ratings upgraded Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 4th. Sanford C. Bernstein dropped their target price on shares of Figure Technology Solutions from $72.00 to $67.00 and set an “outperform” rating for the company in a report on Monday, March 30th. 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 decreased their price target on shares of Figure Technology Solutions from $34.00 to $31.00 in a report on Thursday, April 2nd. Finally, Mizuho upped their price objective on shares of Figure Technology Solutions from $45.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, May 14th. Two investment 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, Figure Technology Solutions presently has a consensus rating of “Moderate Buy” and an average price target of $53.62.

Figure Technology Solutions Stock Performance

NASDAQ:FIGR opened at $31.05 on Wednesday. The stock’s 50-day moving average is $32.92 and its 200-day moving average is $38.55. Figure Technology Solutions, Inc. has a 1-year low of $25.01 and a 1-year high of $78.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.20. The stock has a market cap of $5.67 billion and a P/E ratio of 53.53.

Figure Technology Solutions (NASDAQ:FIGR) last issued its quarterly earnings data 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 business had revenue of $166.84 million during the quarter. Equities research analysts anticipate that Figure Technology Solutions, Inc. will post 0.94 earnings per share for the current year.

Insider Activity

In other news, Director June Ou sold 67,840 shares of Figure Technology Solutions stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $35.19, for a total transaction of $2,387,289.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Todd Stevens sold 47,064 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $42.35, for a total transaction of $1,993,160.40. Following the completion of the sale, the insider directly owned 406,051 shares in the company, valued at approximately $17,196,259.85. This represents a 10.39% 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. In the last three months, insiders have sold 479,337 shares of company stock valued at $16,910,863. 26.60% of the stock is currently owned by company insiders.

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.