239,324 Shares in Figure Technology Solutions, Inc. $FIGR Bought by Principal Financial Group Inc.

Principal Financial Group Inc. acquired a new stake in shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 239,324 shares of the company’s stock, valued at approximately $8,125,000.

Several other hedge funds also recently bought and sold shares of the company. WPG Advisers LLC lifted its holdings in shares of Figure Technology Solutions by 71.1% during the 1st quarter. WPG Advisers LLC now owns 934 shares of the company’s stock valued at $32,000 after buying an additional 388 shares during the last quarter. Global Retirement Partners LLC acquired a new position in Figure Technology Solutions in the fourth quarter worth approximately $25,000. Wells Fargo & Company MN raised its position in Figure Technology Solutions by 3.5% during the fourth quarter. Wells Fargo & Company MN now owns 18,429 shares of the company’s stock valued at $753,000 after acquiring an additional 616 shares in the last quarter. Strs Ohio bought a new position in Figure Technology Solutions during the fourth quarter valued at approximately $34,000. Finally, MetLife Investment Management LLC acquired a new stake in Figure Technology Solutions in the fourth quarter valued at approximately $35,000.

Analysts Set New Price Targets

FIGR has been the subject of several recent research reports. Keefe, Bruyette & Woods decreased their target price on shares of Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating for the company in a research report on Monday, July 13th. Sanford C. Bernstein reduced their price objective on shares of Figure Technology Solutions from $72.00 to $67.00 and set an “outperform” rating for the company in a research note on Monday, March 30th. Zacks Research upgraded shares of Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 14th. Piper Sandler cut their target price on Figure Technology Solutions from $75.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. Finally, Bank of America reduced their price target on Figure Technology Solutions from $34.00 to $31.00 in a research report on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.25.

Insider Activity at Figure Technology Solutions

In related news, Director June Ou sold 35,190 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $38.20, for a total transaction of $1,344,258.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Benjamin Tannenbaum sold 2,031 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $36.03, for a total value of $73,176.93. Following the sale, the chief executive officer owned 3,193,641 shares of the company’s stock, valued at approximately $115,066,885.23. The trade was a 0.06% 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. Over the last three months, insiders sold 335,657 shares of company stock valued at $11,878,284. 26.60% of the stock is owned by corporate insiders.

Figure Technology Solutions Price Performance

Shares of Figure Technology Solutions stock opened at $27.59 on Monday. The firm has a fifty day simple moving average of $30.98 and a 200-day simple moving average of $37.32. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.20. Figure Technology Solutions, Inc. has a 1-year low of $25.01 and a 1-year high of $78.00. The stock has a market capitalization of $5.04 billion and a price-to-earnings ratio of 47.57.

Figure Technology Solutions (NASDAQ:FIGR) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.01. The firm had revenue of $166.84 million for the quarter. On average, sell-side analysts expect that Figure Technology Solutions, Inc. will post 0.92 earnings per share for the current year.

About Figure Technology Solutions

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.