Whetstone Capital Advisors LLC Makes New Investment in Figure Technology Solutions, Inc. $FIGR

Whetstone Capital Advisors LLC acquired a new position in shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 225,948 shares of the company’s stock, valued at approximately $6,939,000. Figure Technology Solutions makes up about 1.8% of Whetstone Capital Advisors LLC’s investment portfolio, making the stock its 14th biggest holding. Whetstone Capital Advisors LLC owned approximately 0.12% of Figure Technology Solutions as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Global Retirement Partners LLC acquired a new stake in Figure Technology Solutions during the fourth quarter worth $25,000. Strs Ohio bought a new position in shares of Figure Technology Solutions during the 4th quarter worth about $34,000. MetLife Investment Management LLC bought a new position in shares of Figure Technology Solutions during the 4th quarter worth about $35,000. WPG Advisers LLC boosted its position 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 acquiring an additional 388 shares in the last quarter. Finally, Johnson Financial Group Inc. acquired a new stake in shares of Figure Technology Solutions during the 4th quarter valued at about $41,000.

Insiders Place Their Bets

In other news, CFO Minchung Kgil sold 9,117 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $30.06, for a total transaction of $274,057.02. Following the sale, the chief financial officer owned 507,651 shares in the company, valued at approximately $15,259,989.06. This represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider David Stevens sold 47,650 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $31.38, for a total value of $1,495,257.00. Following the completion of the sale, the insider owned 376,599 shares of the company’s stock, valued at approximately $11,817,676.62. This trade represents a 11.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 80,767 shares of company stock worth $2,542,154. Insiders own 26.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on FIGR. Wall Street Zen raised shares of Figure Technology Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Keefe, Bruyette & Woods decreased their price objective on Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating on the stock in a report on Monday, July 13th. Zacks Research raised Figure Technology Solutions from a “hold” rating to a “strong-buy” rating in a report on Monday, August 17th. Bank of America upgraded Figure Technology Solutions from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $31.00 to $49.00 in a research report on Wednesday. Finally, Weiss Ratings raised Figure Technology Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 21st. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Figure Technology Solutions presently has an average rating of “Moderate Buy” and a consensus target price of $52.88.

Figure Technology Solutions Stock Performance

NASDAQ FIGR opened at $38.12 on Thursday. Figure Technology Solutions, Inc. has a 1-year low of $24.11 and a 1-year high of $78.00. The company has a 50 day moving average of $32.26 and a 200-day moving average of $32.78. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.22. The firm has a market cap of $7.08 billion and a price-to-earnings ratio of 40.99.

Figure Technology Solutions (NASDAQ:FIGR) last announced its earnings results on Thursday, August 13th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.24 by $0.11. Figure Technology Solutions had a return on equity of 18.90% and a net margin of 33.45%.The business had revenue of $218.45 million for the quarter. On average, equities analysts forecast that Figure Technology Solutions, Inc. will post 1.18 earnings per share for the current fiscal 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.