Wellington Management Group LLP Increases Stock Position in Figure Technology Solutions, Inc. $FIGR

Wellington Management Group LLP lifted its holdings in shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) by 26.5% in the second quarter, HoldingsChannel.com reports. The fund owned 277,624 shares of the company’s stock after acquiring an additional 58,100 shares during the period. Wellington Management Group LLP’s holdings in Figure Technology Solutions were worth $8,526,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Global Retirement Partners LLC purchased a new position in shares of Figure Technology Solutions during the 4th quarter valued at $25,000. Strs Ohio bought a new position in shares of Figure Technology Solutions in the fourth quarter valued at approximately $34,000. MetLife Investment Management LLC purchased a new position in shares of Figure Technology Solutions during the 4th quarter valued at $35,000. WPG Advisers LLC grew its position in Figure Technology Solutions by 71.1% during the first quarter. WPG Advisers LLC now owns 934 shares of the company’s stock worth $32,000 after buying an additional 388 shares in the last quarter. Finally, Johnson Financial Group Inc. purchased a new position in shares of Figure Technology Solutions during the fourth quarter worth about $41,000.

Figure Technology Solutions Trading Up 6.4%

NASDAQ:FIGR opened at $38.26 on Wednesday. Figure Technology Solutions, Inc. has a one year low of $24.11 and a one year high of $78.00. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.86 and a quick ratio of 1.86. The firm has a market capitalization of $7.10 billion and a price-to-earnings ratio of 41.14. The business has a fifty day moving average price of $32.16 and a 200-day moving average price of $32.74.

Figure Technology Solutions (NASDAQ:FIGR) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates 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. Sell-side analysts forecast that Figure Technology Solutions, Inc. will post 1.18 EPS for the current year.

Wall Street Analysts Forecast Growth

FIGR has been the subject of a number of recent research reports. Mizuho boosted their target price on Figure Technology Solutions from $45.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, May 14th. Weiss Ratings upgraded shares of Figure Technology Solutions from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 21st. Zacks Research upgraded shares of Figure Technology Solutions from a “hold” rating to a “strong-buy” rating in a report on Monday, August 17th. Keefe, Bruyette & Woods decreased their target price on 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. Finally, Piper Sandler decreased their price target on shares of Figure Technology Solutions from $75.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.62.

Insider Buying and Selling

In related news, CFO Minchung Kgil sold 8,000 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $38.69, for a total transaction of $309,520.00. Following the sale, the chief financial officer owned 483,651 shares in the company, valued at approximately $18,712,457.19. This represents a 1.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Stevens sold 47,650 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $31.38, for a total transaction of $1,495,257.00. Following the completion of the sale, the insider directly owned 376,599 shares of the company’s stock, valued at approximately $11,817,676.62. The trade was a 11.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 80,767 shares of company stock worth $2,542,154. Company insiders own 26.60% of the company’s stock.

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.