Figure (Figr) stock jumps as Druckenmiller invests $77m, analysts raise price targets
Shares of Figure Technologies (FIGR), a blockchain-focused platform founded by SoFi co-founder Mike Cagney, climbed 15% on Monday after billionaire investor Stanley Druckenmiller disclosed a large new stake in the company.
The stock rose as high as $46.46 and was recently up 10% at $44.45. It has gained 44% since then NASDAQ DEBUT in September At a time when other crypto-related companies that have gone public this year are trading below their offering prices. Crypto markets have remained soft in recent months, dragging down valuations across the sector.
According to Duquesne Capital’s Latest 13F Filing On Friday, founder Druckenmiller added more than 2.1 million shares of the figure in the third quarter, a position that is now worth nearly $77 million and accounting for 1.9% of his portfolio.
Druckenmiller, a longtime hedge fund titan, is known for picking disruptive tech and macro trends early. His entry into the figure signals growing institutional interest in financial platforms that blend blockchain and AI to streamline consumer lending.
Analysts at Bank of America, Mizhou and Piper Sandler recently raised their price targets for the company, highlighting its transition to a “capital-light” lending model centered around home equity lines of credit (HELOC).
In its third-quarter earnings report, Figure said it now expects the Figure Connect platform to drive 60% of loan volume, up from 46% in the previous quarter.
Mizhou analyst Dan Dolev also pointed to the company’s new StableCoin strategy as a differentiator. Figure recently launched YLDS, a stablecoin with a yield on its proven blockchain, designed to address a potential capital outflow from traditional banks to the digital dollar.
