Figure Technology Solutions (NASDAQ:FIGR) Stock Price Up 8.8% – Here’s What Happened

Figure Technology Solutions, Inc. (NASDAQ:FIGR)’s share price rose 8.8% on Tuesday . The stock traded as high as $38.46 and last traded at $38.41. Approximately 3,623,048 shares traded hands during trading, a decline of 20% from the average daily volume of 4,530,669 shares. The stock had previously closed at $35.29.

Wall Street Analyst Weigh In

FIGR has been the subject of a number of analyst reports. Sanford C. Bernstein raised their price target on shares of Figure Technology Solutions from $54.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 13th. Keefe, Bruyette & Woods raised their target price on Figure Technology Solutions from $52.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, January 8th. Zacks Research downgraded shares of Figure Technology Solutions from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 4th. The Goldman Sachs Group upped their target price on shares of Figure Technology Solutions from $51.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. Finally, Piper Sandler lifted their price target on shares of Figure Technology Solutions from $55.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $59.50.

Figure Technology Solutions Price Performance

The company has a debt-to-equity ratio of 0.17, a current ratio of 2.26 and a quick ratio of 2.26. The company has a market capitalization of $6.50 billion and a price-to-earnings ratio of 108.56. The firm’s 50 day moving average is $49.36.

Insider Activity at Figure Technology Solutions

In related news, Director Michael Scott Cagney sold 200,058 shares of Figure Technology Solutions stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $39.40, for a total value of $7,882,285.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director June Ou sold 200,058 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $39.40, for a total transaction of $7,882,285.20. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 2,352,573 shares of company stock valued at $84,951,291 over the last quarter.

Hedge Funds Weigh In On Figure Technology Solutions

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Global Retirement Partners LLC bought a new stake in shares of Figure Technology Solutions during the 4th quarter valued at $25,000. Wells Fargo & Company MN grew its stake in shares of Figure Technology Solutions by 3.5% during the fourth quarter. Wells Fargo & Company MN now owns 18,429 shares of the company’s stock worth $753,000 after purchasing an additional 616 shares during the period. Strs Ohio bought a new stake in Figure Technology Solutions in the fourth quarter valued at about $34,000. MetLife Investment Management LLC acquired a new position in Figure Technology Solutions in the fourth quarter valued at about $35,000. Finally, Flagship Harbor Advisors LLC bought a new position in Figure Technology Solutions during the fourth quarter worth about $40,000.

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.