Figure Technology Solutions (NASDAQ:FIGR) Given New $44.00 Price Target at The Goldman Sachs Group

Figure Technology Solutions (NASDAQ:FIGR) had its price objective trimmed by The Goldman Sachs Group from $49.00 to $44.00 in a research note issued to investors on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities analysts also recently issued research reports about the stock. Texas Capital raised shares of Figure Technology Solutions to a “strong-buy” rating in a report on Thursday, January 29th. Bank of America lowered shares of Figure Technology Solutions from a “neutral” rating to an “underperform” rating and set a $42.00 price target for the company. in a report on Tuesday, February 3rd. Sanford C. Bernstein boosted their price objective on shares of Figure Technology Solutions from $54.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday, January 13th. Piper Sandler raised their target price on shares of Figure Technology Solutions from $55.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. Finally, Mizuho upped their target price on Figure Technology Solutions from $47.00 to $56.00 and gave the company an “outperform” rating in a report on Monday, November 17th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Figure Technology Solutions presently has a consensus rating of “Moderate Buy” and an average price target of $55.75.

Figure Technology Solutions Stock Up 17.6%

Shares of Figure Technology Solutions stock opened at $29.72 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.26 and a current ratio of 2.26. The company has a market capitalization of $5.23 billion and a price-to-earnings ratio of 87.41. Figure Technology Solutions has a fifty-two week low of $25.01 and a fifty-two week high of $78.00. The company has a 50-day moving average price of $47.70.

Figure Technology Solutions (NASDAQ:FIGR) last issued its earnings results on Thursday, February 26th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.07). The firm had revenue of $157.63 million during the quarter, compared to the consensus estimate of $158.00 million. The firm’s revenue for the quarter was up 90.7% on a year-over-year basis.

Figure Technology Solutions declared that its Board of Directors has initiated a share repurchase program on Thursday, February 26th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Figure Technology Solutions

In other news, CFO Minchung Kgil sold 32,994 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $35.05, for a total transaction of $1,156,439.70. Following the transaction, the chief financial officer directly owned 584,155 shares of the company’s stock, valued at approximately $20,474,632.75. This trade represents a 5.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David Todd Stevens sold 26,057 shares of the company’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $32.00, for a total transaction of $833,824.00. Following the completion of the sale, the insider directly owned 462,943 shares of the company’s stock, valued at $14,814,176. The trade was a 5.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 589,193 shares of company stock worth $22,325,347 over the last quarter.

Institutional Trading of Figure Technology Solutions

A number of institutional investors have recently made changes to their positions in the stock. Orland Properties Ltd acquired a new position in shares of Figure Technology Solutions during the third quarter valued at approximately $319,187,000. J Digital 6 LLC increased its position in shares of Figure Technology Solutions by 9.1% during the 4th quarter. J Digital 6 LLC now owns 3,276,587 shares of the company’s stock valued at $133,816,000 after purchasing an additional 274,145 shares during the period. Vanguard Group Inc. raised its stake in shares of Figure Technology Solutions by 17.9% in the 4th quarter. Vanguard Group Inc. now owns 2,974,853 shares of the company’s stock worth $121,493,000 after buying an additional 452,136 shares in the last quarter. Duquesne Family Office LLC bought a new stake in shares of Figure Technology Solutions in the 3rd quarter worth $76,989,000. Finally, Fred Alger Management LLC acquired a new stake in shares of Figure Technology Solutions in the fourth quarter valued at $67,386,000.

Figure Technology Solutions Company 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.