Figure Technology Solutions, Inc. (NASDAQ:FIGR) Receives $50.38 Average Target Price from Brokerages

Shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) have been assigned a consensus rating of “Moderate Buy” from the ten ratings firms that are presently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $50.3750.

A number of analysts recently issued reports on FIGR shares. Keefe, Bruyette & Woods boosted their price objective on Figure Technology Solutions from $48.50 to $52.00 and gave the company an “outperform” rating in a research note on Tuesday, November 18th. Bank of America upped their price target on Figure Technology Solutions from $41.00 to $47.00 and gave the company a “neutral” rating in a research report on Monday, November 17th. Jefferies Financial Group began coverage on shares of Figure Technology Solutions in a report on Monday, October 6th. They issued a “hold” rating and a $40.00 price target on the stock. Zacks Research raised shares of Figure Technology Solutions to a “hold” rating in a research note on Tuesday, October 7th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $51.00 target price on shares of Figure Technology Solutions in a research note on Monday, November 17th.

Figure Technology Solutions Stock Performance

NASDAQ FIGR opened at $45.24 on Friday. The company has a 50 day simple moving average of $38.92. Figure Technology Solutions has a 12-month low of $30.01 and a 12-month high of $49.50.

Figure Technology Solutions (NASDAQ:FIGR) last released its quarterly earnings data on Thursday, November 13th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.18. The business had revenue of $156.03 million during the quarter.

Insider Buying and Selling

In related news, insider David Todd Stevens sold 40,000 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $35.22, for a total transaction of $1,408,800.00. Following the completion of the transaction, the insider directly owned 489,000 shares in the company, valued at $17,222,580. The trade was a 7.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael Scott Cagney sold 200,058 shares of the company’s 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 SEC filing for this sale provides additional information. Insiders have sold a total of 3,344,073 shares of company stock valued at $123,816,526 in the last ninety days.

Institutional Investors Weigh In On Figure Technology Solutions

Several hedge funds have recently bought and sold shares of FIGR. Blue Trust Inc. bought a new position in shares of Figure Technology Solutions in the 3rd quarter worth $64,000. SBI Securities Co. Ltd. purchased a new position in Figure Technology Solutions in the third quarter worth $66,000. PNC Financial Services Group Inc. bought a new position in Figure Technology Solutions in the third quarter valued at $73,000. BNP Paribas Financial Markets bought a new stake in Figure Technology Solutions during the third quarter worth about $102,000. Finally, Ameritas Advisory Services LLC purchased a new position in shares of Figure Technology Solutions in the 3rd quarter worth about $200,000.

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.