Figure Technology Solutions (NASDAQ:FIGR) Shares Up 7.4% – What’s Next?

Figure Technology Solutions, Inc. (NASDAQ:FIGR)’s stock price shot up 7.4% on Wednesday . The company traded as high as $32.42 and last traded at $31.94. 1,359,117 shares traded hands during trading, a decline of 71% from the average session volume of 4,702,705 shares. The stock had previously closed at $29.75.

Analyst Ratings Changes

A number of brokerages have commented on FIGR. Zacks Research lowered shares of Figure Technology Solutions from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Bank of America lowered shares of Figure Technology Solutions from a “neutral” rating to an “underperform” rating and set a $42.00 target price on the stock. in a report on Tuesday, February 3rd. Piper Sandler lifted their price target on Figure Technology Solutions from $55.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. Keefe, Bruyette & Woods raised Figure Technology Solutions from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, February 19th. Finally, The Goldman Sachs Group lifted their target price on Figure Technology Solutions from $51.00 to $58.00 and gave the company a “buy” rating in a research report on Tuesday, January 13th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $59.50.

Figure Technology Solutions Stock Performance

The firm has a market cap of $6.14 billion and a PE ratio of 102.50. The stock’s 50 day simple moving average is $48.51. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 0.17.

Insider Transactions at Figure Technology Solutions

In related news, CEO Michael Benjamin Tannenbaum sold 90,026 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $35.12, for a total transaction of $3,161,713.12. Following the sale, the chief executive officer directly owned 3,641,903 shares in the company, valued at approximately $127,903,633.36. This represents a 2.41% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider David Todd Stevens sold 40,000 shares of the business’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $35.22, for a total transaction of $1,408,800.00. Following the sale, the insider directly owned 489,000 shares in the company, valued at $17,222,580. The trade was a 7.56% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 723,136 shares of company stock valued at $27,113,723.

Institutional Trading of Figure Technology Solutions

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Orland Properties Ltd bought a new position in shares of Figure Technology Solutions during the 3rd quarter valued at about $319,187,000. J Digital 6 LLC boosted its stake in Figure Technology Solutions by 9.1% in the fourth quarter. J Digital 6 LLC now owns 3,276,587 shares of the company’s stock worth $133,816,000 after buying an additional 274,145 shares in the last quarter. Vanguard Group Inc. grew its position in Figure Technology Solutions by 17.9% during the fourth quarter. Vanguard Group Inc. now owns 2,974,853 shares of the company’s stock valued at $121,493,000 after acquiring an additional 452,136 shares during the last quarter. Duquesne Family Office LLC purchased a new position in shares of Figure Technology Solutions during the third quarter worth approximately $76,989,000. Finally, Fred Alger Management LLC bought a new position in shares of Figure Technology Solutions during the 4th 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.