Figure Technology Solutions, Inc. (NASDAQ:FIGR) Given Consensus Recommendation of “Moderate Buy” by Analysts

Figure Technology Solutions, Inc. (NASDAQ:FIGR) has been assigned an average rating of “Moderate Buy” from the eleven analysts that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and two have given a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $53.6250.

A number of research firms have recently weighed in on FIGR. Weiss Ratings upgraded shares of Figure Technology Solutions from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, May 18th. Mizuho increased their price objective on shares of Figure Technology Solutions from $45.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, May 14th. Sanford C. Bernstein cut their price objective on shares of Figure Technology Solutions from $72.00 to $67.00 and set an “outperform” rating on the stock in a research note on Monday, March 30th. Keefe, Bruyette & Woods upgraded shares of Figure Technology Solutions from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, February 19th. Finally, Zacks Research upgraded shares of Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 14th.

Figure Technology Solutions Stock Performance

Shares of Figure Technology Solutions stock opened at $33.95 on Tuesday. The firm has a market capitalization of $6.20 billion and a price-to-earnings ratio of 58.53. Figure Technology Solutions has a 12-month low of $25.01 and a 12-month high of $78.00. The firm’s 50 day simple moving average is $35.07 and its two-hundred day simple moving average is $40.12. The company has a current ratio of 1.90, a quick ratio of 2.20 and a debt-to-equity ratio of 0.20.

Figure Technology Solutions (NASDAQ:FIGR) last released its quarterly earnings data on Monday, May 11th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $166.84 million during the quarter. Analysts predict that Figure Technology Solutions will post 0.94 EPS for the current year.

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

Insider Activity

In related news, Director June Ou sold 35,190 shares of the stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $38.20, for a total transaction of $1,344,258.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Scott Cagney sold 35,190 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $38.20, for a total transaction of $1,344,258.00. Following the sale, the director directly owned 35,190 shares in the company, valued at $1,344,258. This trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 728,641 shares of company stock valued at $25,288,002 in the last three months. Corporate insiders own 26.60% of the company’s stock.

Institutional Trading of Figure Technology Solutions

A number of hedge funds have recently added to or reduced their stakes in the company. Orland Properties Ltd purchased a new stake in Figure Technology Solutions during the third quarter worth $319,187,000. J Digital 6 LLC boosted its holdings in Figure Technology Solutions by 9.1% during 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. boosted its holdings 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 worth $121,493,000 after buying an additional 452,136 shares in the last quarter. Duquesne Family Office LLC purchased a new position in Figure Technology Solutions during the third quarter valued at $76,989,000. Finally, Fred Alger Management LLC purchased a new position in Figure Technology Solutions during 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.