Figure Technology Solutions, Inc. (NASDAQ:FIGR) Receives Consensus Rating of “Moderate Buy” from Analysts

Figure Technology Solutions, Inc. (NASDAQ:FIGR) has been given a consensus rating of “Moderate Buy” by the eleven brokerages that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, five have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $53.6250.

FIGR has been the topic of a number of research reports. Weiss Ratings upgraded shares of Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 4th. Sanford C. Bernstein decreased their target price on Figure Technology Solutions from $72.00 to $67.00 and set an “outperform” rating on the stock in a research report on Monday, March 30th. Bank of America dropped their price target on Figure Technology Solutions from $34.00 to $31.00 in a report on Thursday, April 2nd. Needham & Company LLC restated a “buy” rating and issued a $55.00 price target on shares of Figure Technology Solutions in a research note on Wednesday, May 13th. Finally, Mizuho upped their price objective on Figure Technology Solutions from $45.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, May 14th.

Figure Technology Solutions Stock Down 9.8%

FIGR opened at $31.05 on Wednesday. Figure Technology Solutions has a 1-year low of $25.01 and a 1-year high of $78.00. The stock’s fifty day simple moving average is $32.92 and its 200 day simple moving average is $38.55. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.20. The stock has a market cap of $5.67 billion and a PE ratio of 53.53.

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

Insiders Place Their Bets

In related news, Director Michael Scott Cagney sold 67,840 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $35.19, for a total transaction of $2,387,289.60. Following the transaction, the director directly owned 67,840 shares of the company’s stock, valued at approximately $2,387,289.60. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Todd Stevens sold 47,064 shares of Figure Technology Solutions stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $42.35, for a total transaction of $1,993,160.40. Following the completion of the sale, the insider owned 406,051 shares of the company’s stock, valued at $17,196,259.85. This trade represents a 10.39% decrease in their position. 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 479,337 shares of company stock valued at $16,910,863 in the last three months. Insiders own 26.60% of the company’s stock.

Hedge Funds Weigh In On Figure Technology Solutions

A number of hedge funds have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC bought a new stake in shares of Figure Technology Solutions during the 4th quarter valued at $25,000. WPG Advisers LLC lifted its position in Figure Technology Solutions by 71.1% during the first quarter. WPG Advisers LLC now owns 934 shares of the company’s stock worth $32,000 after purchasing an additional 388 shares during the period. Strs Ohio bought a new stake in Figure Technology Solutions during the fourth quarter worth about $34,000. MetLife Investment Management LLC acquired a new stake in Figure Technology Solutions during the fourth quarter worth about $35,000. Finally, Flagship Harbor Advisors LLC bought a new position in Figure Technology Solutions in the 4th quarter valued at 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.