Figure Technology Solutions (NASDAQ:FIGR) Stock Rating Upgraded by Zacks Research

Figure Technology Solutions (NASDAQ:FIGR) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Several other research analysts have also recently issued reports on the company. Wall Street Zen raised Figure Technology Solutions from a “sell” rating to a “hold” rating in a research report on Saturday. Keefe, Bruyette & Woods decreased their price target on shares of Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating for the company in a research note on Monday, July 13th. Sanford C. Bernstein lifted their price objective on Figure Technology Solutions from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Weiss Ratings raised shares of Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 4th. Finally, Piper Sandler cut their target price on Figure Technology Solutions from $75.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $50.62.

Figure Technology Solutions Price Performance

FIGR stock opened at $35.52 on Monday. The company’s 50-day moving average is $29.56 and its 200-day moving average is $33.29. Figure Technology Solutions has a 1 year low of $24.11 and a 1 year high of $78.00. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a market capitalization of $6.49 billion and a PE ratio of 38.19.

Figure Technology Solutions (NASDAQ:FIGR) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.11. Figure Technology Solutions had a return on equity of 19.58% and a net margin of 33.45%.The firm had revenue of $218.45 million during the quarter. Equities research analysts expect that Figure Technology Solutions will post 1.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Minchung Kgil sold 9,117 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $30.06, for a total transaction of $274,057.02. Following the completion of the transaction, the chief financial officer directly owned 507,651 shares in the company, valued at $15,259,989.06. The trade was a 1.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider David Todd Stevens sold 47,650 shares of the company’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $31.38, for a total transaction of $1,495,257.00. Following the completion of the transaction, the insider directly owned 376,599 shares in the company, valued at approximately $11,817,676.62. The trade was a 11.23% 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 have sold a total of 72,767 shares of company stock valued at $2,232,634 over the last 90 days. Company insiders own 26.60% of the company’s stock.

Institutional Trading of Figure Technology Solutions

A number of large investors have recently modified their holdings of FIGR. Duquesne Family Office LLC bought a new position in shares of Figure Technology Solutions in the third quarter worth approximately $76,989,000. Fred Alger Management LLC purchased a new position in Figure Technology Solutions in the 4th quarter worth approximately $67,386,000. Pantera Capital Partners LP bought a new position in shares of Figure Technology Solutions in the 3rd quarter worth $56,114,000. Balyasny Asset Management L.P. purchased a new stake in shares of Figure Technology Solutions during the 3rd quarter valued at $36,087,000. Finally, Alliancebernstein L.P. purchased a new stake in shares of Figure Technology Solutions during the 3rd quarter valued at $34,626,000.

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.