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

Shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) have been assigned an average rating of “Moderate Buy” from the eleven research firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $50.6250.

Several analysts have commented on the stock. Piper Sandler lowered their price objective on shares of Figure Technology Solutions from $75.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, July 15th. Wall Street Zen raised Figure Technology Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Needham & Company LLC restated a “buy” rating and issued a $55.00 target price on shares of Figure Technology Solutions in a research note on Thursday, August 20th. Keefe, Bruyette & Woods dropped their price target on Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th. Finally, Mizuho upped their price target on Figure Technology Solutions from $45.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, May 14th.

Figure Technology Solutions Stock Down 9.9%

Shares of NASDAQ FIGR opened at $37.08 on Thursday. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.22. Figure Technology Solutions has a 12 month low of $24.11 and a 12 month high of $78.00. The firm has a market capitalization of $6.88 billion and a PE ratio of 39.87. The firm has a fifty day simple moving average of $30.74 and a two-hundred day simple moving average of $32.80.

Figure Technology Solutions (NASDAQ:FIGR) last announced its earnings results on Thursday, August 13th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.11. Figure Technology Solutions had a net margin of 33.45% and a return on equity of 18.90%. The firm had revenue of $218.45 million for the quarter. Equities analysts expect that Figure Technology Solutions will post 1.18 earnings per share for the current year.

Insider Transactions at Figure Technology Solutions

In related news, CFO Minchung Kgil sold 8,000 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $38.69, for a total transaction of $309,520.00. Following the sale, the chief financial officer owned 483,651 shares of the company’s stock, valued at $18,712,457.19. The trade was a 1.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Todd Stevens sold 47,650 shares of the company’s stock in a transaction dated 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 sale, the insider owned 376,599 shares in the company, valued at approximately $11,817,676.62. This trade represents 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 sold a total of 80,767 shares of company stock worth $2,542,154 over the last ninety days. Insiders own 26.60% of the company’s stock.

Institutional Trading of Figure Technology Solutions

A number of hedge funds have recently made changes to their positions in FIGR. Global Retirement Partners LLC purchased a new stake in shares of Figure Technology Solutions in the 4th quarter worth approximately $25,000. WPG Advisers LLC raised its stake in Figure Technology Solutions by 71.1% during the first quarter. WPG Advisers LLC now owns 934 shares of the company’s stock valued at $32,000 after buying an additional 388 shares during the last quarter. Strs Ohio bought a new stake in Figure Technology Solutions in the fourth quarter worth $34,000. MetLife Investment Management LLC bought a new stake in Figure Technology Solutions in the fourth quarter worth $35,000. Finally, Johnson Financial Group Inc. purchased a new stake in shares of Figure Technology Solutions in the fourth quarter worth $41,000.

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.