Figure Technology Solutions (NASDAQ:FIGR) Stock Price Down 6.9% – Time to Sell?

Figure Technology Solutions, Inc. (NASDAQ:FIGR – Get Free Report)’s share price fell 6.9% during trading on Monday. The stock traded as low as $29.77 and last traded at $29.69. Approximately 3,242,365 shares were traded during mid-day trading, a decline of 30% from the average session volume of 4,608,175 shares. The stock had previously closed at $31.90.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FIGR. Zacks Research raised Figure Technology Solutions from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 17th. Keefe, Bruyette & Woods lowered their target price 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 target on shares of Figure Technology Solutions from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Piper Sandler reduced their price target on shares of Figure Technology Solutions from $75.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 15th. Finally, Needham & Company LLC restated a “buy” rating and issued a $55.00 price objective on shares of Figure Technology Solutions in a report on Thursday, August 20th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Figure Technology Solutions presently has an average rating of “Moderate Buy” and a consensus target price of $52.88.

View Our Latest Report on FIGR

Figure Technology Solutions Price Performance

The company has a fifty day moving average of $32.97 and a 200-day moving average of $33.12. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.22. The stock has a market cap of $5.45 billion and a PE ratio of 31.54.

Figure Technology Solutions (NASDAQ:FIGR – Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.11. The company had revenue of $218.45 million during the quarter. Figure Technology Solutions had a return on equity of 18.90% and a net margin of 33.45%. Sell-side analysts expect that Figure Technology Solutions, Inc. will post 1.2 EPS for the current fiscal year.

Insider Activity at Figure Technology Solutions

In related news, CFO Minchung Kgil sold 8,000 shares of Figure Technology Solutions stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $38.69, for a total value of $309,520.00. Following the completion of the transaction, the chief financial officer owned 483,651 shares in the company, valued at approximately $18,712,457.19. The trade was a 1.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Stevens sold 47,650 shares of the company’s stock in a transaction that occurred 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 sale, 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 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. In the last three months, insiders sold 67,650 shares of company stock valued at $2,157,537. 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. Fred Alger Management LLC acquired a new stake in shares of Figure Technology Solutions in the fourth quarter valued at $67,386,000. Capital World Investors grew its stake in Figure Technology Solutions by 4.2% during the 4th quarter. Capital World Investors now owns 1,458,424 shares of the company’s stock worth $59,562,000 after purchasing an additional 58,424 shares in the last quarter. Norges Bank purchased a new stake in Figure Technology Solutions during the 4th quarter worth about $32,672,000. Granahan Investment Management LLC raised its position in Figure Technology Solutions by 40.6% in the 1st quarter. Granahan Investment Management LLC now owns 935,400 shares of the company’s stock valued at $31,757,000 after purchasing an additional 269,882 shares in the last quarter. Finally, Maplelane Capital LLC purchased a new position in shares of Figure Technology Solutions in the 1st quarter valued at about $23,120,000.

About Figure Technology Solutions

(Get Free Report)

Figure Technology Solutions, Inc is a financial technology company that develops and operates digital platforms for lending and other financial services. Its technology is designed to streamline the origination, underwriting, servicing and funding of loans through automated processes and data-driven tools.

The company’s offerings have included home equity financing, personal loans and related lending products, delivered directly to consumers and through institutional or other financial-services partners.

See Also

Receive News & Ratings for Figure Technology Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Figure Technology Solutions and related companies with MarketBeat.com's FREE daily email newsletter.