Figure Technology Solutions, Inc. (NASDAQ:FIGR – Get Free Report) has been assigned an average recommendation of “Moderate Buy” from the ten research firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, six have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $53.57.
Several research firms have weighed in on FIGR. Needham & Company LLC reissued a “buy” rating on shares of Figure Technology Solutions in a research note on Wednesday, October 7th. Weiss Ratings cut Figure Technology Solutions from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, September 11th. Zacks Research upgraded shares of Figure Technology Solutions from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 17th. Piper Sandler cut 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 report on Wednesday, July 15th. Finally, Sanford C. Bernstein lifted their price objective on shares of Figure Technology Solutions from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th.
Get Our Latest Stock Report on Figure Technology Solutions
Insider Activity at Figure Technology Solutions
In other Figure Technology Solutions news, CFO Minchung Kgil sold 8,000 shares of the company’s 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 sale, the chief financial officer owned 483,651 shares of the company’s stock, valued at approximately $18,712,457.19. This represents a 1.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Stevens sold 47,650 shares of the 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 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 63,650 shares of company stock valued at $2,037,417 in the last ninety days. Insiders own 26.60% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in FIGR. Sax Wealth Advisors LLC bought a new stake in shares of Figure Technology Solutions in the third quarter worth about $589,000. GAMMA Investing LLC boosted its holdings in shares of Figure Technology Solutions by 176.6% in the third quarter. GAMMA Investing LLC now owns 1,690 shares of the company’s stock valued at $49,000 after buying an additional 1,079 shares during the period. Moody National Bank Trust Division boosted its holdings in shares of Figure Technology Solutions by 106.3% in the third quarter. Moody National Bank Trust Division now owns 113,759 shares of the company’s stock valued at $3,282,000 after buying an additional 58,609 shares during the period. Whetstone Capital Advisors LLC bought a new stake in shares of Figure Technology Solutions during the second quarter worth $6,939,000. Finally, Engineers Gate Manager LP bought a new stake in shares of Figure Technology Solutions during the second quarter worth $3,398,000.
Figure Technology Solutions Stock Up 10.5%
NASDAQ:FIGR opened at $27.67 on Friday. Figure Technology Solutions has a 12-month low of $24.10 and a 12-month high of $78.00. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $5.14 billion and a P/E ratio of 29.75. The stock’s fifty day simple moving average is $32.96 and its 200-day simple moving average is $32.50.
Figure Technology Solutions (NASDAQ:FIGR – Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.11. The business 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%. Equities research analysts expect that Figure Technology Solutions will post 1.18 earnings per share for the current year.
Figure Technology Solutions Company Profile
Figure Technology Solutions, Inc is a financial technology company that develops blockchain- and artificial intelligence-enabled solutions for lending and financial services. The company’s technology is designed to support the origination, servicing, financing and trading of financial assets through more efficient digital processes.
Figure’s business activities have included home equity lending, personal lending, mortgage-related services and financial asset marketplaces. Its platform has also been used to facilitate the issuance and transfer of loans and other financial products, with blockchain technology intended to improve transparency, settlement and recordkeeping.
The company was founded by Mike Cagney, who previously co-founded Social Finance, Inc (SoFi), and Figure has operated primarily in the United States.
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