Figure Technology Solutions (NASDAQ:FIGR) Cut to Hold at Zacks Research

Figure Technology Solutions (NASDAQ:FIGR – Get Free Report) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday, Zacks reports.

Several other equities analysts have also issued reports on the stock. Weiss Ratings lowered shares of Figure Technology Solutions from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, September 11th. The Goldman Sachs Group set a $41.00 price objective on Figure Technology Solutions in a report on Wednesday, October 7th. Piper Sandler lowered their price objective on Figure Technology Solutions from $75.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, July 15th. Sanford C. Bernstein boosted their target price on Figure Technology Solutions from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Finally, Keefe, Bruyette & Woods reduced their target price on Figure Technology Solutions from $45.00 to $37.00 and set an “outperform” rating on the stock in a research report on Monday. Three 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 given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $52.43.

Check Out Our Latest Research Report on Figure Technology Solutions

Figure Technology Solutions Stock Down 4.8%

Shares of Figure Technology Solutions stock opened at $23.34 on Monday. 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 company has a market cap of $4.33 billion, a P/E ratio of 25.10, a PEG ratio of 0.37 and a beta of 0.94. The firm’s 50 day moving average price is $28.90 and its 200-day moving average price is $33.01. Figure Technology Solutions has a 52-week low of $19.54 and a 52-week high of $78.00.

Figure Technology Solutions (NASDAQ:FIGR – Get Free Report) last posted 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 net margin of 33.45% and a return on equity of 18.90%. On average, sell-side analysts predict that Figure Technology Solutions will post 1.18 EPS for the current fiscal year.

Insider Transactions at Figure Technology Solutions

In other Figure Technology Solutions news, CFO Minchung Kgil sold 8,000 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was 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 in the company, valued at approximately $18,712,457.19. The trade was a 1.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 dated Friday, August 14th. The shares were sold at an average price of $31.38, for a total value of $1,495,257.00. Following the completion of the transaction, the insider directly owned 376,599 shares in the company, valued at $11,817,676.62. This 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 own 26.60% of the company’s stock.

Institutional Investors Weigh In On Figure Technology Solutions

A number of large investors have recently bought and sold shares of FIGR. Quantinno Capital Management LP purchased a new position in Figure Technology Solutions during the 1st quarter worth approximately $1,098,000. Temasek Holdings Private Ltd purchased a new stake in shares of Figure Technology Solutions in the 1st quarter valued at $1,415,000. Principal Financial Group Inc. purchased a new stake in shares of Figure Technology Solutions in the 1st quarter valued at $8,125,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Figure Technology Solutions by 660.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 42,717 shares of the company’s stock valued at $1,450,000 after acquiring an additional 37,100 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new stake in shares of Figure Technology Solutions in the second quarter worth $3,398,000.

Figure Technology Solutions Company Profile

(Get Free Report)

Figure Technology Solutions is a financial technology company that develops blockchain-based platforms for lending and capital markets. Its technology is designed to digitize and streamline financial transactions, including loan origination and the trading of financial assets. The company’s offerings include home equity financing and technology for financial institutions and other lending partners. Figure also operates digital marketplaces and provides services supporting the issuance and transfer of assets on the Provenance Blockchain.

Further Reading

Analyst Recommendations for Figure Technology Solutions (NASDAQ:FIGR)

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