Figure Technology Solutions, Inc. (NASDAQ:FIGR) Receives $55.13 Average PT from Brokerages

Figure Technology Solutions, Inc. (NASDAQ:FIGR) has received an average recommendation of “Moderate Buy” from the ten analysts that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $57.6250.

A number of analysts have commented on the stock. Bank of America increased their price objective on shares of Figure Technology Solutions from $41.00 to $47.00 and gave the company a “neutral” rating in a report on Monday, November 17th. Jefferies Financial Group started coverage on Figure Technology Solutions in a research report on Monday, October 6th. They set a “hold” rating and a $40.00 price objective on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Figure Technology Solutions in a research note on Monday, December 29th. The Goldman Sachs Group upped their price objective on shares of Figure Technology Solutions from $51.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Sanford C. Bernstein lifted their target price on shares of Figure Technology Solutions from $54.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday.

Insiders Place Their Bets

In other news, CFO Minchung Kgil sold 100,000 shares of the company’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $35.09, for a total value of $3,509,000.00. Following the transaction, the chief financial officer owned 617,149 shares of the company’s stock, valued at $21,655,758.41. This represents a 13.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael Benjamin Tannenbaum sold 908,000 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $39.19, for a total value of $35,584,520.00. Following the sale, the chief executive officer directly owned 3,921,366 shares of the company’s stock, valued at $153,678,333.54. The trade was a 18.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 3,344,073 shares of company stock valued at $123,816,526.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FIGR. Blue Trust Inc. purchased a new stake in shares of Figure Technology Solutions in the 3rd quarter valued at approximately $64,000. SBI Securities Co. Ltd. acquired a new position in Figure Technology Solutions during the third quarter worth $66,000. PNC Financial Services Group Inc. purchased a new position in shares of Figure Technology Solutions during the third quarter worth $73,000. BNP Paribas Financial Markets acquired a new stake in shares of Figure Technology Solutions in the third quarter valued at $102,000. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of Figure Technology Solutions in the 3rd quarter valued at $200,000.

Figure Technology Solutions Stock Performance

Shares of FIGR stock opened at $73.91 on Wednesday. Figure Technology Solutions has a fifty-two week low of $30.01 and a fifty-two week high of $76.57. The company has a quick ratio of 2.26, a current ratio of 2.26 and a debt-to-equity ratio of 0.17. The company has a fifty day moving average price of $43.06. The stock has a market cap of $13.02 billion and a price-to-earnings ratio of 217.38.

Figure Technology Solutions (NASDAQ:FIGR) last released its earnings results on Thursday, November 13th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.18. The business had revenue of $156.03 million for the quarter.

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.