Figure Technology Solutions, Inc. (NASDAQ:FIGR – Get Free Report) was up 7.7% during mid-day trading on Tuesday . The stock traded as high as $29.43 and last traded at $29.1420. Approximately 2,406,166 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 4,844,437 shares. The stock had previously closed at $27.07.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on the company. Mizuho raised their price objective on Figure Technology Solutions from $45.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, May 14th. Needham & Company LLC reiterated a “buy” rating and issued a $55.00 price target on shares of Figure Technology Solutions in a research note on Wednesday, May 13th. Weiss Ratings upgraded Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 4th. Zacks Research upgraded shares of Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 14th. Finally, The Goldman Sachs Group lowered their target price on shares of Figure Technology Solutions from $49.00 to $44.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $53.62.
Read Our Latest Report on Figure Technology Solutions
Figure Technology Solutions Trading Up 12.8%
Figure Technology Solutions (NASDAQ:FIGR – Get Free Report) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.01. The firm had revenue of $166.84 million during the quarter. As a group, equities research analysts predict that Figure Technology Solutions, Inc. will post 0.94 EPS for the current fiscal year.
Insider Activity at Figure Technology Solutions
In other Figure Technology Solutions news, CEO Michael Benjamin Tannenbaum sold 127,369 shares of Figure Technology Solutions stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $33.35, for a total transaction of $4,247,756.15. Following the completion of the sale, the chief executive officer directly owned 3,250,466 shares in the company, valued at approximately $108,403,041.10. The trade was a 3.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Scott Cagney sold 67,840 shares of the company’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $35.19, for a total transaction of $2,387,289.60. Following the completion of the sale, the director directly owned 67,840 shares in the company, valued at $2,387,289.60. This trade represents a 50.00% 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. Insiders sold a total of 475,337 shares of company stock worth $16,790,743 in the last ninety days. 26.60% of the stock is owned by company insiders.
Institutional Investors Weigh In On Figure Technology Solutions
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. purchased a new position in shares of Figure Technology Solutions during the 3rd quarter valued at about $73,000. JPMorgan Chase & Co. purchased a new stake in shares of Figure Technology Solutions in the third quarter worth about $15,529,000. Vanguard Group Inc. purchased a new position in Figure Technology Solutions during the third quarter valued at approximately $91,751,000. Royce & Associates LP acquired a new position in Figure Technology Solutions in the third quarter valued at approximately $1,146,000. Finally, Victory Capital Management Inc. purchased a new stake in Figure Technology Solutions in the 3rd quarter worth approximately $9,221,000.
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.
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