Figure Technology Solutions (NASDAQ:FIGR) Shares Down 4.7% – Should You Sell?

Figure Technology Solutions, Inc. (NASDAQ:FIGR – Get Free Report)’s stock price dropped 4.7% during trading on Monday. The company traded as low as $26.11 and last traded at $25.8430. 297,480 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 4,610,419 shares. The stock had previously closed at $27.13.

Wall Street Analyst Weigh In

FIGR has been the topic of several recent research reports. Sanford C. Bernstein upped their target price 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 dropped their price target 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. Wall Street Zen upgraded Figure Technology Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Weiss Ratings cut Figure Technology Solutions from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, September 11th. Finally, The Goldman Sachs Group set a $41.00 price objective on Figure Technology Solutions in a research report on Wednesday, October 7th. Four research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Figure Technology Solutions has an average rating of “Buy” and a consensus price target of $53.57.

Read Our Latest Analysis on FIGR

Figure Technology Solutions Stock Up 0.1%

The stock has a market cap of $4.78 billion and a PE ratio of 27.05. The business has a fifty day moving average of $32.83 and a 200-day moving average of $32.36. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.86 and a quick ratio of 1.86.

Figure Technology Solutions (NASDAQ:FIGR – Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.35 earnings per share for the quarter, topping 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%. Equities research analysts anticipate that Figure Technology Solutions, Inc. will post 1.18 earnings per share for the current year.

Insider Activity

In other Figure Technology Solutions news, insider David Stevens sold 47,650 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $31.38, for a total transaction of $1,495,257.00. Following the sale, the insider owned 376,599 shares of the company’s stock, valued at approximately $11,817,676.62. The trade was a 11.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Minchung Kgil sold 8,000 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $38.69, for a total transaction of $309,520.00. Following the sale, the chief financial officer directly owned 483,651 shares in the company, valued at $18,712,457.19. This trade represents a 1.63% 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 63,650 shares of company stock valued at $2,037,417. Corporate insiders own 26.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of FIGR. Maplelane Capital LLC purchased a new position in shares of Figure Technology Solutions during the 1st quarter worth approximately $23,120,000. Bank of New York Mellon Corp acquired a new position in shares of Figure Technology Solutions during the 2nd quarter worth approximately $10,875,000. Granahan Investment Management LLC raised its position in shares of Figure Technology Solutions by 40.6% during the 1st quarter. Granahan Investment Management LLC now owns 935,400 shares of the company’s stock worth $31,757,000 after purchasing an additional 269,882 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in Figure Technology Solutions in the 1st quarter valued at approximately $8,125,000. Finally, Whetstone Capital Advisors LLC purchased a new stake in Figure Technology Solutions in the 2nd quarter valued at approximately $6,939,000.

About Figure Technology Solutions

(Get Free Report)

Figure Technology Solutions, Inc is a financial technology company that develops technology-enabled lending and financial services products. The company uses artificial intelligence, blockchain and data-driven underwriting tools to streamline the origination, servicing and management of loans and other financial transactions.

Figure’s platform has supported products including home equity lines of credit, mortgage-related lending and personal loans. Its technology is designed to automate traditionally paper-intensive processes, improve transaction speed and provide digital tools for borrowers, lenders and other financial institutions.

Founded in 2018, Figure is headquartered in the United States and primarily serves the U.S.

Further Reading

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