Figure Technology Solutions (NASDAQ:FIGR) Stock Price Down 14.1% – Time to Sell?

Figure Technology Solutions, Inc. (NASDAQ:FIGR)’s stock price traded down 14.1% during trading on Thursday . The stock traded as low as $58.00 and last traded at $58.32. 2,769,069 shares were traded during mid-day trading, a decline of 40% from the average session volume of 4,629,880 shares. The stock had previously closed at $67.92.

Analyst Upgrades and Downgrades

FIGR has been the topic of a number of analyst reports. Piper Sandler lifted their price objective on Figure Technology Solutions from $55.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Sanford C. Bernstein boosted their price target on Figure Technology Solutions from $54.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, January 13th. Zacks Research upgraded shares of Figure Technology Solutions from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 2nd. Bank of America raised their target price on shares of Figure Technology Solutions from $41.00 to $47.00 and gave the company a “neutral” rating in a research note on Monday, November 17th. Finally, Needham & Company LLC restated a “buy” rating and set a $51.00 price objective on shares of Figure Technology Solutions in a research report on Monday, November 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $57.63.

Figure Technology Solutions Stock Down 10.8%

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 business has a 50 day moving average of $47.70. The company has a market capitalization of $10.67 billion and a P/E ratio of 178.15.

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

Insider Activity

In other news, CFO Minchung Kgil sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $35.09, for a total transaction of $3,509,000.00. Following the transaction, the chief financial officer owned 617,149 shares of the company’s stock, valued at approximately $21,655,758.41. This represents a 13.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael Benjamin Tannenbaum sold 908,000 shares of the business’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $39.19, for a total transaction 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. This represents 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 90 days, insiders have sold 3,344,073 shares of company stock valued at $123,816,526.

Hedge Funds Weigh In On Figure Technology Solutions

A number of institutional investors have recently modified their holdings of the stock. Flagship Harbor Advisors LLC bought a new stake in shares of Figure Technology Solutions in the fourth quarter valued at about $40,000. Blue Trust Inc. purchased a new position in Figure Technology Solutions during the third quarter valued at approximately $64,000. SBI Securities Co. Ltd. purchased a new position in Figure Technology Solutions during the third quarter valued at approximately $66,000. PNC Financial Services Group Inc. bought a new position in Figure Technology Solutions in the third quarter worth approximately $73,000. Finally, NBC Securities Inc. purchased a new stake in Figure Technology Solutions during the fourth quarter worth $92,000.

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.