Figure Technology Solutions, Inc. (NASDAQ:FIGR) Receives $59.50 Average Target Price from Analysts

Shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) have been assigned an average rating of “Moderate Buy” from the eleven ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $59.50.

FIGR has been the subject of a number of research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Figure Technology Solutions in a report on Monday, December 29th. Piper Sandler raised their target price on shares of Figure Technology Solutions from $55.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Keefe, Bruyette & Woods upped their price target on shares of Figure Technology Solutions from $52.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, January 8th. Bank of America downgraded Figure Technology Solutions from a “neutral” rating to an “underperform” rating and set a $42.00 price objective on the stock. in a report on Tuesday, February 3rd. Finally, Mizuho boosted their price objective on Figure Technology Solutions from $47.00 to $56.00 and gave the stock an “outperform” rating in a research report on Monday, November 17th.

Insider Transactions at Figure Technology Solutions

In other Figure Technology Solutions news, CEO Michael Benjamin Tannenbaum sold 908,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $39.19, for a total value of $35,584,520.00. Following the completion of the transaction, the chief executive officer directly owned 3,921,366 shares in the company, valued at approximately $153,678,333.54. This represents a 18.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael Scott Cagney sold 500,000 shares of Figure Technology Solutions stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $36.22, for a total transaction of $18,110,000.00. Following the transaction, the director owned 6,378,993 shares in the company, valued at approximately $231,047,126.46. This trade represents a 7.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 3,344,073 shares of company stock worth $123,816,526.

Institutional Investors Weigh In On Figure Technology Solutions

Several institutional investors and hedge funds have recently made changes to their positions in FIGR. Global Retirement Partners LLC acquired a new position in shares of Figure Technology Solutions in the fourth quarter worth approximately $25,000. Strs Ohio bought a new position in Figure Technology Solutions during the 4th quarter worth approximately $34,000. Flagship Harbor Advisors LLC acquired a new position in shares of Figure Technology Solutions in the 4th quarter worth approximately $40,000. Blue Trust Inc. bought a new stake in shares of Figure Technology Solutions in the 3rd quarter valued at $64,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Figure Technology Solutions in the 3rd quarter valued at $66,000.

Figure Technology Solutions Stock Down 4.2%

Shares of NASDAQ:FIGR opened at $38.77 on Friday. Figure Technology Solutions has a 12-month low of $30.01 and a 12-month high of $78.00. The stock’s 50 day simple moving average is $49.71. The firm has a market cap of $6.83 billion and a price-to-earnings ratio of 114.03. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.26 and a current ratio of 2.26.

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

About Figure Technology Solutions

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.