Brokerages Set Figure Technology Solutions, Inc. (NASDAQ:FIGR) PT at $53.62

Figure Technology Solutions, Inc. (NASDAQ:FIGR) has received a consensus recommendation of “Moderate Buy” from the eleven research firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $51.50.

Several equities analysts recently commented on FIGR shares. Wall Street Zen cut Figure Technology Solutions from a “hold” rating to a “sell” rating in a research report on Sunday. Mizuho raised their price target on Figure Technology Solutions from $45.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Bank of America dropped their price target on Figure Technology Solutions from $34.00 to $31.00 in a research report on Thursday, April 2nd. Weiss Ratings raised Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 4th. Finally, Needham & Company LLC restated a “buy” rating and issued a $55.00 price objective on shares of Figure Technology Solutions in a research report on Wednesday, July 8th.

Figure Technology Solutions Stock Performance

NASDAQ FIGR opened at $29.96 on Wednesday. The company’s 50 day simple moving average is $32.56 and its two-hundred day simple moving average is $38.11. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.90 and a quick ratio of 1.90. Figure Technology Solutions has a 1 year low of $25.01 and a 1 year high of $78.00. The stock has a market capitalization of $5.47 billion and a PE ratio of 51.66.

Figure Technology Solutions (NASDAQ:FIGR) last released its quarterly earnings results on Monday, May 11th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $166.84 million for the quarter. Analysts predict that Figure Technology Solutions will post 0.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Michael Benjamin Tannenbaum sold 127,369 shares of the firm’s stock in a transaction 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 sale, the chief executive officer owned 3,250,466 shares in the company, valued at approximately $108,403,041.10. This trade represents a 3.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Todd Stevens sold 47,064 shares of Figure Technology Solutions stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $42.35, for a total transaction of $1,993,160.40. Following the sale, the insider directly owned 406,051 shares of the company’s stock, valued at $17,196,259.85. This represents a 10.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 343,657 shares of company stock worth $12,136,284. 26.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. J Digital 6 LLC lifted its stake in Figure Technology Solutions by 9.1% during the fourth quarter. J Digital 6 LLC now owns 3,276,587 shares of the company’s stock worth $133,816,000 after purchasing an additional 274,145 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Figure Technology Solutions by 17.9% during the 4th quarter. Vanguard Group Inc. now owns 2,974,853 shares of the company’s stock valued at $121,493,000 after purchasing an additional 452,136 shares during the last quarter. Duquesne Family Office LLC bought a new position in shares of Figure Technology Solutions during the 3rd quarter valued at about $76,989,000. Fred Alger Management LLC purchased a new position in shares of Figure Technology Solutions during the 4th quarter valued at about $67,386,000. Finally, Pantera Capital Partners LP purchased a new position in shares of Figure Technology Solutions during the 3rd quarter valued at about $56,114,000.

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.