Figure Technology Solutions (NASDAQ:FIGR) Trading Up 8.5% – Time to Buy?

Figure Technology Solutions, Inc. (NASDAQ:FIGR) was up 8.5% during trading on Thursday . The stock traded as high as $35.65 and last traded at $36.0050. Approximately 926,122 shares were traded during trading, a decline of 80% from the average session volume of 4,574,385 shares. The stock had previously closed at $33.19.

Analysts Set New Price Targets

FIGR has been the subject of several research reports. Sanford C. Bernstein increased their target price on Figure Technology Solutions from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Keefe, Bruyette & Woods decreased their price target on Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating for the company in a report on Monday, July 13th. Wall Street Zen raised Figure Technology Solutions from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Zacks Research raised shares of Figure Technology Solutions from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 17th. Finally, Mizuho boosted their target price on Figure Technology Solutions from $45.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Figure Technology Solutions has a consensus rating of “Moderate Buy” and a consensus price target of $50.62.

Figure Technology Solutions Price Performance

The business’s 50-day moving average is $31.46 and its two-hundred day moving average is $32.72. The company has a market capitalization of $6.61 billion and a P/E ratio of 38.36. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.22.

Figure Technology Solutions (NASDAQ:FIGR) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.35 EPS for the quarter, beating 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 return on equity of 18.90% and a net margin of 33.45%. As a group, analysts predict that Figure Technology Solutions, Inc. will post 1.18 earnings per share for the current year.

Insider Activity at Figure Technology Solutions

In related news, CFO Minchung Kgil sold 8,000 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $38.69, for a total value of $309,520.00. Following the sale, the chief financial officer directly owned 483,651 shares in the company, valued at approximately $18,712,457.19. The trade was a 1.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Todd Stevens sold 47,650 shares of the company’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 in the company, valued at $11,817,676.62. The trade was a 11.23% 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 90 days, insiders have sold 80,767 shares of company stock valued at $2,542,154. 26.60% of the stock is currently owned by company insiders.

Institutional Trading of Figure Technology Solutions

A number of institutional investors have recently added to or reduced their stakes in the stock. WPG Advisers LLC lifted its holdings in shares of Figure Technology Solutions by 71.1% in the first quarter. WPG Advisers LLC now owns 934 shares of the company’s stock worth $32,000 after buying an additional 388 shares in the last quarter. State of Wyoming grew its stake in Figure Technology Solutions by 14.8% in the 1st quarter. State of Wyoming now owns 3,864 shares of the company’s stock worth $131,000 after buying an additional 498 shares in the last quarter. Arcus Capital Partners LLC increased its holdings in shares of Figure Technology Solutions by 7.9% in the 1st quarter. Arcus Capital Partners LLC now owns 7,400 shares of the company’s stock worth $251,000 after buying an additional 541 shares during the last quarter. Global Retirement Partners LLC purchased a new stake in shares of Figure Technology Solutions during the 4th quarter valued at $25,000. Finally, Wells Fargo & Company MN raised its position in shares of Figure Technology Solutions by 3.5% during the 4th quarter. Wells Fargo & Company MN now owns 18,429 shares of the company’s stock valued at $753,000 after buying an additional 616 shares in the last 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.