Figure Technology Solutions (NASDAQ:FIGR) Stock Price Up 5.4% – What’s Next?

Shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) shot up 5.4% during trading on Friday . The company traded as high as $35.60 and last traded at $35.5450. 266,575 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 4,552,489 shares. The stock had previously closed at $33.71.

Wall Street Analysts Forecast Growth

FIGR has been the subject of a number of research analyst reports. Bank of America upgraded shares of Figure Technology Solutions from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $31.00 to $49.00 in a research note on Wednesday, September 9th. Wall Street Zen upgraded Figure Technology Solutions from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Needham & Company LLC reiterated a “buy” rating and set a $55.00 price objective on shares of Figure Technology Solutions in a research note on Thursday, August 20th. Weiss Ratings downgraded Figure Technology Solutions from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, September 11th. Finally, Zacks Research raised Figure Technology Solutions from a “hold” rating to a “strong-buy” rating in a report on Monday, August 17th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $52.88.

Figure Technology Solutions Stock Up 4.7%

The firm’s fifty day moving average is $32.48 and its two-hundred day moving average is $32.95. The firm has a market cap of $6.55 billion and a price-to-earnings ratio of 37.94. 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) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.11. The business 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%. On average, sell-side analysts expect that Figure Technology Solutions, Inc. will post 1.2 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider David Stevens sold 47,650 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $31.38, for a total transaction of $1,495,257.00. Following the completion of the sale, the insider directly owned 376,599 shares of the company’s stock, valued at $11,817,676.62. This trade represents a 11.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through 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 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 $18,712,457.19. This trade represents a 1.63% 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. Insiders have sold 71,650 shares of company stock valued at $2,268,097 over the last 90 days. 26.60% of the stock is currently owned by insiders.

Institutional Trading of Figure Technology Solutions

Hedge funds have recently bought and sold shares of the company. Whetstone Capital Advisors LLC purchased a new stake in shares of Figure Technology Solutions in the second quarter worth approximately $6,939,000. Engineers Gate Manager LP bought a new position in shares of Figure Technology Solutions in the second quarter worth about $3,398,000. Integrated Wealth Concepts LLC bought a new stake in shares of Figure Technology Solutions in the second quarter valued at about $47,000. Arizona State Retirement System acquired a new stake in shares of Figure Technology Solutions during the second quarter worth approximately $278,000. Finally, Waverly Advisors LLC boosted its position in Figure Technology Solutions by 78.1% in the 2nd quarter. Waverly Advisors LLC now owns 53,089 shares of the company’s stock valued at $1,630,000 after buying an additional 23,277 shares during the last quarter.

Figure Technology Solutions Company Profile

Figure Technology Solutions, Inc is a financial technology company that develops and operates digital platforms for lending and other financial services. Its technology is designed to streamline the origination, underwriting, servicing and funding of loans through automated processes and data-driven tools.

The company’s offerings have included home equity financing, personal loans and related lending products, delivered directly to consumers and through institutional or other financial-services partners.