Figure Technology Solutions (NASDAQ:FIGR) Stock Bumped Up to “Strong-Buy” by Freedom Broker

Freedom Broker upgraded shares of Figure Technology Solutions (NASDAQ:FIGR) to a strong-buy rating in a report released on Thursday morning,Zacks reports.

A number of other equities analysts also recently weighed in on the company. Keefe, Bruyette & Woods lowered their price target on Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th. Piper Sandler cut their price objective on Figure Technology Solutions from $75.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, July 15th. Wall Street Zen raised Figure Technology Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. The Goldman Sachs Group set a $41.00 target price on Figure Technology Solutions in a research note on Wednesday, October 7th. Finally, Bank of America reissued a “neutral” rating and set a $44.00 target price on shares of Figure Technology Solutions in a report on Monday, October 5th. Three research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Figure Technology Solutions currently has an average rating of “Buy” and a consensus target price of $53.57.

Figure Technology Solutions Stock Up 10.5%

Figure Technology Solutions stock opened at $27.67 on Thursday. The firm has a market capitalization of $5.14 billion and a PE ratio of 29.75. The company’s 50-day moving average is $32.96 and its 200-day moving average is $32.50. Figure Technology Solutions has a fifty-two week low of $24.10 and a fifty-two week high of $78.00. 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 issued its earnings results on Thursday, August 13th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.11. Figure Technology Solutions had a net margin of 33.45% and a return on equity of 18.90%. The company had revenue of $218.45 million for the quarter. Sell-side analysts anticipate that Figure Technology Solutions will post 1.18 earnings per share for the current year.

Insider Transactions at Figure Technology Solutions

In related news, CFO Minchung Kgil sold 8,000 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $38.69, for a total value of $309,520.00. Following the transaction, the chief financial officer owned 483,651 shares in the company, valued at approximately $18,712,457.19. This represents a 1.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Stevens sold 47,650 shares of the stock in a transaction dated 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 completion of the transaction, the insider directly owned 376,599 shares in the company, valued at approximately $11,817,676.62. This represents 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 63,650 shares of company stock valued at $2,037,417. 26.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Figure Technology Solutions

A number of institutional investors have recently made changes to their positions in FIGR. WPG Advisers LLC increased its stake in shares of Figure Technology Solutions by 71.1% during the first quarter. WPG Advisers LLC now owns 934 shares of the company’s stock worth $32,000 after purchasing an additional 388 shares during the period. State of Wyoming boosted 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 valued at $131,000 after purchasing an additional 498 shares during the period. Arcus Capital Partners LLC boosted its stake in Figure Technology Solutions by 7.9% in the 1st quarter. Arcus Capital Partners LLC now owns 7,400 shares of the company’s stock valued at $251,000 after purchasing an additional 541 shares during the period. HB Wealth Management LLC increased its position in Figure Technology Solutions by 4.5% during the 2nd quarter. HB Wealth Management LLC now owns 18,389 shares of the company’s stock worth $565,000 after buying an additional 788 shares during the period. Finally, Concurrent Investment Advisors LLC lifted its holdings in shares of Figure Technology Solutions by 16.0% during the second quarter. Concurrent Investment Advisors LLC now owns 6,988 shares of the company’s stock worth $215,000 after buying an additional 966 shares in the last quarter.

About Figure Technology Solutions

Figure Technology Solutions, Inc is a financial technology company that develops blockchain- and artificial intelligence-enabled solutions for lending and financial services. The company’s technology is designed to support the origination, servicing, financing and trading of financial assets through more efficient digital processes.

Figure’s business activities have included home equity lending, personal lending, mortgage-related services and financial asset marketplaces. Its platform has also been used to facilitate the issuance and transfer of loans and other financial products, with blockchain technology intended to improve transparency, settlement and recordkeeping.

The company was founded by Mike Cagney, who previously co-founded Social Finance, Inc (SoFi), and Figure has operated primarily in the United States.