Figure Technology Solutions (NASDAQ:FIGR) Sets New 12-Month Low – Time to Sell?

Figure Technology Solutions, Inc. (NASDAQ:FIGR)’s share price reached a new 52-week low during trading on Thursday. The stock traded as low as $24.10 and last traded at $24.3830, with a volume of 1,999,867 shares changing hands. The stock had previously closed at $25.36.

Wall Street Analyst Weigh In

FIGR has been the subject of a number of research analyst reports. Zacks Research raised shares of Figure Technology Solutions from a “hold” rating to a “strong-buy” rating in a report on Monday, August 17th. Needham & Company LLC reissued a “buy” rating on shares of Figure Technology Solutions in a research report on Wednesday, October 7th. Sanford C. Bernstein upped 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. Bank of America reaffirmed a “neutral” rating and set a $44.00 target price on shares of Figure Technology Solutions in a report on Monday, October 5th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating for the company in a research report on Monday, July 13th. Four analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $53.57.

Figure Technology Solutions Stock Performance

The business’s fifty day moving average price is $32.72 and its 200-day moving average price is $32.30. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.86 and a current ratio of 1.86. The stock has a market cap of $4.46 billion and a PE ratio of 25.85.

Figure Technology Solutions (NASDAQ:FIGR) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.24 by $0.11. Figure Technology Solutions had a return on equity of 18.90% and a net margin of 33.45%. The firm had revenue of $218.45 million for the quarter. As a group, equities research analysts forecast that Figure Technology Solutions, Inc. will post 1.18 EPS for the current fiscal year.

Insider Activity at Figure Technology Solutions

In other news, insider David Stevens sold 47,650 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $31.38, for a total value of $1,495,257.00. Following the sale, 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 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 of the company’s stock, valued at approximately $18,712,457.19. The trade was a 1.63% decrease in their position. 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 three months, insiders have sold 63,650 shares of company stock worth $2,037,417. Corporate insiders own 26.60% of the company’s stock.

Institutional Trading of Figure Technology Solutions

A number of large investors have recently made changes to their positions in FIGR. Investment House LLC raised its position in Figure Technology Solutions by 45.0% during the 3rd quarter. Investment House LLC now owns 285,955 shares of the company’s stock valued at $8,250,000 after purchasing an additional 88,700 shares in the last quarter. SBI Securities Co. Ltd. increased its position in Figure Technology Solutions by 157.4% during the 3rd quarter. SBI Securities Co. Ltd. now owns 1,974 shares of the company’s stock valued at $57,000 after buying an additional 1,207 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of Figure Technology Solutions by 92.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 192,421 shares of the company’s stock valued at $5,551,000 after acquiring an additional 92,421 shares in the last quarter. Sax Wealth Advisors LLC acquired a new position in shares of Figure Technology Solutions in the 3rd quarter valued at $589,000. Finally, GAMMA Investing LLC boosted its position in Figure Technology Solutions by 176.6% in the third quarter. GAMMA Investing LLC now owns 1,690 shares of the company’s stock valued at $49,000 after buying an additional 1,079 shares during the last quarter.

Figure Technology Solutions Company Profile

Figure Technology Solutions, Inc is a financial technology company that develops technology-enabled lending and financial services products. The company uses artificial intelligence, blockchain and data-driven underwriting tools to streamline the origination, servicing and management of loans and other financial transactions.

Figure’s platform has supported products including home equity lines of credit, mortgage-related lending and personal loans. Its technology is designed to automate traditionally paper-intensive processes, improve transaction speed and provide digital tools for borrowers, lenders and other financial institutions.

Founded in 2018, Figure is headquartered in the United States and primarily serves the U.S.