Figure Technology Solutions (NASDAQ:FIGR) Upgraded by Keefe, Bruyette & Woods to Strong-Buy Rating

Figure Technology Solutions (NASDAQ:FIGR) was upgraded by research analysts at Keefe, Bruyette & Woods from a “moderate buy” rating to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

Other analysts have also recently issued reports about the stock. Texas Capital raised shares of Figure Technology Solutions to a “strong-buy” rating in a research report on Thursday, January 29th. Sanford C. Bernstein boosted their price objective on Figure Technology Solutions from $54.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 13th. Needham & Company LLC reiterated a “buy” rating and issued a $71.00 target price on shares of Figure Technology Solutions in a research note on Thursday, February 5th. Zacks Research lowered Figure Technology Solutions from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Finally, The Goldman Sachs Group upped their price target on Figure Technology Solutions from $51.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Figure Technology Solutions currently has an average rating of “Moderate Buy” and an average target price of $59.50.

Figure Technology Solutions Stock Down 11.6%

FIGR opened at $29.12 on Thursday. Figure Technology Solutions has a 52-week low of $29.02 and a 52-week high of $78.00. The stock’s 50 day simple moving average is $48.85. The stock has a market capitalization of $5.13 billion and a P/E ratio of 85.65. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 0.17.

Insider Transactions at Figure Technology Solutions

In other news, CFO Minchung Kgil sold 100,000 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $35.09, for a total transaction of $3,509,000.00. Following the completion of the transaction, the chief financial officer directly owned 617,149 shares in the company, valued at approximately $21,655,758.41. This represents a 13.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider David Todd Stevens sold 40,000 shares of Figure Technology Solutions stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $35.22, for a total transaction of $1,408,800.00. Following the completion of the sale, the insider owned 489,000 shares of the company’s stock, valued at approximately $17,222,580. This trade represents a 7.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 852,573 shares of company stock valued at $31,701,291 in the last three months.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FIGR. Voya Investment Management LLC bought a new stake in shares of Figure Technology Solutions in the 3rd quarter worth about $721,000. Exchange Traded Concepts LLC bought a new stake in Figure Technology Solutions in the third quarter valued at about $5,963,000. Blue Trust Inc. acquired a new stake in Figure Technology Solutions during the third quarter valued at approximately $64,000. Hennessy Advisors Inc. bought a new position in Figure Technology Solutions during the 3rd quarter worth approximately $255,000. Finally, CWA Asset Management Group LLC acquired a new position in shares of Figure Technology Solutions in the 3rd quarter worth approximately $1,412,000.

Figure Technology Solutions Company Profile

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.