Figure Technology Solutions (NASDAQ:FIGR) Given New $44.00 Price Target at The Goldman Sachs Group

Figure Technology Solutions (NASDAQ:FIGR) had its target price cut by investment analysts at The Goldman Sachs Group from $49.00 to $44.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 48.05% from the stock’s previous close.

Several other equities analysts have also commented on FIGR. Bank of America lowered Figure Technology Solutions from a “neutral” rating to an “underperform” rating and set a $42.00 price objective on the stock. in a research report on Tuesday, February 3rd. Keefe, Bruyette & Woods upgraded Figure Technology Solutions from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, February 19th. Zacks Research cut Figure Technology Solutions from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 4th. Mizuho raised their price target on Figure Technology Solutions from $47.00 to $56.00 and gave the stock an “outperform” rating in a research report on Monday, November 17th. Finally, Weiss Ratings downgraded Figure Technology Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, February 11th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Figure Technology Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $55.75.

Figure Technology Solutions Stock Up 17.6%

NASDAQ:FIGR traded up $4.44 during trading hours on Monday, hitting $29.72. 5,032,670 shares of the company’s stock traded hands, compared to its average volume of 5,129,896. The company has a market cap of $5.23 billion and a price-to-earnings ratio of 87.41. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 0.17. The company has a fifty day moving average of $48.01. Figure Technology Solutions has a 52 week low of $25.01 and a 52 week high of $78.00.

Figure Technology Solutions (NASDAQ:FIGR) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07). The business had revenue of $157.63 million for the quarter, compared to analyst estimates of $158.00 million. Figure Technology Solutions’s revenue was up 90.7% on a year-over-year basis.

Figure Technology Solutions declared that its Board of Directors has approved a share repurchase plan on Thursday, February 26th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to buy up to 3.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Figure Technology Solutions

In other Figure Technology Solutions news, Director June Ou sold 200,058 shares of the company’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $39.40, for a total value of $7,882,285.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Benjamin Tannenbaum sold 90,026 shares of Figure Technology Solutions stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $35.12, for a total transaction of $3,161,713.12. Following the sale, the chief executive officer directly owned 3,641,903 shares in the company, valued at $127,903,633.36. The trade was a 2.41% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 749,193 shares of company stock worth $27,947,547.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in FIGR. Invesco Ltd. grew its stake in Figure Technology Solutions by 66.5% in the fourth quarter. Invesco Ltd. now owns 1,165,385 shares of the company’s stock worth $47,594,000 after purchasing an additional 465,606 shares during the period. Alpine Woods Capital Investors LLC bought a new stake in shares of Figure Technology Solutions during the 4th quarter valued at $1,897,000. Prana Capital Management LP bought a new stake in shares of Figure Technology Solutions during the 4th quarter valued at $2,617,000. Quadrature Capital Ltd purchased a new stake in shares of Figure Technology Solutions in the 4th quarter worth about $4,022,000. Finally, Concentric Capital Strategies LP bought a new position in shares of Figure Technology Solutions in the 4th quarter worth about $15,467,000.

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.