Figure Technology Solutions (NASDAQ:FIGR) Stock Rating Lowered by Wall Street Zen

Figure Technology Solutions (NASDAQ:FIGR) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Sunday.

Other equities analysts have also recently issued reports about the company. Needham & Company LLC restated a “buy” rating and set a $55.00 target price on shares of Figure Technology Solutions in a research report on Wednesday. Weiss Ratings raised Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 4th. Bank of America dropped their price target on Figure Technology Solutions from $34.00 to $31.00 in a research report on Thursday, April 2nd. Sanford C. Bernstein cut their price objective on Figure Technology Solutions from $72.00 to $67.00 and set an “outperform” rating for the company in a report on Monday, March 30th. Finally, Zacks Research upgraded shares of Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 14th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $53.62.

Figure Technology Solutions Price Performance

NASDAQ FIGR traded down $0.99 on Friday, hitting $31.80. The stock had a trading volume of 1,887,061 shares, compared to its average volume of 4,217,352. The firm has a 50-day moving average of $32.82 and a 200-day moving average of $38.37. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.90 and a current ratio of 1.90. Figure Technology Solutions has a 52-week low of $25.01 and a 52-week high of $78.00. The company has a market capitalization of $5.81 billion and a price-to-earnings ratio of 54.83.

Figure Technology Solutions (NASDAQ:FIGR) last released its quarterly earnings results on Monday, May 11th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $166.84 million for the quarter. Equities analysts expect that Figure Technology Solutions will post 0.89 EPS for the current year.

Insider Buying and Selling

In related news, CFO Minchung Kgil sold 9,117 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $30.06, for a total value of $274,057.02. Following the completion of the transaction, the chief financial officer directly owned 507,651 shares in the company, valued at approximately $15,259,989.06. The trade was a 1.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David Todd Stevens sold 47,064 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $42.35, for a total value of $1,993,160.40. Following the sale, the insider owned 406,051 shares in the company, valued at $17,196,259.85. The trade was a 10.39% decrease in their position. 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 sold 479,337 shares of company stock valued at $16,910,863 in the last three months. 26.60% of the stock is owned by corporate insiders.

Institutional Trading of Figure Technology Solutions

A number of hedge funds have recently bought and sold shares of FIGR. J Digital 6 LLC boosted its stake in Figure Technology Solutions by 9.1% in the fourth quarter. J Digital 6 LLC now owns 3,276,587 shares of the company’s stock worth $133,816,000 after buying an additional 274,145 shares in the last quarter. Vanguard Group Inc. grew its position in Figure Technology Solutions by 17.9% during the fourth quarter. Vanguard Group Inc. now owns 2,974,853 shares of the company’s stock valued at $121,493,000 after acquiring an additional 452,136 shares during the last quarter. Duquesne Family Office LLC purchased a new position in shares of Figure Technology Solutions during the third quarter worth approximately $76,989,000. Fred Alger Management LLC bought a new stake in shares of Figure Technology Solutions in the 4th quarter worth approximately $67,386,000. Finally, Pantera Capital Partners LP bought a new stake in shares of Figure Technology Solutions in the 3rd quarter worth approximately $56,114,000.

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.