Figure Technology Solutions (NASDAQ:FIGR) Shares Gap Up – What’s Next?

Figure Technology Solutions, Inc. (NASDAQ:FIGR)’s share price gapped up before the market opened on Monday . The stock had previously closed at $35.49, but opened at $37.41. Figure Technology Solutions shares last traded at $35.7580, with a volume of 469,206 shares changing hands.

Analyst Upgrades and Downgrades

FIGR has been the subject of several recent research reports. Wall Street Zen upgraded shares of Figure Technology Solutions from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings downgraded Figure Technology Solutions from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, September 11th. Piper Sandler lowered their price objective on Figure Technology Solutions from $75.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. Sanford C. Bernstein boosted their target price on Figure Technology Solutions from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $55.00 target price on shares of Figure Technology Solutions in a research note on Thursday, August 20th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Figure Technology Solutions presently has a consensus rating of “Moderate Buy” and an average target price of $52.88.

Figure Technology Solutions Stock Up 1.0%

The company’s 50-day simple moving average is $32.55 and its two-hundred day simple moving average is $32.99. The firm has a market capitalization of $6.65 billion and a P/E ratio of 38.51. 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 quarterly earnings data 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. The firm had revenue of $218.45 million during the quarter. Figure Technology Solutions had a net margin of 33.45% and a return on equity of 18.90%. As a group, research analysts expect that Figure Technology Solutions, Inc. will post 1.2 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 business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $38.69, for a total transaction of $309,520.00. Following the completion of the transaction, the chief financial officer directly owned 483,651 shares in the company, valued at approximately $18,712,457.19. The trade was a 1.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 that occurred on Friday, August 14th. The stock was sold at an average price of $31.38, for a total transaction of $1,495,257.00. Following the completion of the sale, the insider directly owned 376,599 shares of the company’s stock, valued at $11,817,676.62. This represents a 11.23% decrease in their ownership of the stock. 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. In the last 90 days, insiders sold 71,650 shares of company stock valued at $2,268,097. Company insiders own 26.60% of the company’s stock.

Hedge Funds Weigh In On Figure Technology Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FIGR. WPG Advisers LLC grew its holdings 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 buying an additional 388 shares in the last quarter. State of Wyoming lifted 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 acquiring an additional 498 shares in the last quarter. Arcus Capital Partners LLC grew its stake in shares of Figure Technology Solutions by 7.9% during the 1st quarter. Arcus Capital Partners LLC now owns 7,400 shares of the company’s stock worth $251,000 after acquiring an additional 541 shares in the last quarter. HB Wealth Management LLC raised its holdings in shares of Figure Technology Solutions by 4.5% in the second quarter. HB Wealth Management LLC now owns 18,389 shares of the company’s stock valued at $565,000 after purchasing an additional 788 shares during the last quarter. Finally, Concurrent Investment Advisors LLC lifted its position in shares of Figure Technology Solutions by 16.0% in the second quarter. Concurrent Investment Advisors LLC now owns 6,988 shares of the company’s stock worth $215,000 after purchasing an additional 966 shares in the last quarter.

Figure Technology Solutions Company Profile

Figure Technology Solutions, Inc is a financial technology company that develops and operates digital platforms for lending and other financial services. Its technology is designed to streamline the origination, underwriting, servicing and funding of loans through automated processes and data-driven tools.

The company’s offerings have included home equity financing, personal loans and related lending products, delivered directly to consumers and through institutional or other financial-services partners.