Figure Technology Solutions, Inc. (NASDAQ:FIGR) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Figure Technology Solutions, Inc. (NASDAQ:FIGR) has received an average rating of “Moderate Buy” from the ten research firms that are covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $50.3750.

A number of research firms recently commented on FIGR. Weiss Ratings raised Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday. The Goldman Sachs Group boosted their target price on shares of Figure Technology Solutions from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, October 14th. Sanford C. Bernstein started coverage on shares of Figure Technology Solutions in a report on Monday, October 6th. They set an “outperform” rating and a $54.00 price target for the company. Needham & Company LLC reissued a “buy” rating and issued a $51.00 price objective on shares of Figure Technology Solutions in a research note on Monday, November 17th. Finally, Wall Street Zen upgraded Figure Technology Solutions to a “hold” rating in a research note on Monday, September 22nd.

Figure Technology Solutions Price Performance

Shares of FIGR stock opened at $42.21 on Friday. Figure Technology Solutions has a 1 year low of $30.01 and a 1 year high of $49.50. The company has a 50 day moving average of $38.89.

Figure Technology Solutions (NASDAQ:FIGR) last announced its quarterly earnings data on Thursday, November 13th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.18. The company had revenue of $156.03 million during the quarter.

Insiders Place Their Bets

In related news, CEO Michael Benjamin Tannenbaum sold 908,000 shares of Figure Technology Solutions stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $39.19, for a total transaction of $35,584,520.00. Following the sale, the chief executive officer directly owned 3,921,366 shares of the company’s stock, valued at approximately $153,678,333.54. The trade was a 18.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director June Ou sold 500,000 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $36.22, for a total transaction of $18,110,000.00. Following the transaction, the director owned 6,378,993 shares of the company’s stock, valued at approximately $231,047,126.46. This represents a 7.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 3,344,073 shares of company stock worth $123,816,526 in the last ninety days.

Institutional Trading of Figure Technology Solutions

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Zweig DiMenna Associates LLC acquired a new stake in shares of Figure Technology Solutions during the third quarter valued at about $10,711,000. Ameritas Advisory Services LLC bought a new position in Figure Technology Solutions in the 3rd quarter valued at approximately $200,000. SBI Securities Co. Ltd. acquired a new stake in Figure Technology Solutions during the 3rd quarter worth approximately $66,000. Mutual Advisors LLC acquired a new stake in Figure Technology Solutions during the 3rd quarter worth approximately $1,446,000. Finally, Lisanti Capital Growth LLC bought a new stake in Figure Technology Solutions during the 3rd quarter worth approximately $3,780,000.

About Figure Technology Solutions

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.