Figure Technology Solutions, Inc. (NASDAQ:FIGR) Given Consensus Rating of “Moderate Buy” by Brokerages

Figure Technology Solutions, Inc. (NASDAQ:FIGR) has received an average recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, five have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $53.6250.

Several research analysts recently weighed in on FIGR shares. Weiss Ratings raised shares of Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 4th. Sanford C. Bernstein cut their target price on shares of Figure Technology Solutions from $72.00 to $67.00 and set an “outperform” rating on the stock in a report on Monday, March 30th. Needham & Company LLC reissued a “buy” rating and set a $55.00 price target on shares of Figure Technology Solutions in a research report on Wednesday, May 13th. Bank of America decreased their price target on shares of Figure Technology Solutions from $34.00 to $31.00 in a report on Thursday, April 2nd. Finally, Zacks Research raised Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 14th.

Insider Activity at Figure Technology Solutions

In other Figure Technology Solutions news, Director Michael Scott Cagney sold 35,190 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $38.20, for a total transaction of $1,344,258.00. Following the sale, the director directly owned 35,190 shares in the company, valued at approximately $1,344,258. This trade represents a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director June Ou sold 35,190 shares of Figure Technology Solutions stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $38.20, for a total transaction of $1,344,258.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 479,337 shares of company stock valued at $16,910,863 over the last 90 days. Insiders own 26.60% of the company’s stock.

Institutional Investors Weigh In On Figure Technology Solutions

Several institutional investors have recently added to or reduced their stakes in FIGR. CTC Alternative Strategies Ltd. bought a new position in Figure Technology Solutions during the 1st quarter worth about $511,000. Vestor Capital LLC lifted its holdings in shares of Figure Technology Solutions by 2,908.7% in the first quarter. Vestor Capital LLC now owns 81,234 shares of the company’s stock valued at $2,758,000 after purchasing an additional 78,534 shares in the last quarter. Feynman Point Asset Management LLC acquired a new position in Figure Technology Solutions during the 1st quarter worth approximately $2,865,000. Royal Bank of Canada grew its position in Figure Technology Solutions by 47.8% in the first quarter. Royal Bank of Canada now owns 35,749 shares of the company’s stock valued at $1,214,000 after purchasing an additional 11,560 shares in the last quarter. Finally, Regal Partners Ltd bought a new position in shares of Figure Technology Solutions in the 1st quarter valued at about $2,399,000.

Figure Technology Solutions Stock Performance

FIGR stock opened at $31.05 on Wednesday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.20. Figure Technology Solutions has a twelve month low of $25.01 and a twelve month high of $78.00. The business’s fifty day moving average is $32.92 and its 200-day moving average is $38.55. The company has a market cap of $5.67 billion and a P/E ratio of 53.53.

Figure Technology Solutions (NASDAQ:FIGR) last issued its earnings results on Monday, May 11th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The company had revenue of $166.84 million for the quarter. Equities research analysts forecast that Figure Technology Solutions will post 0.94 EPS for the current year.

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.