Figure Technology Solutions (NASDAQ:FIGR) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Figure Technology Solutions (NASDAQ:FIGR) in a research report report published on Wednesday morning,Benzinga reports. Needham & Company LLC currently has a $55.00 price objective on the stock.

Several other analysts have also recently weighed in on FIGR. 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 lowered their price target 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. Bank of America dropped their target price on shares of Figure Technology Solutions from $34.00 to $31.00 in a report on Thursday, April 2nd. Zacks Research raised Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 14th. Finally, Mizuho upped their price target on Figure Technology Solutions from $45.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $53.62.

Figure Technology Solutions Price Performance

FIGR stock opened at $30.65 on Wednesday. Figure Technology Solutions has a 1 year low of $25.01 and a 1 year high of $78.00. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market capitalization of $5.60 billion and a PE ratio of 52.84. The business has a 50 day simple moving average of $32.88 and a 200-day simple moving average of $38.48.

Figure Technology Solutions (NASDAQ:FIGR) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.18 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 anticipate that Figure Technology Solutions will post 0.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Michael Benjamin Tannenbaum sold 2,031 shares of Figure Technology Solutions stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $36.03, for a total transaction of $73,176.93. Following the completion of the sale, the chief executive officer directly owned 3,193,641 shares of the company’s stock, valued at approximately $115,066,885.23. The trade was a 0.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 dated Wednesday, May 13th. The stock was sold at an average price of $38.20, for a total value of $1,344,258.00. 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 have sold 479,337 shares of company stock worth $16,910,863 over the last ninety days. Company insiders own 26.60% of the company’s stock.

Hedge Funds Weigh In On Figure Technology Solutions

Hedge funds have recently added to or reduced their stakes in the stock. Pictet Asset Management Holding SA lifted its holdings in shares of Figure Technology Solutions by 69.7% during the fourth quarter. Pictet Asset Management Holding SA now owns 67,893 shares of the company’s stock worth $2,773,000 after purchasing an additional 27,893 shares during the period. UBS Group AG raised its position in Figure Technology Solutions by 322.9% during the 4th quarter. UBS Group AG now owns 885,977 shares of the company’s stock worth $36,183,000 after buying an additional 676,470 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Figure Technology Solutions in the 4th quarter worth $1,416,000. Vanguard Group Inc. boosted its holdings in shares of Figure Technology Solutions by 17.9% in 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 in the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new position in shares of Figure Technology Solutions during the fourth quarter worth about $5,041,000.

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.