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

Figure Technology Solutions, Inc. (NASDAQ:FIGR) has received an average recommendation of “Moderate Buy” from the nine analysts that are covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $47.4375.

Several equities research analysts have recently issued reports on FIGR shares. Sanford C. Bernstein started coverage on Figure Technology Solutions in a research note on Monday, October 6th. They issued an “outperform” rating and a $54.00 price objective for the company. Wall Street Zen upgraded shares of Figure Technology Solutions to a “hold” rating in a report on Monday, September 22nd. Jefferies Financial Group started coverage on Figure Technology Solutions in a report on Monday, October 6th. They set a “hold” rating and a $40.00 price objective on the stock. Keefe, Bruyette & Woods initiated coverage on shares of Figure Technology Solutions in a research note on Monday, October 6th. They set an “outperform” rating and a $48.50 price objective on the stock. Finally, Zacks Research raised shares of Figure Technology Solutions to a “hold” rating in a research report on Tuesday, October 7th.

Insiders Place Their Bets

In other news, CEO Michael Benjamin Tannenbaum sold 297,171 shares of the company’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $25.00, for a total value of $7,429,275.00. Following the sale, the chief executive officer directly owned 4,092,576 shares of the company’s stock, valued at $102,314,400. This represents a 6.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Adam Gilbert Boyden sold 468,860 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $25.00, for a total value of $11,721,500.00. Following the completion of the transaction, the director directly owned 6,651,158 shares of the company’s stock, valued at approximately $166,278,950. This trade represents a 6.59% decrease in their position. The SEC filing for this sale provides additional information.

Institutional Investors Weigh In On Figure Technology Solutions

Several hedge funds have recently modified their holdings of FIGR. Blue Trust Inc. acquired a new position in Figure Technology Solutions in the 3rd quarter worth about $64,000. Hennessy Advisors Inc. acquired a new position in Figure Technology Solutions in the 3rd quarter valued at $255,000. Voya Investment Management LLC purchased a new position in Figure Technology Solutions in the 3rd quarter valued at $721,000. Emerald Mutual Fund Advisers Trust acquired a new stake in Figure Technology Solutions in the 3rd quarter valued at about $1,013,000. Finally, CWA Asset Management Group LLC acquired a new position in Figure Technology Solutions during the third quarter worth $1,412,000.

Figure Technology Solutions Trading Down 4.5%

Shares of FIGR stock opened at $40.66 on Friday. Figure Technology Solutions has a 12-month low of $30.01 and a 12-month high of $49.50.

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.