Figure Technology Solutions (NASDAQ:FIGR) Shares Up 10.8% Following Analyst Upgrade

Figure Technology Solutions, Inc. (NASDAQ:FIGR)’s share price traded up 10.8% on Monday after Piper Sandler raised their price target on the stock from $50.00 to $55.00. Piper Sandler currently has an overweight rating on the stock. Figure Technology Solutions traded as high as $46.46 and last traded at $44.58. 2,585,481 shares were traded during mid-day trading, a decline of 22% from the average session volume of 3,311,474 shares. The stock had previously closed at $40.24.

A number of other equities analysts have also weighed in on FIGR. Sanford C. Bernstein assumed coverage on Figure Technology Solutions in a research note on Monday, October 6th. They set an “outperform” rating and a $54.00 target price on the stock. Mizuho upped their price objective on Figure Technology Solutions from $47.00 to $56.00 and gave the company an “outperform” rating in a report on Monday. Wall Street Zen raised Figure Technology Solutions to a “hold” rating in a report on Monday, September 22nd. 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. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $51.00 price target on shares of Figure Technology Solutions in a research report on Monday. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Figure Technology Solutions has an average rating of “Moderate Buy” and a consensus target price of $49.94.

Insider Buying and Selling at Figure Technology Solutions

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

Hedge Funds Weigh In On Figure Technology Solutions

Several hedge funds and other institutional investors have recently modified their holdings of FIGR. Orland Properties Ltd acquired a new position in shares of Figure Technology Solutions during the 3rd quarter worth $319,187,000. Vanguard Group Inc. acquired a new position in Figure Technology Solutions during the third quarter worth about $91,751,000. Duquesne Family Office LLC acquired a new position in Figure Technology Solutions during the third quarter worth about $76,989,000. Pantera Capital Partners LP bought a new position in shares of Figure Technology Solutions in the third quarter worth about $56,114,000. Finally, Capital World Investors acquired a new stake in shares of Figure Technology Solutions in the 3rd quarter valued at approximately $50,918,000.

Figure Technology Solutions Stock Performance

The company’s fifty day moving average is $40.51.

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

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.