Figure Technology Solutions (NASDAQ:FIGR) Stock Price Expected to Rise, Bank of America Analyst Says

Figure Technology Solutions (NASDAQ:FIGR) had its price objective increased by research analysts at Bank of America from $41.00 to $47.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Bank of America‘s price target points to a potential upside of 19.93% from the company’s current price.

FIGR has been the topic of several other reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $51.00 price objective on shares of Figure Technology Solutions in a research report on Monday. Mizuho boosted their price target on Figure Technology Solutions from $47.00 to $56.00 and gave the company an “outperform” rating in a report on Monday. Keefe, Bruyette & Woods began coverage on Figure Technology Solutions in a research report on Monday, October 6th. They set an “outperform” rating and a $48.50 price objective for the company. Zacks Research raised Figure Technology Solutions to a “hold” rating in a research report on Tuesday, October 7th. Finally, Wall Street Zen upgraded Figure Technology Solutions to a “hold” rating in a research note on Monday, September 22nd. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $50.38.

Figure Technology Solutions Stock Down 7.2%

Shares of Figure Technology Solutions stock opened at $39.19 on Monday. Figure Technology Solutions has a 1 year low of $30.01 and a 1 year high of $49.50. The stock has a 50-day simple moving average of $40.48.

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

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

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.