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

Shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) have been given an average rating of “Moderate Buy” by the nine research firms that are covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $50.3750.

Several brokerages have recently commented on FIGR. Zacks Research upgraded Figure Technology Solutions to a “hold” rating in a research note on Tuesday, October 7th. Piper Sandler upped their target price on Figure Technology Solutions from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, November 17th. Bank of America lifted their price target on shares of Figure Technology Solutions from $41.00 to $47.00 and gave the company a “neutral” rating in a report on Monday, November 17th. Needham & Company LLC restated a “buy” rating and set a $51.00 price objective on shares of Figure Technology Solutions in a research note on Monday, November 17th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Figure Technology Solutions from $48.50 to $52.00 and gave the stock an “outperform” rating in a report on Tuesday, November 18th.

Insider Buying and Selling

In related news, CEO Michael Benjamin Tannenbaum sold 908,000 shares of the company’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $39.19, for a total transaction of $35,584,520.00. Following the sale, the chief executive officer owned 3,921,366 shares of the company’s stock, valued at $153,678,333.54. This represents a 18.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director June Ou sold 250,000 shares of Figure Technology Solutions stock in a transaction on Friday, November 21st. The stock was sold at an average price of $34.06, for a total transaction of $8,515,000.00. Following the transaction, the director directly owned 6,128,993 shares of the company’s stock, valued at $208,753,501.58. The trade was a 3.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,257,531 shares of company stock valued at $111,266,010 in the last three months.

Institutional Investors Weigh In On Figure Technology Solutions

A number of institutional investors have recently added to or reduced their stakes in the stock. Voya Investment Management LLC acquired a new stake in Figure Technology Solutions in the third quarter valued at approximately $721,000. Exchange Traded Concepts LLC acquired a new position in Figure Technology Solutions in the third quarter valued at approximately $5,963,000. Blue Trust Inc. purchased a new position in Figure Technology Solutions in the third quarter valued at $64,000. Hennessy Advisors Inc. acquired a new position in shares of Figure Technology Solutions during the 3rd quarter worth approximately $255,000. Finally, CWA Asset Management Group LLC purchased a new position in Figure Technology Solutions in the 3rd quarter valued at about $1,412,000.

Figure Technology Solutions Price Performance

NASDAQ FIGR opened at $35.77 on Tuesday. Figure Technology Solutions has a 12 month low of $30.01 and a 12 month high of $49.50. The firm has a 50 day moving average of $40.08.

Figure Technology Solutions (NASDAQ:FIGR) last issued its quarterly earnings data on Thursday, November 13th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.18. The business had revenue of $156.03 million during the quarter.

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.