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

Figure Technology Solutions, Inc. (NASDAQ:FIGR) has been assigned an average rating of “Moderate Buy” from the eleven brokerages that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $59.50.

Several research analysts recently issued reports on FIGR shares. Texas Capital raised shares of Figure Technology Solutions to a “strong-buy” rating in a research report on Thursday, January 29th. Keefe, Bruyette & Woods increased their target price on Figure Technology Solutions from $52.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, January 8th. Zacks Research lowered Figure Technology Solutions from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Mizuho upped their price target on Figure Technology Solutions from $47.00 to $56.00 and gave the company an “outperform” rating in a research report on Monday, November 17th. Finally, Piper Sandler lifted their price objective on Figure Technology Solutions from $55.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th.

Insider Activity

In other news, Director Michael Scott Cagney sold 500,000 shares of Figure Technology Solutions stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $36.22, for a total value of $18,110,000.00. Following the completion of the transaction, the director owned 6,378,993 shares in the company, valued at approximately $231,047,126.46. The trade was a 7.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael Benjamin Tannenbaum sold 908,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $39.19, for a total value of $35,584,520.00. Following the completion of the transaction, the chief executive officer directly owned 3,921,366 shares in the company, valued at $153,678,333.54. The trade was a 18.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 3,344,073 shares of company stock valued at $123,816,526.

Hedge Funds Weigh In On Figure Technology Solutions

A number of institutional investors and hedge funds have recently bought and sold shares of FIGR. Global Retirement Partners LLC acquired a new stake in shares of Figure Technology Solutions in the fourth quarter valued at $25,000. Leonteq Securities AG bought a new stake in Figure Technology Solutions during the 4th quarter worth about $607,000. Investment House LLC acquired a new stake in Figure Technology Solutions in the 4th quarter valued at about $9,006,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in shares of Figure Technology Solutions in the fourth quarter worth about $16,052,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of Figure Technology Solutions by 69.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,379 shares of the company’s stock worth $138,000 after purchasing an additional 1,379 shares in the last quarter.

Figure Technology Solutions Price Performance

Shares of FIGR stock opened at $41.27 on Friday. Figure Technology Solutions has a one year low of $30.01 and a one year high of $78.00. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.26 and a current ratio of 2.26. The business has a fifty day moving average price of $49.53. The company has a market capitalization of $7.27 billion and a PE ratio of 121.38.

Figure Technology Solutions (NASDAQ:FIGR) last announced its quarterly earnings data on Thursday, November 13th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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. 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.