Figure Technology Solutions (NASDAQ:FIGR) Price Target Cut to $67.00 by Analysts at Sanford C. Bernstein

Figure Technology Solutions (NASDAQ:FIGR) had its target price decreased by Sanford C. Bernstein from $72.00 to $67.00 in a report published on Monday morning,Benzinga reports. Sanford C. Bernstein currently has an outperform rating on the stock.

Several other research analysts also recently issued reports on FIGR. Bank of America downgraded shares of Figure Technology Solutions from a “neutral” rating to an “underperform” rating and set a $42.00 target price on the stock. in a research note on Tuesday, February 3rd. The Goldman Sachs Group decreased their price objective on shares of Figure Technology Solutions from $49.00 to $44.00 and set a “buy” rating for the company in a report on Monday, March 2nd. Piper Sandler upped their price objective on Figure Technology Solutions from $55.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Texas Capital upgraded Figure Technology Solutions to a “strong-buy” rating in a research note on Thursday, January 29th. Finally, Zacks Research lowered Figure Technology Solutions from a “hold” rating to a “strong sell” rating in a report on Monday, March 16th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $53.75.

Figure Technology Solutions Price Performance

FIGR opened at $30.71 on Monday. The stock has a market cap of $5.45 billion and a price-to-earnings ratio of 76.78. The stock has a 50-day moving average of $40.07. Figure Technology Solutions has a 1 year low of $25.01 and a 1 year high of $78.00. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 0.19.

Figure Technology Solutions (NASDAQ:FIGR) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.07). The company had revenue of $157.63 million for the quarter, compared to the consensus estimate of $158.00 million. The company’s quarterly revenue was up 90.7% compared to the same quarter last year.

Figure Technology Solutions announced that its Board of Directors has approved a share repurchase program on Thursday, February 26th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Figure Technology Solutions

In other news, insider David Todd Stevens sold 49,708 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $32.02, for a total transaction of $1,591,650.16. Following the completion of the transaction, the insider directly owned 436,089 shares of the company’s stock, valued at $13,963,569.78. The trade was a 10.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sachin Chand Jaitly sold 216,713 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $33.64, for a total transaction of $7,290,225.32. The SEC filing for this sale provides additional information. Insiders have sold 292,478 shares of company stock valued at $9,715,699 over the last three months.

Institutional Trading of Figure Technology Solutions

A number of hedge funds have recently bought and sold shares of FIGR. Global Retirement Partners LLC bought a new position in Figure Technology Solutions in the fourth quarter valued at about $25,000. Strs Ohio bought a new stake in shares of Figure Technology Solutions during the 4th quarter valued at about $34,000. MetLife Investment Management LLC purchased a new stake in shares of Figure Technology Solutions during the 4th quarter valued at about $35,000. Flagship Harbor Advisors LLC bought a new position in shares of Figure Technology Solutions in the 4th quarter worth approximately $40,000. Finally, Johnson Financial Group Inc. bought a new position in shares of Figure Technology Solutions in the 4th quarter worth approximately $41,000.

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. 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.