Figure Technology Solutions Target of Unusually Large Options Trading (NASDAQ:FIGR)

Figure Technology Solutions, Inc. (NASDAQ:FIGR) was the recipient of unusually large options trading activity on Tuesday. Stock traders acquired 10,239 call options on the company. This is an increase of 61% compared to the average volume of 6,359 call options.

Analysts Set New Price Targets

Several equities analysts recently issued reports on FIGR shares. Keefe, Bruyette & Woods raised Figure Technology Solutions from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, February 19th. The Goldman Sachs Group boosted their price target on Figure Technology Solutions from $51.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, January 13th. Sanford C. Bernstein upped their price target on Figure Technology Solutions from $54.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday, January 13th. Texas Capital upgraded Figure Technology Solutions to a “strong-buy” rating in a report on Thursday, January 29th. Finally, Weiss Ratings lowered Figure Technology Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, February 11th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $59.50.

Figure Technology Solutions Price Performance

Shares of Figure Technology Solutions stock opened at $29.75 on Wednesday. Figure Technology Solutions has a 1-year low of $28.37 and a 1-year high of $78.00. The stock’s fifty day simple moving average is $48.51. The company has a quick ratio of 2.26, a current ratio of 2.26 and a debt-to-equity ratio of 0.17. The stock has a market cap of $5.24 billion and a PE ratio of 87.50.

Insider Buying and Selling

In related news, CEO Michael Benjamin Tannenbaum sold 90,026 shares of Figure Technology Solutions stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $35.12, for a total transaction of $3,161,713.12. Following the completion of the transaction, the chief executive officer directly owned 3,641,903 shares of the company’s stock, valued at $127,903,633.36. This trade represents a 2.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director June Ou sold 200,058 shares of Figure Technology Solutions stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $39.40, for a total transaction of $7,882,285.20. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 723,136 shares of company stock worth $27,113,723 over the last 90 days.

Institutional Trading of Figure Technology Solutions

A number of hedge funds and other institutional investors have recently bought and sold shares of FIGR. Federated Hermes Inc. bought a new stake in Figure Technology Solutions in the third quarter worth $8,183,000. Lisanti Capital Growth LLC bought a new position in Figure Technology Solutions during the third quarter valued at $3,780,000. BIT Capital GmbH purchased a new stake in shares of Figure Technology Solutions in the third quarter valued at $7,718,000. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Figure Technology Solutions in the third quarter valued at $1,013,000. Finally, Mutual Advisors LLC bought a new stake in shares of Figure Technology Solutions in the 3rd quarter worth about $1,446,000.

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. 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.