Figure Technology Solutions’ (FIGR) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Figure Technology Solutions (NASDAQ:FIGR) in a report published on Thursday morning,Benzinga reports. They currently have a $71.00 price objective on the stock.

A number of other equities research analysts have also weighed in on the company. Bank of America lowered Figure Technology Solutions from a “neutral” rating to an “underperform” rating and set a $42.00 price objective on the stock. in a research report on Tuesday, February 3rd. Zacks Research upgraded shares of Figure Technology Solutions from a “hold” rating to a “strong-buy” rating in a report on Friday, January 2nd. Keefe, Bruyette & Woods boosted their price objective on shares of Figure Technology Solutions from $52.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, January 8th. Texas Capital raised shares of Figure Technology Solutions to a “strong-buy” rating in a research report on Thursday, January 29th. Finally, Piper Sandler lifted their target price on shares of Figure Technology Solutions from $55.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $59.50.

Figure Technology Solutions Stock Performance

Shares of Figure Technology Solutions stock opened at $41.27 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.26 and a quick ratio of 2.26. Figure Technology Solutions has a 52-week low of $30.01 and a 52-week high of $78.00. The business has a 50 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 released 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 firm had revenue of $156.03 million during the quarter.

Insider Activity at Figure Technology Solutions

In related news, insider David Todd Stevens sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $35.22, for a total value of $1,408,800.00. Following the completion of the transaction, the insider directly owned 489,000 shares in the company, valued at $17,222,580. The trade was a 7.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Benjamin Tannenbaum sold 90,026 shares of the business’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $35.12, for a total value of $3,161,713.12. Following the completion of the transaction, the chief executive officer owned 3,641,903 shares of the company’s stock, valued at $127,903,633.36. This represents a 2.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 3,344,073 shares of company stock valued at $123,816,526 over the last ninety days.

Institutional Investors Weigh In On Figure Technology Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Orland Properties Ltd bought a new stake in shares of Figure Technology Solutions in the third quarter worth $319,187,000. Vanguard Group Inc. boosted its position in Figure Technology Solutions by 17.9% in the fourth quarter. Vanguard Group Inc. now owns 2,974,853 shares of the company’s stock worth $121,493,000 after purchasing an additional 452,136 shares during the last quarter. Duquesne Family Office LLC bought a new stake in shares of Figure Technology Solutions during the 3rd quarter valued at about $76,989,000. Pantera Capital Partners LP purchased a new stake in shares of Figure Technology Solutions during the 3rd quarter valued at about $56,114,000. Finally, Capital World Investors bought a new position in shares of Figure Technology Solutions in the 3rd quarter worth approximately $50,918,000.

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.