Keefe, Bruyette & Woods Upgrades Figure Technology Solutions (NASDAQ:FIGR) to “Strong-Buy”

Figure Technology Solutions (NASDAQ:FIGR) was upgraded by analysts at Keefe, Bruyette & Woods from a “moderate buy” rating to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

A number of other equities analysts also recently commented on the company. Sanford C. Bernstein lifted their target price on Figure Technology Solutions from $54.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, January 13th. Piper Sandler boosted 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $71.00 target price on shares of Figure Technology Solutions in a research report on Thursday, February 5th. The Goldman Sachs Group raised their target price on Figure Technology Solutions from $51.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th. Finally, Mizuho upped their price target on shares of Figure Technology Solutions from $47.00 to $56.00 and gave the stock an “outperform” rating in a research report on Monday, November 17th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Figure Technology Solutions currently has an average rating of “Moderate Buy” and a consensus price target of $59.50.

Figure Technology Solutions Stock Performance

NASDAQ FIGR opened at $29.12 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 one year low of $29.02 and a one year high of $78.00. The firm has a 50-day simple moving average of $48.85. The firm has a market cap of $5.13 billion and a price-to-earnings ratio of 85.65.

Insider Activity at Figure Technology Solutions

In other news, Director June Ou sold 200,058 shares of the firm’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $39.40, for a total transaction of $7,882,285.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael Scott Cagney sold 200,058 shares of Figure Technology Solutions stock in a transaction dated 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 have sold a total of 852,573 shares of company stock worth $31,701,291 in the last ninety days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FIGR. Invesco Ltd. increased its stake in shares of Figure Technology Solutions by 66.5% during the fourth quarter. Invesco Ltd. now owns 1,165,385 shares of the company’s stock valued at $47,594,000 after acquiring an additional 465,606 shares during the period. Alpine Woods Capital Investors LLC acquired a new position in shares of Figure Technology Solutions during the 4th quarter valued at $1,897,000. Prana Capital Management LP bought a new stake in shares of Figure Technology Solutions in the 4th quarter worth $2,617,000. Quadrature Capital Ltd acquired a new stake in shares of Figure Technology Solutions in the fourth quarter valued at $4,022,000. Finally, Concentric Capital Strategies LP acquired a new stake in shares of Figure Technology Solutions in the fourth quarter valued at $15,467,000.

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.