Figure Technology Solutions (NASDAQ:FIGR) Stock Price Up 7.8% – Should You Buy?

Figure Technology Solutions, Inc. (NASDAQ:FIGR) shares were up 7.8% on Monday . The stock traded as high as $30.81 and last traded at $30.77. 1,102,107 shares changed hands during trading, a decline of 77% from the average daily volume of 4,817,568 shares. The stock had previously closed at $28.55.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on FIGR shares. Weiss Ratings raised shares of Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 4th. Zacks Research upgraded shares of Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 14th. The Goldman Sachs Group decreased their target price on Figure Technology Solutions from $49.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, March 2nd. Mizuho lifted their price target on shares of Figure Technology Solutions from $45.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Finally, Bank of America dropped their price objective on shares of Figure Technology Solutions from $34.00 to $31.00 in a research note on Thursday, April 2nd. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $53.62.

Figure Technology Solutions Stock Up 6.2%

The firm has a market capitalization of $5.54 billion and a price-to-earnings ratio of 52.41. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a fifty day moving average of $34.04 and a two-hundred day moving average of $39.29.

Figure Technology Solutions (NASDAQ:FIGR) last announced its earnings results on Monday, May 11th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.17 by $0.01. The company had revenue of $166.84 million for the quarter. Sell-side analysts anticipate that Figure Technology Solutions, Inc. will post 0.94 earnings per share for the current year.

Figure Technology Solutions declared that its board has approved a share buyback program on Thursday, February 26th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Figure Technology Solutions news, Director June Ou sold 35,190 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $38.20, for a total transaction of $1,344,258.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Todd Stevens sold 47,064 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $42.35, for a total transaction of $1,993,160.40. Following the transaction, the insider owned 406,051 shares of the company’s stock, valued at approximately $17,196,259.85. The trade was a 10.39% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 471,337 shares of company stock valued at $16,680,183 over the last three months. Insiders own 26.60% of the company’s stock.

Institutional Trading of Figure Technology Solutions

A number of institutional investors have recently bought and sold shares of FIGR. PNC Financial Services Group Inc. acquired a new stake in Figure Technology Solutions during the 3rd quarter worth about $73,000. JPMorgan Chase & Co. acquired a new position in shares of Figure Technology Solutions in the 3rd quarter valued at about $15,529,000. Vanguard Group Inc. bought a new stake in shares of Figure Technology Solutions during the 3rd quarter valued at about $91,751,000. Fidelity National Financial Inc. acquired a new stake in Figure Technology Solutions during the third quarter worth approximately $9,092,000. Finally, WIM INVESTMENT MANAGEMENT Ltd bought a new stake in Figure Technology Solutions in the third quarter worth approximately $17,650,000.

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.