Figure Technology Solutions (NASDAQ:FIGR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Figure Technology Solutions (NASDAQ:FIGR) from a sell rating to a hold rating in a research report report published on Saturday.

A number of other equities research analysts also recently weighed in on the company. Weiss Ratings upgraded Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 4th. Piper Sandler cut their price target on Figure Technology Solutions from $75.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 price objective on shares of Figure Technology Solutions in a research report on Friday. Sanford C. Bernstein lifted their price objective on shares of Figure Technology Solutions from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $50.62.

Figure Technology Solutions Stock Performance

FIGR stock opened at $35.76 on Friday. The stock has a 50-day moving average price of $29.42 and a 200-day moving average price of $33.51. Figure Technology Solutions has a 1-year low of $24.11 and a 1-year high of $78.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.20. The firm has a market cap of $6.53 billion and a PE ratio of 38.45.

Figure Technology Solutions (NASDAQ:FIGR) last announced its earnings results on Thursday, August 13th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.24 by $0.11. Figure Technology Solutions had a return on equity of 19.58% and a net margin of 33.45%.The company had revenue of $218.45 million for the quarter. As a group, equities research analysts expect that Figure Technology Solutions will post 1.01 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Michael Benjamin Tannenbaum sold 2,031 shares of Figure Technology Solutions stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $36.03, for a total value of $73,176.93. Following the sale, the chief executive officer owned 3,193,641 shares of the company’s stock, valued at approximately $115,066,885.23. The trade was a 0.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Minchung Kgil sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $30.03, for a total value of $120,120.00. Following the completion of the transaction, the chief financial officer owned 491,651 shares in the company, valued at approximately $14,764,279.53. The trade was a 0.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 27,148 shares of company stock worth $810,554 over the last quarter. Company insiders own 26.60% of the company’s stock.

Institutional Investors Weigh In On Figure Technology Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FIGR. Global Retirement Partners LLC bought a new stake in shares of Figure Technology Solutions in the fourth quarter valued at approximately $25,000. WPG Advisers LLC boosted its holdings in Figure Technology Solutions by 71.1% in the 1st quarter. WPG Advisers LLC now owns 934 shares of the company’s stock worth $32,000 after buying an additional 388 shares during the period. Strs Ohio bought a new position in Figure Technology Solutions in the 4th quarter worth approximately $34,000. MetLife Investment Management LLC purchased a new position in Figure Technology Solutions in the 4th quarter valued at approximately $35,000. Finally, Johnson Financial Group Inc. purchased a new position in Figure Technology Solutions in the 4th quarter valued at approximately $41,000.

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.