Figure Technology Solutions (NASDAQ:FIGR) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of Figure Technology Solutions (NASDAQ:FIGR) from a hold rating to a strong-buy rating in a research report report published on Monday morning,Zacks.com reports.

Other research analysts also recently issued research reports about the stock. Needham & Company LLC reiterated a “buy” rating and issued a $55.00 target price on shares of Figure Technology Solutions in a research note on Friday, August 14th. Weiss Ratings upgraded shares of Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 4th. Sanford C. Bernstein upped their price objective on Figure Technology Solutions from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Piper Sandler reduced their target price on Figure Technology Solutions from $75.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, July 15th. Finally, Wall Street Zen raised Figure Technology Solutions from a “sell” rating to a “hold” rating in a report on Saturday. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Figure Technology Solutions currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.62.

Figure Technology Solutions Trading Down 0.7%

NASDAQ FIGR opened at $35.52 on Monday. Figure Technology Solutions has a 12 month low of $24.11 and a 12 month 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 stock’s fifty day moving average price is $29.56 and its 200-day moving average price is $33.29. The stock has a market cap of $6.49 billion and a P/E ratio of 38.19.

Figure Technology Solutions (NASDAQ:FIGR) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.35 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $218.45 million during the quarter. As a group, equities analysts forecast that Figure Technology Solutions will post 1.18 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Minchung Kgil sold 9,117 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $30.06, for a total transaction of $274,057.02. Following the completion of the sale, the chief financial officer owned 507,651 shares in the company, valued at approximately $15,259,989.06. This represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David Todd Stevens sold 47,650 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $31.38, for a total value of $1,495,257.00. Following the completion of the transaction, the insider directly owned 376,599 shares in the company, valued at approximately $11,817,676.62. This represents a 11.23% 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. Over the last 90 days, insiders sold 72,767 shares of company stock worth $2,232,634. Company insiders own 26.60% of the company’s stock.

Institutional Investors Weigh In On Figure Technology Solutions

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

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.