Figure Technology Solutions (NASDAQ:FIGR) Upgraded at Freedom Capital

Figure Technology Solutions (NASDAQ:FIGR) was upgraded by Freedom Capital to a “strong-buy” rating in a research note issued to investors on Thursday, Zacks reports.

A number of other research firms have also weighed in on FIGR. Freedom Broker upgraded shares of Figure Technology Solutions to a “strong-buy” rating in a report on Thursday. Keefe, Bruyette & Woods cut their price target on Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating for the company in a research note on Monday, July 13th. Needham & Company LLC reissued a “buy” rating on shares of Figure Technology Solutions in a report on Wednesday, October 7th. Weiss Ratings lowered Figure Technology Solutions from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, September 11th. Finally, Sanford C. Bernstein raised their price target on shares of Figure Technology Solutions from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Four analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $53.57.

Figure Technology Solutions Stock Down 2.0%

FIGR traded down $0.54 during trading on Thursday, hitting $27.13. 4,725,687 shares of the company’s stock were exchanged, compared to its average volume of 5,121,992. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.22. The business’s 50 day moving average is $32.93 and its two-hundred day moving average is $32.46. Figure Technology Solutions has a fifty-two week low of $24.10 and a fifty-two week high of $78.00. The stock has a market cap of $5.04 billion and a P/E ratio of 29.17.

Figure Technology Solutions (NASDAQ:FIGR) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.11. The firm had revenue of $218.45 million for the quarter. Figure Technology Solutions had a net margin of 33.45% and a return on equity of 18.90%. As a group, equities analysts expect that Figure Technology Solutions will post 1.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider David Stevens sold 47,650 shares of Figure Technology Solutions stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $31.38, for a total value of $1,495,257.00. Following the completion of the sale, the insider owned 376,599 shares of the company’s stock, valued at approximately $11,817,676.62. This trade represents a 11.23% decrease in their position. The sale was disclosed in a legal filing 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 8,000 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $38.69, for a total transaction of $309,520.00. Following the completion of the sale, the chief financial officer directly owned 483,651 shares in the company, valued at approximately $18,712,457.19. This trade represents a 1.63% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 63,650 shares of company stock valued at $2,037,417 over the last three months. Company insiders own 26.60% of the company’s stock.

Institutional Investors Weigh In On Figure Technology Solutions

A number of institutional investors and hedge funds have recently bought and sold shares of FIGR. Sax Wealth Advisors LLC bought a new position in Figure Technology Solutions during the third quarter valued at approximately $589,000. GAMMA Investing LLC raised its stake in shares of Figure Technology Solutions by 176.6% during the third quarter. GAMMA Investing LLC now owns 1,690 shares of the company’s stock worth $49,000 after acquiring an additional 1,079 shares in the last quarter. Moody National Bank Trust Division lifted its holdings in shares of Figure Technology Solutions by 106.3% in the 3rd quarter. Moody National Bank Trust Division now owns 113,759 shares of the company’s stock worth $3,282,000 after acquiring an additional 58,609 shares during the last quarter. Whetstone Capital Advisors LLC bought a new stake in shares of Figure Technology Solutions in the 2nd quarter worth approximately $6,939,000. Finally, Engineers Gate Manager LP purchased a new stake in shares of Figure Technology Solutions in the 2nd quarter valued at $3,398,000.

About Figure Technology Solutions

Figure Technology Solutions, Inc is a financial technology company that develops blockchain- and artificial intelligence-enabled solutions for lending and financial services. The company’s technology is designed to support the origination, servicing, financing and trading of financial assets through more efficient digital processes.

Figure’s business activities have included home equity lending, personal lending, mortgage-related services and financial asset marketplaces. Its platform has also been used to facilitate the issuance and transfer of loans and other financial products, with blockchain technology intended to improve transparency, settlement and recordkeeping.

The company was founded by Mike Cagney, who previously co-founded Social Finance, Inc (SoFi), and Figure has operated primarily in the United States.