Figure Technology Solutions (NASDAQ:FIGR) Stock Rating Lowered by Bank of America

Figure Technology Solutions (NASDAQ:FIGR) was downgraded by investment analysts at Bank of America from a “neutral” rating to an “underperform” rating in a report issued on Tuesday, Marketbeat.com reports. They currently have a $42.00 price objective on the stock. Bank of America‘s price target would indicate a potential downside of 19.71% from the stock’s current price.

FIGR has been the subject of several other reports. Piper Sandler increased their target price on shares of Figure Technology Solutions from $55.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $51.00 price target on shares of Figure Technology Solutions in a report on Monday, November 17th. Mizuho raised their price objective on Figure Technology Solutions from $47.00 to $56.00 and gave the stock an “outperform” rating in a research note on Monday, November 17th. Jefferies Financial Group assumed coverage on Figure Technology Solutions in a research report on Monday, October 6th. They issued a “hold” rating and a $40.00 price target for the company. Finally, The Goldman Sachs Group boosted their price target on shares of Figure Technology Solutions from $51.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $57.00.

Figure Technology Solutions Trading Down 8.0%

Shares of Figure Technology Solutions stock opened at $52.31 on Tuesday. The firm has a market cap of $9.21 billion and a PE ratio of 153.85. Figure Technology Solutions has a twelve month low of $30.01 and a twelve month high of $78.00. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.26 and a quick ratio of 2.26. The business’s 50 day moving average is $48.97.

Figure Technology Solutions (NASDAQ:FIGR) last released its quarterly earnings data on Thursday, November 13th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.18. The firm had revenue of $156.03 million during the quarter.

Insider Activity at Figure Technology Solutions

In related news, Director Michael Scott Cagney sold 500,000 shares of the stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $36.22, for a total value of $18,110,000.00. Following the completion of the sale, the director owned 6,378,993 shares in the company, valued at approximately $231,047,126.46. This trade represents a 7.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Minchung Kgil sold 100,000 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $35.09, for a total value of $3,509,000.00. Following the transaction, the chief financial officer owned 617,149 shares in the company, valued at $21,655,758.41. This represents a 13.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 3,344,073 shares of company stock worth $123,816,526.

Institutional Investors Weigh In On Figure Technology Solutions

A number of institutional investors have recently bought and sold shares of FIGR. Orland Properties Ltd acquired a new position in shares of Figure Technology Solutions in the 3rd quarter valued at $319,187,000. Vanguard Group Inc. acquired a new position in Figure Technology Solutions in the third quarter worth about $91,751,000. Duquesne Family Office LLC bought a new position in Figure Technology Solutions during the third quarter worth about $76,989,000. Pantera Capital Partners LP acquired a new stake in Figure Technology Solutions during the third quarter valued at approximately $56,114,000. Finally, Capital World Investors bought a new stake in shares of Figure Technology Solutions in the 3rd quarter valued at approximately $50,918,000.

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.