Figure Technology Solutions, Inc. (NASDAQ:FIGR) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) have received an average recommendation of “Moderate Buy” from the eleven analysts that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, five have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $53.6250.

FIGR has been the subject of several research analyst reports. Mizuho upped 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. 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. Needham & Company LLC reiterated a “buy” rating and issued a $55.00 price target on shares of Figure Technology Solutions in a report on Wednesday, May 13th. Sanford C. Bernstein reduced their price target on shares of Figure Technology Solutions from $72.00 to $67.00 and set an “outperform” rating for the company in a report on Monday, March 30th. Finally, Bank of America reduced their price target on shares of Figure Technology Solutions from $34.00 to $31.00 in a report on Thursday, April 2nd.

Insider Buying and Selling at Figure Technology Solutions

In related news, CEO Michael Benjamin Tannenbaum sold 127,369 shares of the stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $33.35, for a total transaction of $4,247,756.15. Following the completion of the transaction, the chief executive officer owned 3,250,466 shares in the company, valued at approximately $108,403,041.10. This represents a 3.77% decrease in their ownership of the stock. The sale 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, insider David Todd Stevens sold 47,064 shares of the stock in a transaction 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 $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 have sold a total of 471,337 shares of company stock valued at $16,680,183 in the last three months. 26.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC acquired a new position in Figure Technology Solutions during the fourth quarter worth $25,000. WPG Advisers LLC boosted its holdings in Figure Technology Solutions by 71.1% during the first quarter. WPG Advisers LLC now owns 934 shares of the company’s stock worth $32,000 after purchasing an additional 388 shares during the last quarter. Strs Ohio acquired a new position in Figure Technology Solutions during the fourth quarter worth $34,000. MetLife Investment Management LLC acquired a new position in Figure Technology Solutions during the fourth quarter worth $35,000. Finally, Flagship Harbor Advisors LLC acquired a new position in Figure Technology Solutions during the fourth quarter worth $40,000.

Figure Technology Solutions Price Performance

Shares of NASDAQ FIGR opened at $28.55 on Friday. The stock has a market cap of $5.21 billion and a P/E ratio of 49.22. The firm has a 50 day moving average price of $34.04 and a 200 day moving average price of $39.26. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.90 and a current ratio of 1.90. Figure Technology Solutions has a 52-week low of $25.01 and a 52-week high of $78.00.

Figure Technology Solutions (NASDAQ:FIGR) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $166.84 million for the quarter. Analysts expect that Figure Technology Solutions will post 0.94 EPS for the current year.

Figure Technology Solutions declared that its board has authorized a stock buyback plan on Thursday, February 26th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to buy up to 3.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

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.