Figure Technology Solutions (NASDAQ:FIGR) Price Target Cut to $37.00 by Analysts at Keefe, Bruyette & Woods

Figure Technology Solutions (NASDAQ:FIGR) had its price target decreased by Keefe, Bruyette & Woods from $45.00 to $37.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods‘s price target would suggest a potential upside of 57.32% from the company’s current price.

Several other brokerages have also commented on FIGR. Sanford C. Bernstein boosted their price target on Figure Technology Solutions from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Wall Street Zen upgraded Figure Technology Solutions from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Freedom Capital upgraded Figure Technology Solutions to a “strong-buy” rating in a research note on Thursday, October 15th. Zacks Research raised Figure Technology Solutions from a “hold” rating to a “strong-buy” rating in a report on Monday, August 17th. Finally, Weiss Ratings downgraded shares of Figure Technology Solutions from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, September 11th. Four equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $52.43.

Figure Technology Solutions Price Performance

FIGR traded up $0.79 during midday trading on Monday, reaching $23.52. 1,877,566 shares of the company’s stock were exchanged, compared to its average volume of 4,671,273. The firm has a market capitalization of $4.37 billion, a price-to-earnings ratio of 25.36, a price-to-earnings-growth ratio of 0.34 and a beta of 0.94. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.22. Figure Technology Solutions has a one year low of $19.54 and a one year high of $78.00. The business has a 50-day simple moving average of $29.39 and a two-hundred day simple moving average of $33.44.

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. Figure Technology Solutions had a return on equity of 18.90% and a net margin of 33.45%. The company had revenue of $218.45 million for the quarter. As a group, research analysts predict that Figure Technology Solutions will post 1.18 EPS for the current year.

Insider Buying and Selling

In other news, insider David Stevens sold 47,650 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider directly owned 376,599 shares of the company’s stock, valued at $11,817,676.62. The trade was a 11.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 stock was sold at an average price of $38.69, for a total value of $309,520.00. Following the completion of the transaction, the chief financial officer directly owned 483,651 shares in the company, valued at $18,712,457.19. The trade was a 1.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 59,650 shares of company stock valued at $1,924,897 in the last quarter. 26.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Figure Technology Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. State of Wyoming lifted its position in Figure Technology Solutions by 14.8% during the 1st quarter. State of Wyoming now owns 3,864 shares of the company’s stock worth $131,000 after buying an additional 498 shares in the last quarter. Arcus Capital Partners LLC increased its position in Figure Technology Solutions by 7.9% in the 1st quarter. Arcus Capital Partners LLC now owns 7,400 shares of the company’s stock valued at $251,000 after acquiring an additional 541 shares in the last quarter. HB Wealth Management LLC raised its stake in shares of Figure Technology Solutions by 4.5% in the second quarter. HB Wealth Management LLC now owns 18,389 shares of the company’s stock worth $565,000 after acquiring an additional 788 shares during the last quarter. WPG Advisers LLC raised its stake in shares of Figure Technology Solutions by 98.5% in the third quarter. WPG Advisers LLC now owns 1,640 shares of the company’s stock worth $47,000 after acquiring an additional 814 shares during the last quarter. Finally, Concurrent Investment Advisors LLC raised its stake in shares of Figure Technology Solutions by 16.0% in the second quarter. Concurrent Investment Advisors LLC now owns 6,988 shares of the company’s stock worth $215,000 after acquiring an additional 966 shares during the last quarter.

Figure Technology Solutions Company Profile

Figure Technology Solutions is a financial technology company that develops blockchain-based platforms for lending and capital markets. Its technology is designed to digitize and streamline financial transactions, including loan origination and the trading of financial assets.

The company’s offerings include home equity financing and technology for financial institutions and other lending partners. Figure also operates digital marketplaces and provides services supporting the issuance and transfer of assets on the Provenance Blockchain.

Founded in 2018 by entrepreneur Mike Cagney, Figure is based in the United States and serves consumers and financial services businesses.