Figure Technology Solutions, Inc. (NASDAQ:FIGR) Receives $47.44 Consensus Target Price from Brokerages

Figure Technology Solutions, Inc. (NASDAQ:FIGR) has been assigned an average recommendation of “Moderate Buy” from the nine brokerages that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $47.4375.

A number of research firms recently commented on FIGR. Sanford C. Bernstein started coverage on Figure Technology Solutions in a research note on Monday, October 6th. They issued an “outperform” rating and a $54.00 price objective on the stock. Keefe, Bruyette & Woods assumed coverage on shares of Figure Technology Solutions in a research report on Monday, October 6th. They issued an “outperform” rating and a $48.50 price target on the stock. Wall Street Zen upgraded shares of Figure Technology Solutions to a “hold” rating in a research report on Monday, September 22nd. Bank of America started coverage on shares of Figure Technology Solutions in a research note on Monday, October 6th. They set a “neutral” rating and a $41.00 target price for the company. Finally, Jefferies Financial Group initiated coverage on shares of Figure Technology Solutions in a research report on Monday, October 6th. They set a “hold” rating and a $40.00 price target on the stock.

Figure Technology Solutions Trading Down 7.8%

Shares of FIGR opened at $35.69 on Friday. Figure Technology Solutions has a 12 month low of $30.01 and a 12 month high of $49.50.

Insider Activity

In related news, CEO Michael Benjamin Tannenbaum sold 297,171 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $25.00, for a total transaction of $7,429,275.00. Following the completion of the sale, the chief executive officer owned 4,092,576 shares of the company’s stock, valued at $102,314,400. This trade represents a 6.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Adam Gilbert Boyden sold 468,860 shares of Figure Technology Solutions stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $25.00, for a total value of $11,721,500.00. Following the completion of the sale, the director owned 6,651,158 shares of the company’s stock, valued at approximately $166,278,950. The trade was a 6.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. acquired a new stake in Figure Technology Solutions in the third quarter worth $64,000. SBI Securities Co. Ltd. acquired a new stake in shares of Figure Technology Solutions in the 3rd quarter valued at about $66,000. Ameritas Advisory Services LLC acquired a new stake in shares of Figure Technology Solutions in the 3rd quarter valued at about $200,000. Hennessy Advisors Inc. acquired a new position in Figure Technology Solutions during the 3rd quarter worth approximately $255,000. Finally, Voya Investment Management LLC acquired a new position in Figure Technology Solutions during the 3rd quarter worth approximately $721,000.

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.