Piper Sandler Raises Figure Technology Solutions (NASDAQ:FIGR) Price Target to $55.00

Figure Technology Solutions (NASDAQ:FIGR) had its price target raised by Piper Sandler from $50.00 to $55.00 in a report released on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price target points to a potential upside of 25.11% from the stock’s previous close.

Several other analysts have also recently commented on FIGR. Zacks Research upgraded shares of Figure Technology Solutions to a “hold” rating in a report on Tuesday, October 7th. Bank of America boosted their price target on shares of Figure Technology Solutions from $41.00 to $47.00 and gave the company a “neutral” rating in a report on Monday. Needham & Company LLC reiterated a “buy” rating and set a $51.00 price objective on shares of Figure Technology Solutions in a report on Monday. Sanford C. Bernstein initiated coverage on Figure Technology Solutions in a research report on Monday, October 6th. They issued an “outperform” rating and a $54.00 target price on the stock. Finally, Keefe, Bruyette & Woods started coverage on Figure Technology Solutions in a report on Monday, October 6th. They set an “outperform” rating and a $48.50 price target for the company. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Figure Technology Solutions presently has a consensus rating of “Moderate Buy” and an average target price of $49.94.

Figure Technology Solutions Price Performance

Shares of Figure Technology Solutions stock traded up $3.72 during trading on Monday, hitting $43.96. The stock had a trading volume of 3,044,798 shares, compared to its average volume of 3,322,513. Figure Technology Solutions has a 1 year low of $30.01 and a 1 year high of $49.50.

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

Insiders Place Their Bets

In other news, CEO Michael Benjamin Tannenbaum sold 297,171 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $25.00, for a total transaction of $7,429,275.00. Following the completion of the transaction, the chief executive officer owned 4,092,576 shares of the company’s stock, valued at approximately $102,314,400. This represents a 6.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Adam Gilbert Boyden sold 468,860 shares of the company’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 $11,721,500.00. Following the transaction, the director owned 6,651,158 shares in the company, valued at $166,278,950. The trade was a 6.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Orland Properties Ltd acquired a new stake in shares of Figure Technology Solutions during the 3rd quarter worth approximately $319,187,000. Vanguard Group Inc. bought a new position in Figure Technology Solutions in the third quarter valued at approximately $91,751,000. Duquesne Family Office LLC bought a new stake in shares of Figure Technology Solutions during the 3rd quarter valued at $76,989,000. Capital World Investors acquired a new position in shares of Figure Technology Solutions in the 3rd quarter valued at $50,918,000. Finally, Balyasny Asset Management L.P. bought a new position in shares of Figure Technology Solutions in the 3rd quarter worth $36,087,000.

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.