Figure Technology Solutions (NASDAQ:FIGR) Trading Down 14.1% – Should You Sell?

Figure Technology Solutions, Inc. (NASDAQ:FIGR)’s share price traded down 14.1% on Thursday . The stock traded as low as $58.00 and last traded at $58.32. 2,769,069 shares were traded during mid-day trading, a decline of 40% from the average session volume of 4,629,880 shares. The stock had previously closed at $67.92.

Analysts Set New Price Targets

Several research firms recently commented on FIGR. The Goldman Sachs Group boosted their target price on Figure Technology Solutions from $51.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, January 13th. Weiss Ratings reissued a “hold (c-)” rating on shares of Figure Technology Solutions in a report on Monday, December 29th. Zacks Research raised shares of Figure Technology Solutions from a “hold” rating to a “strong-buy” rating in a report on Friday, January 2nd. Mizuho increased their target price on Figure Technology Solutions from $47.00 to $56.00 and gave the company an “outperform” rating in a research note on Monday, November 17th. Finally, Keefe, Bruyette & Woods lifted their price target on Figure Technology Solutions from $52.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $57.63.

Figure Technology Solutions Price Performance

The firm has a market capitalization of $10.67 billion and a P/E ratio of 178.15. The company has a quick ratio of 2.26, a current ratio of 2.26 and a debt-to-equity ratio of 0.17. The firm has a 50 day moving average price of $47.70.

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 the consensus estimate of $0.16 by $0.18. The business had revenue of $156.03 million during the quarter.

Insider Activity at Figure Technology Solutions

In other Figure Technology Solutions news, Director June Ou sold 500,000 shares of the company’s stock in a transaction on 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 transaction, the director directly owned 6,378,993 shares in the company, valued at approximately $231,047,126.46. This represents a 7.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Minchung Kgil sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $35.09, for a total transaction of $3,509,000.00. Following the completion of the sale, the chief financial officer owned 617,149 shares of the company’s stock, valued at $21,655,758.41. This trade represents a 13.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,344,073 shares of company stock valued at $123,816,526 in the last 90 days.

Institutional Trading of Figure Technology Solutions

A number of hedge funds and other institutional investors have recently modified their holdings of FIGR. Flagship Harbor Advisors LLC purchased a new position in shares of Figure Technology Solutions during the fourth quarter valued at approximately $40,000. Blue Trust Inc. purchased a new stake in Figure Technology Solutions during the third quarter valued at $64,000. SBI Securities Co. Ltd. purchased a new position in Figure Technology Solutions in the third quarter worth about $66,000. PNC Financial Services Group Inc. purchased a new stake in shares of Figure Technology Solutions during the 3rd quarter valued at about $73,000. Finally, NBC Securities Inc. purchased a new position in shares of Figure Technology Solutions in the fourth quarter worth approximately $92,000.

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.