Figure Technology Solutions (NASDAQ:FIGR) Cut to Underperform at Bank of America

Bank of America downgraded shares of Figure Technology Solutions (NASDAQ:FIGR) from a neutral rating to an underperform rating in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage currently has $42.00 price target on the stock.

Other equities research analysts also recently issued research reports about the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Figure Technology Solutions in a research report on Monday, December 29th. Jefferies Financial Group initiated coverage on Figure Technology Solutions in a research report on Monday, October 6th. They set a “hold” rating and a $40.00 target price on the stock. Mizuho boosted their price target on Figure Technology Solutions from $47.00 to $56.00 and gave the company an “outperform” rating in a report on Monday, November 17th. Piper Sandler upped their price target on Figure Technology Solutions from $55.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. Finally, Sanford C. Bernstein lifted their price objective on Figure Technology Solutions from $54.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday, January 13th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Figure Technology Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $59.50.

Figure Technology Solutions Stock Down 7.0%

NASDAQ FIGR opened at $39.94 on Tuesday. Figure Technology Solutions has a 52 week low of $30.01 and a 52 week high of $78.00. The stock has a market cap of $7.03 billion and a price-to-earnings ratio of 117.47. 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 company’s 50-day simple moving average is $49.43.

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

Insiders Place Their Bets

In other news, CFO Minchung Kgil sold 100,000 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $35.09, for a total value of $3,509,000.00. Following the completion of the transaction, the chief financial officer owned 617,149 shares of the company’s stock, valued at $21,655,758.41. This represents a 13.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Michael Scott Cagney sold 500,000 shares of Figure Technology Solutions stock in a transaction that occurred 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 sale, the director directly owned 6,378,993 shares in the company, valued at $231,047,126.46. This trade represents a 7.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,344,073 shares of company stock valued at $123,816,526 over the last three months.

Hedge Funds Weigh In On Figure Technology Solutions

Several hedge funds have recently modified their holdings of FIGR. Orland Properties Ltd purchased a new position in Figure Technology Solutions during the third quarter valued at $319,187,000. Vanguard Group Inc. purchased a new stake in Figure Technology Solutions in the 3rd quarter worth $91,751,000. Duquesne Family Office LLC bought a new position in shares of Figure Technology Solutions during the 3rd quarter valued at about $76,989,000. Pantera Capital Partners LP bought a new stake in shares of Figure Technology Solutions in the third quarter worth about $56,114,000. Finally, Capital World Investors purchased a new stake in shares of Figure Technology Solutions in the third quarter worth about $50,918,000.

Key Stories Impacting Figure Technology Solutions

Here are the key news stories impacting Figure Technology Solutions this week:

• Positive Sentiment: Needham & Company reaffirmed a “Buy” on FIGR and set a $71 price target (implying material upside), supporting bullish analyst interest. Needham Reaffirms Buy, $71 PT
• Positive Sentiment: January operating data showed big year-over-year growth (consumer loan marketplace volume $816M, +115% YoY) and strong traction on Democratized Prime (matched offers +23% MoM; borrower demand +17% MoM), reinforcing the company’s growth narrative in tokenized lending. The release also highlights $YLDS circulation growth and Figure’s AAA-rated securitization milestones. Figure Reports January Operating Data
• Positive Sentiment: Figure announced a partnership with Valon Technologies to apply AI and blockchain enhancements to loan origination, which could expand distribution/use of Figure’s LOS and tokenization stack if adoption follows. Valon Technologies, Figure Partner to Enhance Loan Origination
• Neutral Sentiment: Other media pieces and analyst notes (including price-target increases from some outlets) reinforce the bull case and long-term story, but they are commentary rather than new fundamentals. FIGR Price Target Increased to $65.96 (MSN)
• Negative Sentiment: Bank of America lowered its rating on FIGR to “Underperform” — a high-profile downgrade that likely put immediate downward pressure on the stock despite other positive notes. FIGR Rating Lowered to Underperform at Bank of America
• Negative Sentiment: Public filings and data aggregators highlight substantial insider selling activity over recent months (numerous large sales by executives), which can amplify negative sentiment and reduce investor confidence. QuiverQuant: FIGR Operating Data and Insider Activity

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.