Figure Technology Solutions (NASDAQ:FIGR) Stock Rating Upgraded by Zacks Research

Figure Technology Solutions (NASDAQ:FIGR) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other analysts also recently weighed in on the company. Piper Sandler cut their target price on Figure Technology Solutions from $75.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, July 15th. Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 price target on shares of Figure Technology Solutions in a research note on Friday, August 14th. Weiss Ratings raised shares of Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 4th. Sanford C. Bernstein increased their price objective on shares of Figure Technology Solutions from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Finally, Mizuho upped their price target on shares of Figure Technology Solutions from $45.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.62.

Figure Technology Solutions Stock Down 0.7%

Shares of FIGR opened at $35.52 on Monday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.20. Figure Technology Solutions has a 12 month low of $24.11 and a 12 month high of $78.00. The firm’s 50 day moving average is $29.56 and its 200-day moving average is $33.29. The stock has a market capitalization of $6.49 billion and a PE ratio of 38.19.

Figure Technology Solutions (NASDAQ:FIGR) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.11. Figure Technology Solutions had a return on equity of 19.58% and a net margin of 33.45%.The business had revenue of $218.45 million during the quarter. Equities research analysts forecast that Figure Technology Solutions will post 1.18 EPS for the current year.

Insider Activity at Figure Technology Solutions

In other Figure Technology Solutions news, CFO Minchung Kgil sold 4,000 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $30.03, for a total transaction of $120,120.00. Following the sale, the chief financial officer owned 491,651 shares of the company’s stock, valued at approximately $14,764,279.53. The trade was a 0.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Todd Stevens sold 47,650 shares of the business’s stock in a transaction 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 sale, the insider owned 376,599 shares in the company, valued at $11,817,676.62. This represents a 11.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 72,767 shares of company stock worth $2,232,634 over the last ninety days. 26.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Figure Technology Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. WPG Advisers LLC grew its holdings in Figure Technology Solutions by 71.1% in the first quarter. WPG Advisers LLC now owns 934 shares of the company’s stock worth $32,000 after purchasing an additional 388 shares during the period. State of Wyoming raised its holdings in shares of Figure Technology Solutions by 14.8% during the first quarter. State of Wyoming now owns 3,864 shares of the company’s stock valued at $131,000 after purchasing an additional 498 shares during the period. Arcus Capital Partners LLC raised its holdings in shares of Figure Technology Solutions by 7.9% during the first quarter. Arcus Capital Partners LLC now owns 7,400 shares of the company’s stock valued at $251,000 after purchasing an additional 541 shares during the period. Global Retirement Partners LLC bought a new position in shares of Figure Technology Solutions during the 4th quarter worth about $25,000. Finally, Wells Fargo & Company MN grew its stake in shares of Figure Technology Solutions by 3.5% in the 4th quarter. Wells Fargo & Company MN now owns 18,429 shares of the company’s stock valued at $753,000 after buying an additional 616 shares during the period.

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.