Figure Technology Solutions (NASDAQ:FIGR) Trading 8.5% Higher – What’s Next?

Figure Technology Solutions, Inc. (NASDAQ:FIGR)’s share price shot up 8.5% during mid-day trading on Thursday . The stock traded as high as $35.65 and last traded at $36.0050. Approximately 926,122 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 4,574,385 shares. The stock had previously closed at $33.19.

Analyst Upgrades and Downgrades

A number of research analysts have commented on FIGR shares. Weiss Ratings upgraded shares of Figure Technology Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 21st. Piper Sandler lowered their price objective on shares of 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 reissued a “buy” rating and issued a $55.00 target price on shares of Figure Technology Solutions in a research note on Thursday, August 20th. Sanford C. Bernstein increased their price objective on shares of Figure Technology Solutions from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Finally, Mizuho increased their target price on Figure Technology Solutions from $45.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, May 14th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $50.62.

Figure Technology Solutions Trading Up 7.3%

The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $6.61 billion and a P/E ratio of 38.36. The business has a 50 day moving average of $31.46 and a 200-day moving average of $32.72.

Figure Technology Solutions (NASDAQ:FIGR) last released its quarterly earnings results on Thursday, August 13th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.11. The company had revenue of $218.45 million during the quarter. Figure Technology Solutions had a net margin of 33.45% and a return on equity of 18.90%. Analysts anticipate that Figure Technology Solutions, Inc. will post 1.18 EPS for the current fiscal year.

Insider Activity at Figure Technology Solutions

In other Figure Technology Solutions news, insider David Todd Stevens sold 47,650 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $31.38, for a total transaction of $1,495,257.00. Following the completion of the transaction, the insider owned 376,599 shares of the company’s stock, valued at $11,817,676.62. This represents a 11.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Minchung Kgil sold 8,000 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $38.69, for a total transaction of $309,520.00. Following the transaction, the chief financial officer owned 483,651 shares of the company’s stock, valued at $18,712,457.19. The trade was a 1.63% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 80,767 shares of company stock worth $2,542,154 in the last 90 days. Company insiders own 26.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Global Retirement Partners LLC bought a new position in Figure Technology Solutions during the fourth quarter worth about $25,000. WPG Advisers LLC raised its stake in Figure Technology Solutions by 71.1% in the 1st quarter. WPG Advisers LLC now owns 934 shares of the company’s stock worth $32,000 after purchasing an additional 388 shares in the last quarter. Strs Ohio acquired a new stake in shares of Figure Technology Solutions in the fourth quarter valued at approximately $34,000. MetLife Investment Management LLC bought a new position in shares of Figure Technology Solutions in the fourth quarter worth $35,000. Finally, Johnson Financial Group Inc. bought a new position in Figure Technology Solutions in the 4th quarter valued at about $41,000.

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.