Figure Technology Solutions (NASDAQ:FIGR) Trading Up 8.8% – Should You Buy?

Figure Technology Solutions, Inc. (NASDAQ:FIGR) rose 8.8% during mid-day trading on Tuesday . The stock traded as high as $38.46 and last traded at $38.41. Approximately 3,623,048 shares traded hands during trading, a decline of 20% from the average daily volume of 4,530,669 shares. The stock had previously closed at $35.29.

Wall Street Analysts Forecast Growth

FIGR has been the topic of several recent research reports. Sanford C. Bernstein boosted their target price on Figure Technology Solutions from $54.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, January 13th. The Goldman Sachs Group lifted their price objective 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. Mizuho upped their target price 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 lifted their price target on Figure Technology Solutions from $55.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. Finally, Needham & Company LLC reissued a “buy” rating and set a $71.00 price target on shares of Figure Technology Solutions in a research report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $59.50.

Figure Technology Solutions Stock Down 7.2%

The business’s 50-day simple moving average is $49.09. The firm has a market cap of $5.80 billion and a P/E ratio of 96.85. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 0.17.

Insider Buying and Selling

In other Figure Technology Solutions news, CFO Minchung Kgil sold 100,000 shares of the stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $35.09, for a total transaction 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 trade represents a 13.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael Benjamin Tannenbaum sold 100,000 shares of Figure Technology Solutions stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $35.82, for a total transaction of $3,582,000.00. Following the sale, the chief executive officer owned 3,821,366 shares of the company’s stock, valued at approximately $136,881,330.12. This represents a 2.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,352,573 shares of company stock valued at $48,731,291 over the last three months.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Federated Hermes Inc. acquired a new position in Figure Technology Solutions during the 3rd quarter worth $8,183,000. Lisanti Capital Growth LLC purchased a new position in shares of Figure Technology Solutions in the 3rd quarter valued at about $3,780,000. Emerald Mutual Fund Advisers Trust acquired a new position in shares of Figure Technology Solutions during the third quarter worth about $1,013,000. Mutual Advisors LLC purchased a new stake in shares of Figure Technology Solutions during the third quarter worth approximately $1,446,000. Finally, CWA Asset Management Group LLC acquired a new stake in Figure Technology Solutions in the third quarter valued at approximately $1,412,000.

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.