Figure Technology Solutions (NASDAQ:FIGR) Price Target Lowered to $45.00 at Keefe, Bruyette & Woods

Figure Technology Solutions (NASDAQ:FIGR) had its target price lowered by equities research analysts at Keefe, Bruyette & Woods from $55.00 to $45.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 44.05% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Weiss Ratings upgraded Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 4th. Mizuho raised their target price on Figure Technology Solutions from $45.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Wall Street Zen lowered Figure Technology Solutions from a “hold” rating to a “sell” rating in a research report on Sunday. Zacks Research raised shares of Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 14th. Finally, Bank of America reduced their target price on shares of Figure Technology Solutions from $34.00 to $31.00 in a research report on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.50.

Figure Technology Solutions Price Performance

FIGR opened at $31.24 on Monday. Figure Technology Solutions has a 52-week low of $25.01 and a 52-week high of $78.00. The company has a 50 day moving average of $32.82 and a two-hundred day moving average of $38.32. The company has a market cap of $5.71 billion and a P/E ratio of 53.97. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.20.

Figure Technology Solutions (NASDAQ:FIGR) last issued its earnings results on Monday, May 11th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $166.84 million during the quarter. On average, analysts expect that Figure Technology Solutions will post 0.89 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Michael Scott Cagney sold 35,190 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $38.20, for a total transaction of $1,344,258.00. Following the completion of the transaction, the director owned 35,190 shares in the company, valued at $1,344,258. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Minchung Kgil sold 4,000 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $30.03, for a total value of $120,120.00. Following the completion of the sale, the chief financial officer directly owned 499,651 shares in the company, valued at $15,004,519.53. This represents a 0.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 479,337 shares of company stock worth $16,910,863. 26.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Duquesne Family Office LLC acquired a new stake in shares of Figure Technology Solutions in the third quarter valued at approximately $76,989,000. Fred Alger Management LLC acquired a new position in shares of Figure Technology Solutions during the fourth quarter worth approximately $67,386,000. Pantera Capital Partners LP acquired a new position in shares of Figure Technology Solutions during the third quarter worth approximately $56,114,000. Balyasny Asset Management L.P. bought a new position in Figure Technology Solutions in the 3rd quarter worth approximately $36,087,000. Finally, Alliancebernstein L.P. acquired a new stake in Figure Technology Solutions in the 3rd quarter valued at approximately $34,626,000.

About Figure Technology Solutions

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.