Figure Technology Solutions, Inc. (NASDAQ:FIGR) Stock Has Consensus Target Price of $53.57 According to Analysts

Figure Technology Solutions, Inc. (NASDAQ:FIGR) has earned an average rating of “Buy” from the twelve analysts that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and four have given a strong buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $53.57.

A number of research analysts recently issued reports on the company. Freedom Capital upgraded Figure Technology Solutions to a “strong-buy” rating in a research note on Thursday, October 15th. The Goldman Sachs Group set a $41.00 price objective on Figure Technology Solutions in a research note on Wednesday, October 7th. Piper Sandler reduced their price objective on Figure Technology Solutions from $75.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. Needham & Company LLC reissued a “buy” rating on shares of Figure Technology Solutions in a report on Wednesday, October 7th. Finally, Weiss Ratings lowered shares of Figure Technology Solutions from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, September 11th.

Insider Buying and Selling at Figure Technology Solutions

In other Figure Technology Solutions news, insider David Stevens sold 47,650 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $31.38, for a total transaction of $1,495,257.00. Following the transaction, the insider directly owned 376,599 shares of the company’s stock, valued at approximately $11,817,676.62. This trade represents a 11.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Minchung Kgil sold 8,000 shares of Figure Technology Solutions stock in a transaction on Monday, August 24th. The shares were sold at an average price of $38.69, for a total transaction of $309,520.00. Following the completion of the transaction, the chief financial officer owned 483,651 shares in the company, valued at approximately $18,712,457.19. This represents a 1.63% decrease in their ownership of the stock. 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. In the last quarter, insiders sold 59,650 shares of company stock valued at $1,924,897. 26.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Figure Technology Solutions

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Inspire Investing LLC purchased a new position in shares of Figure Technology Solutions in the 3rd quarter valued at approximately $428,000. Investment House LLC increased its holdings in shares of Figure Technology Solutions by 45.0% in the third quarter. Investment House LLC now owns 285,955 shares of the company’s stock valued at $8,250,000 after purchasing an additional 88,700 shares during the period. SBI Securities Co. Ltd. increased its holdings in shares of Figure Technology Solutions by 157.4% in the third quarter. SBI Securities Co. Ltd. now owns 1,974 shares of the company’s stock valued at $57,000 after purchasing an additional 1,207 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in shares of Figure Technology Solutions by 92.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 192,421 shares of the company’s stock worth $5,551,000 after purchasing an additional 92,421 shares during the last quarter. Finally, Sax Wealth Advisors LLC purchased a new stake in shares of Figure Technology Solutions during the third quarter worth approximately $589,000.

Figure Technology Solutions Stock Performance

Shares of FIGR stock opened at $24.04 on Friday. The stock’s 50-day moving average is $32.56 and its two-hundred day moving average is $32.22. The firm has a market cap of $4.46 billion and a price-to-earnings ratio of 25.85. Figure Technology Solutions has a 1 year low of $23.87 and a 1 year high of $78.00. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.86 and a current ratio of 1.86.

Figure Technology Solutions (NASDAQ:FIGR) last posted its earnings results on Thursday, August 13th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.11. Figure Technology Solutions had a return on equity of 18.90% and a net margin of 33.45%. The business had revenue of $218.45 million for the quarter. Analysts predict that Figure Technology Solutions will post 1.18 earnings per share for the current year.

Figure Technology Solutions Company Profile

Figure Technology Solutions, Inc is a financial technology company that develops technology-enabled lending and financial services products. The company uses artificial intelligence, blockchain and data-driven underwriting tools to streamline the origination, servicing and management of loans and other financial transactions.

Figure’s platform has supported products including home equity lines of credit, mortgage-related lending and personal loans. Its technology is designed to automate traditionally paper-intensive processes, improve transaction speed and provide digital tools for borrowers, lenders and other financial institutions.

Founded in 2018, Figure is headquartered in the United States and primarily serves the U.S.