Figure Technology Solutions (NASDAQ:FIGR) Receives “Buy” Rating from Needham & Company LLC

Figure Technology Solutions (NASDAQ:FIGR)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $71.00 price target on the stock. Needham & Company LLC’s price target suggests a potential upside of 65.31% from the company’s previous close.

FIGR has been the topic of several other reports. Sanford C. Bernstein boosted their price target on shares of Figure Technology Solutions from $54.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 13th. Zacks Research raised Figure Technology Solutions from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 2nd. Piper Sandler boosted their price target on Figure Technology Solutions from $55.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. Texas Capital raised Figure Technology Solutions to a “strong-buy” rating in a report on Thursday, January 29th. Finally, Mizuho boosted their target price on shares of Figure Technology Solutions from $47.00 to $56.00 and gave the stock an “outperform” rating in a report on Monday, November 17th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Figure Technology Solutions currently has an average rating of “Moderate Buy” and a consensus target price of $59.50.

Figure Technology Solutions Stock Performance

NASDAQ FIGR opened at $42.95 on Thursday. Figure Technology Solutions has a 52 week low of $30.01 and a 52 week high of $78.00. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.26 and a quick ratio of 2.26. The company has a 50 day moving average price of $49.34. The company has a market cap of $7.56 billion and a PE ratio of 126.32.

Figure Technology Solutions (NASDAQ:FIGR) last posted its quarterly earnings data on Thursday, November 13th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.18. The business had revenue of $156.03 million during the quarter.

Insider Activity at Figure Technology Solutions

In other Figure Technology Solutions news, Director Michael Scott Cagney sold 500,000 shares of the stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $36.22, for a total value of $18,110,000.00. Following the transaction, the director directly owned 6,378,993 shares of the company’s stock, valued at $231,047,126.46. This represents a 7.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Benjamin Tannenbaum sold 908,000 shares of the stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $39.19, for a total value of $35,584,520.00. Following the transaction, the chief executive officer owned 3,921,366 shares in the company, valued at approximately $153,678,333.54. This trade represents a 18.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,344,073 shares of company stock valued at $123,816,526 over the last three months.

Institutional Investors Weigh In On Figure Technology Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Orland Properties Ltd bought a new position in Figure Technology Solutions during the 3rd quarter worth $319,187,000. Vanguard Group Inc. lifted its position in shares of Figure Technology Solutions by 17.9% during the 4th quarter. Vanguard Group Inc. now owns 2,974,853 shares of the company’s stock valued at $121,493,000 after acquiring an additional 452,136 shares during the period. Duquesne Family Office LLC acquired a new stake in shares of Figure Technology Solutions during the 3rd quarter worth $76,989,000. Pantera Capital Partners LP bought a new position in shares of Figure Technology Solutions in the third quarter worth $56,114,000. Finally, Capital World Investors bought a new position in shares of Figure Technology Solutions in the third quarter worth $50,918,000.

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.