Figure Technology Solutions, Inc. (NASDAQ:FIGR) Receives $52.88 Consensus Target Price from Brokerages

Shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) have earned a consensus recommendation of “Moderate Buy” from the eleven research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $52.8750.

FIGR has been the subject of a number of recent research reports. Needham & Company LLC reissued a “buy” rating and set a $55.00 price objective on shares of Figure Technology Solutions in a report on Thursday, August 20th. Weiss Ratings cut Figure Technology Solutions from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, September 11th. Keefe, Bruyette & Woods decreased their price target on Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating for the company in a report on Monday, July 13th. Bank of America raised Figure Technology Solutions from an “underperform” rating to a “neutral” rating and increased their price target for the company from $31.00 to $49.00 in a research report on Wednesday, September 9th. Finally, Wall Street Zen upgraded Figure Technology Solutions from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th.

Figure Technology Solutions Stock Performance

FIGR opened at $34.66 on Monday. The company has a market cap of $6.44 billion and a price-to-earnings ratio of 37.27. The company’s fifty day moving average price is $32.88 and its two-hundred day moving average price is $33.11. Figure Technology Solutions has a 1-year low of $24.11 and a 1-year high of $78.00. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.22.

Figure Technology Solutions (NASDAQ:FIGR) last posted its earnings results on Thursday, August 13th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.24 by $0.11. Figure Technology Solutions had a net margin of 33.45% and a return on equity of 18.90%. The company had revenue of $218.45 million during the quarter. On average, analysts expect that Figure Technology Solutions will post 1.2 EPS for the current fiscal year.

Insider Activity

In related news, insider David Stevens sold 47,650 shares of the firm’s stock in a transaction dated 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 $11,817,676.62. This trade represents a 11.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 business’s stock in a transaction dated 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 in the company, valued at approximately $18,712,457.19. This trade represents a 1.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 67,650 shares of company stock valued at $2,157,537. 26.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Figure Technology Solutions

A number of institutional investors and hedge funds have recently modified their holdings of the business. Fred Alger Management LLC purchased a new position in shares of Figure Technology Solutions in the 4th quarter worth about $67,386,000. Capital World Investors raised its position in Figure Technology Solutions by 4.2% in the fourth quarter. Capital World Investors now owns 1,458,424 shares of the company’s stock worth $59,562,000 after acquiring an additional 58,424 shares during the period. Norges Bank purchased a new position in Figure Technology Solutions in the fourth quarter valued at about $32,672,000. Granahan Investment Management LLC grew its position in shares of Figure Technology Solutions by 40.6% during the 1st quarter. Granahan Investment Management LLC now owns 935,400 shares of the company’s stock valued at $31,757,000 after acquiring an additional 269,882 shares during the period. Finally, Maplelane Capital LLC bought a new position in shares of Figure Technology Solutions during the 1st quarter valued at approximately $23,120,000.

Figure Technology Solutions Company Profile

Figure Technology Solutions, Inc is a financial technology company that develops and operates digital platforms for lending and other financial services. Its technology is designed to streamline the origination, underwriting, servicing and funding of loans through automated processes and data-driven tools.

The company’s offerings have included home equity financing, personal loans and related lending products, delivered directly to consumers and through institutional or other financial-services partners.