Figure Technology Solutions, Inc. (NASDAQ:FIGR) Receives Consensus Rating of “Moderate Buy” from Brokerages

Figure Technology Solutions, Inc. (NASDAQ:FIGR) has received an average rating of “Moderate Buy” from the eleven research firms that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $53.6250.

Several equities research analysts recently commented on FIGR shares. Sanford C. Bernstein decreased their target price on Figure Technology Solutions from $72.00 to $67.00 and set an “outperform” rating for the company in a research note on Monday, March 30th. The Goldman Sachs Group decreased their target price on Figure Technology Solutions from $49.00 to $44.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. Zacks Research raised Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 14th. Bank of America decreased their target price on Figure Technology Solutions from $34.00 to $31.00 in a research note on Thursday, April 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 target price on shares of Figure Technology Solutions in a research note on Wednesday, May 13th.

Figure Technology Solutions Trading Down 10.9%

Shares of FIGR stock opened at $38.58 on Tuesday. The stock has a market cap of $7.01 billion and a price-to-earnings ratio of 96.45. The stock has a 50-day moving average of $35.11 and a 200-day moving average of $40.32. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 0.19. Figure Technology Solutions has a 1-year low of $25.01 and a 1-year high of $78.00.

Figure Technology Solutions (NASDAQ:FIGR) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.01. The company had revenue of $166.84 million during the quarter. On average, equities research analysts forecast that Figure Technology Solutions will post 0.94 earnings per share for the current year.

Figure Technology Solutions announced that its Board of Directors has approved a stock buyback plan on Thursday, February 26th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Michael Scott Cagney sold 35,190 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $38.20, for a total value of $1,344,258.00. Following the completion of the sale, the director directly owned 35,190 shares in the company, valued at $1,344,258. This trade represents a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director June Ou sold 35,190 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $38.20, for a total value of $1,344,258.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 737,796 shares of company stock worth $25,494,406 over the last 90 days. 26.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FIGR. Global Retirement Partners LLC bought a new position in Figure Technology Solutions in the fourth quarter worth approximately $25,000. WPG Advisers LLC boosted its holdings in Figure Technology Solutions by 71.1% in the first quarter. WPG Advisers LLC now owns 934 shares of the company’s stock worth $32,000 after acquiring an additional 388 shares in the last quarter. Strs Ohio bought a new position in Figure Technology Solutions in the fourth quarter worth approximately $34,000. MetLife Investment Management LLC bought a new position in Figure Technology Solutions in the fourth quarter worth approximately $35,000. Finally, Flagship Harbor Advisors LLC bought a new position in Figure Technology Solutions in the fourth quarter worth approximately $40,000.

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.