Figure Technology Solutions (NASDAQ:FIGR) Price Target Raised to $70.00 at Sanford C. Bernstein

Figure Technology Solutions (NASDAQ:FIGR) had its price objective boosted by investment analysts at Sanford C. Bernstein from $67.00 to $70.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Sanford C. Bernstein’s price target indicates a potential upside of 145.57% from the stock’s previous close.

Several other research analysts have also weighed in on the company. Wall Street Zen lowered Figure Technology Solutions from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Keefe, Bruyette & Woods dropped their target price on shares of Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th. Weiss Ratings raised shares of Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 4th. Zacks Research upgraded shares of Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 14th. Finally, Piper Sandler dropped their price objective on Figure Technology Solutions from $75.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.62.

Figure Technology Solutions Price Performance

Shares of Figure Technology Solutions stock traded down $0.23 during trading on Thursday, hitting $28.50. The stock had a trading volume of 1,021,045 shares, compared to its average volume of 4,567,773. The business has a fifty day moving average of $29.63 and a two-hundred day moving average of $35.62. The firm has a market cap of $5.21 billion and a P/E ratio of 49.12. Figure Technology Solutions has a fifty-two week low of $24.11 and a fifty-two week high of $78.00. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.90 and a quick ratio of 1.90.

Figure Technology Solutions (NASDAQ:FIGR) last released its earnings results on Monday, May 11th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.17 by $0.01. The business had revenue of $166.84 million for the quarter. On average, sell-side analysts expect that Figure Technology Solutions will post 0.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Figure Technology Solutions

In other news, Director Michael Scott Cagney sold 35,190 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were 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 directly owned 35,190 shares of the company’s stock, valued at $1,344,258. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Todd Stevens sold 47,064 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $42.35, for a total transaction of $1,993,160.40. Following the completion of the transaction, the insider directly owned 406,051 shares of the company’s stock, valued at approximately $17,196,259.85. This trade represents a 10.39% decrease in their position. 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. Insiders sold 155,463 shares of company stock valued at $5,926,353 in the last 90 days. 26.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FIGR. WPG Advisers LLC boosted its stake in shares of Figure Technology Solutions by 71.1% in the 1st quarter. WPG Advisers LLC now owns 934 shares of the company’s stock valued at $32,000 after purchasing an additional 388 shares during the last quarter. State of Wyoming raised its holdings in shares of Figure Technology Solutions by 14.8% during the first quarter. State of Wyoming now owns 3,864 shares of the company’s stock valued at $131,000 after purchasing an additional 498 shares during the period. Arcus Capital Partners LLC boosted its position in shares of Figure Technology Solutions by 7.9% during the 1st quarter. Arcus Capital Partners LLC now owns 7,400 shares of the company’s stock worth $251,000 after purchasing an additional 541 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in shares of Figure Technology Solutions in the 4th quarter valued at about $25,000. Finally, Wells Fargo & Company MN increased its position in Figure Technology Solutions by 3.5% in the 4th quarter. Wells Fargo & Company MN now owns 18,429 shares of the company’s stock valued at $753,000 after buying an additional 616 shares in the last quarter.

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.