Figure Technology Solutions, Inc. (NASDAQ:FIGR) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Analysts collectively rate Figure Technology Solutions “Moderate Buy.” Of 11 analysts, six recommend buying, two strongly recommend buying, two rate it a hold and one recommends selling; the average 12-month price target is $52.88.
• Recent analyst actions were mixed, with Bank of America upgrading the stock to neutral while Piper Sandler and Keefe, Bruyette & Woods cut their price targets. Weiss Ratings downgraded the shares to sell, highlighting differing views on the company.
• Figure reported quarterly earnings of $0.35 per share, beating estimates of $0.24, on revenue of $218.45 million. The stock opened at $35.49, while insiders sold 71,650 shares worth approximately $2.27 million over the past 90 days.

Figure Technology Solutions, Inc. (NASDAQ:FIGR - Get Free Report) has earned a consensus rating of "Moderate Buy" from the eleven analysts that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $52.8750.

A number of equities analysts have recently commented on the company. Bank of America upgraded Figure Technology Solutions from an "underperform" rating to a "neutral" rating and raised their price objective for the stock from $31.00 to $49.00 in a report on Wednesday, September 9th. Piper Sandler dropped their target price on shares of Figure Technology Solutions from $75.00 to $65.00 and set an "overweight" rating for the company in a research report on Wednesday, July 15th. Weiss Ratings lowered shares of Figure Technology Solutions from a "hold (c)" rating to a "sell (d+)" rating in a report on Friday, September 11th. Keefe, Bruyette & Woods reduced their price target 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. Finally, Wall Street Zen raised shares of Figure Technology Solutions from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th.

Insider Activity

In other news, CFO Minchung Kgil sold 8,000 shares of the stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $38.69, for a total value of $309,520.00. Following the completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $1,495,257.00. Following the sale, the insider owned 376,599 shares in the company, valued at approximately $11,817,676.62. The trade was a 11.23% 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. Insiders sold 71,650 shares of company stock valued at $2,268,097 in the last ninety days. Company insiders own 26.60% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. WPG Advisers LLC grew its stake in shares of Figure Technology Solutions by 71.1% during the first quarter. WPG Advisers LLC now owns 934 shares of the company's stock valued at $32,000 after acquiring an additional 388 shares in the last quarter. State of Wyoming lifted its stake in shares of Figure Technology Solutions by 14.8% in the first quarter. State of Wyoming now owns 3,864 shares of the company's stock worth $131,000 after acquiring an additional 498 shares in the last quarter. Arcus Capital Partners LLC boosted its holdings in Figure Technology Solutions by 7.9% in the first quarter. Arcus Capital Partners LLC now owns 7,400 shares of the company's stock valued at $251,000 after purchasing an additional 541 shares during the last quarter. HB Wealth Management LLC boosted its holdings in Figure Technology Solutions by 4.5% in the second quarter. HB Wealth Management LLC now owns 18,389 shares of the company's stock valued at $565,000 after purchasing an additional 788 shares during the last quarter. Finally, Concurrent Investment Advisors LLC grew its stake in Figure Technology Solutions by 16.0% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 6,988 shares of the company's stock valued at $215,000 after purchasing an additional 966 shares in the last quarter.

Figure Technology Solutions Stock Performance

FIGR stock opened at $35.49 on Monday. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.22. The company has a market cap of $6.59 billion and a price-to-earnings ratio of 38.16. The business has a fifty day simple moving average of $32.55 and a 200-day simple moving average of $32.99. Figure Technology Solutions has a 52 week low of $24.11 and a 52 week high of $78.00.

Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.11. The firm had revenue of $218.45 million for the quarter. Figure Technology Solutions had a return on equity of 18.90% and a net margin of 33.45%. On average, equities research analysts expect that Figure Technology Solutions will post 1.2 EPS for the current year.

About Figure Technology Solutions

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.

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