Figure Technology Solutions, Inc. (NASDAQ:FIGR) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Figure Technology Solutions, with six buy, two strong-buy, two hold and one sell rating. The average 12-month price target is $50.63.
• Figure reported quarterly EPS of $0.35, exceeding the $0.24 consensus estimate, on revenue of $218.45 million. Analysts expect the company to generate $1.18 in EPS for the full year.
• Shares opened at $37.08 after a reported 9.9% decline, while insiders sold 80,767 shares worth about $2.54 million over the past 90 days; institutional investors including Vanguard increased their positions.

Figure Technology Solutions, Inc. (NASDAQ:FIGR - Get Free Report) has received an average recommendation of "Moderate Buy" from the eleven brokerages that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, six have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $50.6250.

A number of brokerages have recently issued reports on FIGR. Weiss Ratings raised Figure Technology Solutions from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, August 21st. Mizuho increased their target price on Figure Technology Solutions from $45.00 to $55.00 and gave the company an "outperform" rating in a report on Thursday, May 14th. Sanford C. Bernstein raised their price target on Figure Technology Solutions from $67.00 to $70.00 and gave the stock an "outperform" rating in a research report on Thursday, August 6th. Piper Sandler decreased their price target on Figure Technology Solutions from $75.00 to $65.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods decreased their price target on Figure Technology Solutions from $55.00 to $45.00 and set an "outperform" rating on the stock in a research note on Monday, July 13th.

Insider Activity at Figure Technology Solutions

In related news, insider David Todd Stevens sold 47,650 shares of the company's stock in a transaction on 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 completion of the sale, the insider directly owned 376,599 shares in the company, valued at $11,817,676.62. This represents a 11.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Minchung Kgil sold 9,117 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $30.06, for a total transaction of $274,057.02. Following the sale, the chief financial officer directly owned 507,651 shares of the company's stock, valued at $15,259,989.06. The trade was a 1.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 80,767 shares of company stock worth $2,542,154 in the last 90 days. Company insiders own 26.60% of the company's stock.

Hedge Funds Weigh In On Figure Technology Solutions

Hedge funds and other institutional investors have recently modified their holdings of the company. J Digital 6 LLC grew its stake in shares of Figure Technology Solutions by 9.1% in the fourth quarter. J Digital 6 LLC now owns 3,276,587 shares of the company's stock worth $133,816,000 after purchasing an additional 274,145 shares during the last quarter. Vanguard Group Inc. raised its position in 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 purchasing an additional 452,136 shares during the last quarter. Duquesne Family Office LLC bought a new position in Figure Technology Solutions during the 3rd quarter valued at approximately $76,989,000. Fred Alger Management LLC purchased a new stake in Figure Technology Solutions in the 4th quarter worth approximately $67,386,000. Finally, Pantera Capital Partners LP bought a new stake in shares of Figure Technology Solutions in the 3rd quarter worth approximately $56,114,000.

Figure Technology Solutions Trading Down 9.9%

Shares of FIGR opened at $37.08 on Thursday. Figure Technology Solutions has a fifty-two week low of $24.11 and a fifty-two week high of $78.00. The firm has a market cap of $6.88 billion and a price-to-earnings ratio of 39.87. The firm has a 50 day moving average price of $30.74 and a 200-day moving average price of $32.80. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.86 and a current ratio of 1.86.

Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) last released its earnings results on Thursday, August 13th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.24 by $0.11. The company had revenue of $218.45 million for the quarter. Figure Technology Solutions had a net margin of 33.45% and a return on equity of 18.90%. As a group, equities research analysts forecast that Figure Technology Solutions will post 1.18 earnings per share for the current year.

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.

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