Figure Technology Solutions, Inc. (NASDAQ:FIGR) Stock Has Average Target Price of $52.43 According to Brokerages

Key Points

• Analyst sentiment is broadly positive: 12 analysts give Figure Technology Solutions an average “Buy” rating, with a 12-month average price target of $52.43. Six rate it Buy, four Strong Buy, one Hold, and one Sell.
• Recent results topped expectations: Figure reported quarterly EPS of $0.35 versus the $0.24 consensus and revenue of $218.45 million; analysts expect full-year EPS of $1.18 on average.
• Insiders have been selling shares: Company insiders sold 59,650 shares worth about $1.92 million over three months, though the disclosed transactions were made under pre-arranged Rule 10b5-1 trading plans.

Shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR - Get Free Report) have been assigned an average recommendation of "Buy" from the twelve analysts that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, six have assigned a buy recommendation and four have assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $52.43.

Several research firms recently weighed in on FIGR. Needham & Company LLC reissued a "buy" rating on shares of Figure Technology Solutions in a research note on Wednesday, October 7th. Freedom Capital raised shares of Figure Technology Solutions to a "strong-buy" rating in a research note on Thursday, October 15th. Sanford C. Bernstein increased their target price on shares of Figure Technology Solutions from $67.00 to $70.00 and gave the stock an "outperform" rating in a report on Thursday, August 6th. 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. Finally, Piper Sandler lowered their price objective 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.

Insider Transactions at Figure Technology Solutions

In related news, CFO Minchung Kgil sold 8,000 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $38.69, for a total transaction of $309,520.00. Following the completion of the sale, the chief financial officer directly owned 483,651 shares of the company's stock, valued at approximately $18,712,457.19. This represents a 1.63% decrease in their position. The transaction was disclosed in a document filed 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 that occurred on Friday, August 14th. The stock was sold at an average price of $31.38, for a total transaction of $1,495,257.00. Following the sale, the insider owned 376,599 shares in the company, valued at $11,817,676.62. This trade represents 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. Over the last three months, insiders sold 59,650 shares of company stock valued at $1,924,897. Insiders own 26.60% of the company's stock.

Institutional Trading of Figure Technology Solutions

Several hedge funds and other institutional investors have recently modified their holdings of the company. State of Wyoming boosted its holdings in Figure Technology Solutions by 14.8% during the first quarter. State of Wyoming now owns 3,864 shares of the company's stock worth $131,000 after purchasing an additional 498 shares during the last quarter. Arcus Capital Partners LLC grew its position 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 in the last quarter. HB Wealth Management LLC increased its stake in Figure Technology Solutions by 4.5% in the 2nd quarter. HB Wealth Management LLC now owns 18,389 shares of the company's stock valued at $565,000 after buying an additional 788 shares during the last quarter. WPG Advisers LLC increased its stake in Figure Technology Solutions by 98.5% in the 3rd quarter. WPG Advisers LLC now owns 1,640 shares of the company's stock valued at $47,000 after buying an additional 814 shares during the last quarter. Finally, Concurrent Investment Advisors LLC lifted its position 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 worth $215,000 after buying an additional 966 shares in the last quarter.

Figure Technology Solutions Trading Up 7.9%

Shares of NASDAQ FIGR opened at $24.52 on Tuesday. The company's 50 day simple moving average is $29.16 and its 200 day simple moving average is $33.22. Figure Technology Solutions has a fifty-two week low of $19.54 and a fifty-two week high of $78.00. The firm has a market capitalization of $4.55 billion, a P/E ratio of 26.37, a P/E/G ratio of 0.35 and a beta of 0.94. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.86 and a quick ratio of 1.86.

Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) last issued 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. 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 predict that Figure Technology Solutions will post 1.18 EPS for the current year.

Figure Technology Solutions Company Profile

Figure Technology Solutions is a financial technology company that develops blockchain-based platforms for lending and capital markets. Its technology is designed to digitize and streamline financial transactions, including loan origination and the trading of financial assets.

The company's offerings include home equity financing and technology for financial institutions and other lending partners. Figure also operates digital marketplaces and provides services supporting the issuance and transfer of assets on the Provenance Blockchain.

Founded in 2018 by entrepreneur Mike Cagney, Figure is based in the United States and serves consumers and financial services businesses.

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