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

Key Points

• Figure Technology Solutions received a “Moderate Buy” consensus rating from 11 analysts, with six buys, one strong buy, three holds and one sell. The average 12-month price target is $50.25.
• FIGR opened at $24.91, down 3.5%, with a $4.55 billion market capitalization; its shares have traded between $24.28 and $78.00 over the past year.
• The company slightly beat quarterly earnings expectations, reporting $0.18 in EPS versus $0.17 expected on $166.84 million in revenue. Insiders sold 155,463 shares worth roughly $5.9 million over the past 90 days.

Figure Technology Solutions, Inc. (NASDAQ:FIGR - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the eleven ratings firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $50.25.

Several research analysts have recently commented on the company. Needham & Company LLC reiterated a "buy" rating and issued a $55.00 price objective on shares of Figure Technology Solutions in a report on Wednesday, July 8th. Keefe, Bruyette & Woods cut 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 report on Monday, July 13th. Weiss Ratings raised Figure Technology Solutions from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, June 4th. Mizuho boosted their price objective on shares of Figure Technology Solutions from $45.00 to $55.00 and gave the company an "outperform" rating in a research report on Thursday, May 14th. Finally, Wall Street Zen downgraded shares of Figure Technology Solutions from a "hold" rating to a "sell" rating in a research note on Sunday, July 12th.

Figure Technology Solutions Stock Down 3.5%

FIGR opened at $24.91 on Friday. The stock has a market cap of $4.55 billion and a PE ratio of 42.95. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.20. Figure Technology Solutions has a 52 week low of $24.28 and a 52 week high of $78.00. The business's fifty day simple moving average is $30.03 and its 200 day simple moving average is $36.39.

Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) last released its earnings results on Monday, May 11th. The company reported $0.18 earnings per share for the quarter, topping analysts' consensus estimates of $0.17 by $0.01. The firm had revenue of $166.84 million during the quarter. As a group, research analysts expect that Figure Technology Solutions will post 0.92 earnings per share for the current fiscal year.

Insider Activity at Figure Technology Solutions

In related news, insider David Todd Stevens sold 47,064 shares of Figure Technology Solutions stock in a transaction dated 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 $17,196,259.85. This trade represents a 10.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director June Ou sold 35,190 shares of the business's 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 155,463 shares of company stock worth $5,926,353 over the last 90 days. 26.60% of the stock is currently owned by insiders.

Institutional Trading of Figure Technology Solutions

Institutional investors and hedge funds have recently bought and sold shares of the company. Handelsbanken Fonder AB bought a new position in shares of Figure Technology Solutions in the second quarter worth approximately $1,370,000. CTC Alternative Strategies Ltd. purchased a new stake in shares of Figure Technology Solutions during the first quarter valued at approximately $511,000. Vestor Capital LLC increased its position in shares of Figure Technology Solutions by 2,908.7% during the first quarter. Vestor Capital LLC now owns 81,234 shares of the company's stock valued at $2,758,000 after acquiring an additional 78,534 shares in the last quarter. Feynman Point Asset Management LLC purchased a new position in Figure Technology Solutions in the 1st quarter worth approximately $2,865,000. Finally, Royal Bank of Canada raised its holdings in Figure Technology Solutions by 47.8% in the 1st quarter. Royal Bank of Canada now owns 35,749 shares of the company's stock worth $1,214,000 after acquiring an additional 11,560 shares during the last quarter.

Figure Technology Solutions Company Profile

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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