Figure Technology Solutions (NASDAQ:FIGR) Coverage Initiated at Needham & Company LLC

Key Points

• Needham & Company LLC has initiated coverage on Figure Technology Solutions (NASDAQ:FIGR) with a strong "buy" rating and a price target of $51.00, suggesting a potential upside of 26.55% from its current price.
• Multiple analysts have rated the stock positively, with six giving it a "buy" rating and a consensus price target of $46.69.
• Significant insider activity was reported, including CEO Michael Benjamin Tannenbaum and Director Adam Gilbert Boyden selling large quantities of shares, indicating a decrease in their positions by approximately 6.77% and 6.59%, respectively.

Equities researchers at Needham & Company LLC assumed coverage on shares of Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) in a research report issued on Monday,Benzinga reports. The brokerage set a "buy" rating and a $51.00 price target on the stock. Needham & Company LLC's target price indicates a potential upside of 26.55% from the stock's current price.

Several other equities research analysts have also issued reports on the company. Piper Sandler started coverage on Figure Technology Solutions in a research note on Monday. They issued an "overweight" rating and a $50.00 price objective for the company. Keefe, Bruyette & Woods assumed coverage on Figure Technology Solutions in a research note on Monday. They issued an "outperform" rating and a $48.50 target price on the stock. Bank of America initiated coverage on Figure Technology Solutions in a report on Monday. They issued a "neutral" rating and a $41.00 price objective on the stock. Mizuho started coverage on shares of Figure Technology Solutions in a report on Monday. They set an "outperform" rating and a $47.00 price target for the company. Finally, Sanford C. Bernstein started coverage on shares of Figure Technology Solutions in a research report on Monday. They issued an "outperform" rating and a $54.00 price target for the company. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $46.69.

Figure Technology Solutions Trading Down 2.4%

Shares of FIGR opened at $40.30 on Monday. Figure Technology Solutions has a twelve month low of $30.01 and a twelve month high of $46.20.

Insider Activity

In other Figure Technology Solutions news, CEO Michael Benjamin Tannenbaum sold 297,171 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $25.00, for a total transaction of $7,429,275.00. Following the sale, the chief executive officer directly owned 4,092,576 shares in the company, valued at approximately $102,314,400. This trade represents a 6.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Adam Gilbert Boyden sold 468,860 shares of the business's stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $25.00, for a total value of $11,721,500.00. Following the completion of the sale, the director owned 6,651,158 shares in the company, valued at $166,278,950. The trade was a 6.59% decrease in their position. The disclosure for this sale can be found here.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.