Figure Technology Solutions (NASDAQ:FIGR) Coverage Initiated by Analysts at Bank of America

Key Points

• Bank of America has initiated coverage on Figure Technology Solutions (NASDAQ:FIGR) with a "neutral" rating and a price target of $41.00, suggesting a potential upside of 1.74% from its current price.
• Multiple analysts have rated FIGR with an average rating of "Moderate Buy" and a consensus target price of $46.69, with some analysts like Sanford C. Bernstein providing an "outperform" rating at a $54.00 target.
• Insider trading activity includes sales by Director Adam Boyden and CEO Michael Tannenbaum, each reducing their holdings by over 6%, raising questions about confidence in the company's near-term performance.

Equities researchers at Bank of America began coverage on shares of Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) in a note issued to investors on Monday,Benzinga reports. The brokerage set a "neutral" rating and a $41.00 price target on the stock. Bank of America's price objective would suggest a potential upside of 1.74% from the company's current price.

Several other equities research analysts have also commented on FIGR. Sanford C. Bernstein assumed coverage on shares of Figure Technology Solutions in a research report on Monday. They set an "outperform" rating and a $54.00 price target for the company. Jefferies Financial Group initiated coverage on shares of Figure Technology Solutions in a research note on Monday. They set a "hold" rating and a $40.00 price target on the stock. Piper Sandler initiated 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. The Goldman Sachs Group initiated coverage on Figure Technology Solutions in a research report on Monday. They issued a "buy" rating and a $42.00 price target for the company. Finally, Wall Street Zen upgraded Figure Technology Solutions to a "hold" rating in a research note on Monday, September 22nd. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $46.69.

Figure Technology Solutions Price Performance

Figure Technology Solutions stock opened at $40.30 on Monday. Figure Technology Solutions has a one year low of $30.01 and a one year high of $46.20.

Insiders Place Their Bets

In related news, Director Adam Gilbert Boyden sold 468,860 shares of the stock in a transaction dated 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 sale, the director directly owned 6,651,158 shares of the company's stock, valued at $166,278,950. This represents a 6.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael Benjamin Tannenbaum sold 297,171 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 $7,429,275.00. Following the transaction, the chief executive officer owned 4,092,576 shares of the company's stock, valued at $102,314,400. This trade represents a 6.77% 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.

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