Figure Technology Solutions (NASDAQ:FIGR) Reaches New 12-Month High - Still a Buy?

Key Points

• Figure Technology Solutions' stock reached a new 12-month high of $48.42 during trading, closing at $47.57, marking an increase from a previous close of $43.59.
• Multiple analysts have issued ratings and price targets for the stock, with Piper Sandler setting an "overweight" rating and a price objective of $50.00, while Sanford C. Bernstein has an "outperform" rating at $54.00.
• Recent insider activities include significant stock sales by Director Adam Gilbert Boyden and CEO Michael Benjamin Tannenbaum, each reducing their ownership in the company by approximately 6.5%.

Shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $48.42 and last traded at $47.57, with a volume of 1711107 shares changing hands. The stock had previously closed at $43.59.

Analysts Set New Price Targets

A number of research firms recently commented on FIGR. Piper Sandler assumed coverage on shares of Figure Technology Solutions in a research note on Monday. They issued an "overweight" rating and a $50.00 price objective for the company. Sanford C. Bernstein initiated coverage on Figure Technology Solutions in a research report on Monday. They issued an "outperform" rating and a $54.00 target price for the company. Jefferies Financial Group started coverage on Figure Technology Solutions in a report on Monday. They set a "hold" rating and a $40.00 price target on the stock. Wall Street Zen raised Figure Technology Solutions to a "hold" rating in a research note on Monday, September 22nd. Finally, Mizuho started coverage on Figure Technology Solutions in a research report on Monday. They set an "outperform" rating and a $47.00 price objective for the company. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $46.69.

Figure Technology Solutions Trading Up 11.5%

Insider Activity at Figure Technology Solutions

In other Figure Technology Solutions news, Director Adam Gilbert Boyden sold 468,860 shares of the company's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $25.00, for a total transaction of $11,721,500.00. Following the completion of the sale, the director directly owned 6,651,158 shares in the company, valued at $166,278,950. This represents a 6.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Benjamin Tannenbaum sold 297,171 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer directly owned 4,092,576 shares of the company's stock, valued at $102,314,400. This 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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