Figure Technology Solutions (NASDAQ:FIGR) Stock Price Down 9.6% - Time to Sell?

Key Points

• Down 9.6% intraday — FIGR fell to $32.10 (from $35.50) with ~2.31M shares traded, roughly 50% below its average daily volume.
• Analysts are mixed but optimistic overall: the stock has a MarketBeat consensus of "Moderate Buy" with a average target of $59.50, while some firms raised targets (Piper Sandler $75, KBW $62) and others downgraded (BofA, Zacks).
• Significant insider selling has occurred recently — insiders sold about 1.35M shares (~$48.7M) in the past 90 days — while the company trades at a high P/E (~95.9) and a market cap of $5.74B.

Shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR - Get Free Report) dropped 9.6% during mid-day trading on Thursday . The stock traded as low as $32.07 and last traded at $32.10. Approximately 2,306,773 shares changed hands during trading, a decline of 50% from the average daily volume of 4,598,792 shares. The stock had previously closed at $35.50.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on FIGR shares. Piper Sandler boosted their price objective on Figure Technology Solutions from $55.00 to $75.00 and gave the company an "overweight" rating in a research note on Wednesday, January 14th. Keefe, Bruyette & Woods lifted their target price on Figure Technology Solutions from $52.00 to $62.00 and gave the company an "outperform" rating in a research report on Thursday, January 8th. Bank of America downgraded shares of Figure Technology Solutions from a "neutral" rating to an "underperform" rating and set a $42.00 price objective for the company. in a research report on Tuesday, February 3rd. Zacks Research cut shares of Figure Technology Solutions from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 4th. Finally, Mizuho increased their price target on Figure Technology Solutions from $47.00 to $56.00 and gave the stock an "outperform" rating in a research note on Monday, November 17th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $59.50.

Figure Technology Solutions Price Performance

The stock's 50 day moving average is $49.27. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.26 and a current ratio of 2.26. The stock has a market capitalization of $5.74 billion and a P/E ratio of 95.91.

Insider Activity at Figure Technology Solutions

In related news, Director Michael Scott Cagney sold 250,000 shares of the business's stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $34.06, for a total value of $8,515,000.00. Following the completion of the sale, the director owned 6,128,993 shares in the company, valued at $208,753,501.58. The trade was a 3.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider David Todd Stevens sold 40,000 shares of the stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $35.22, for a total value of $1,408,800.00. Following the sale, the insider owned 489,000 shares of the company's stock, valued at $17,222,580. This represents a 7.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,352,573 shares of company stock valued at $48,731,291 in the last ninety days.

Institutional Investors Weigh In On Figure Technology Solutions

A number of hedge funds have recently added to or reduced their stakes in the stock. Orland Properties Ltd bought a new stake in shares of Figure Technology Solutions in the third quarter worth $319,187,000. J Digital 6 LLC grew its stake in shares of Figure Technology Solutions by 9.1% during the 4th quarter. J Digital 6 LLC now owns 3,276,587 shares of the company's stock valued at $133,816,000 after purchasing an additional 274,145 shares during the period. Vanguard Group Inc. lifted its stake in shares of Figure Technology Solutions by 17.9% in the 4th quarter. Vanguard Group Inc. now owns 2,974,853 shares of the company's stock worth $121,493,000 after purchasing an additional 452,136 shares during the period. Duquesne Family Office LLC purchased a new position in shares of Figure Technology Solutions in the third quarter worth approximately $76,989,000. Finally, Fred Alger Management LLC bought a new position in Figure Technology Solutions in the fourth quarter worth approximately $67,386,000.

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. 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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