Figure Technology Solutions (NASDAQ:FIGR) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Key Points

• The Goldman Sachs Group has raised its price target for Figure Technology Solutions (NASDAQ:FIGR) from $42.00 to $48.00, indicating a potential upside of 6.90% from the stock's previous close.
• Multiple analysts have recently issued ratings for FIGR, with six giving a "Buy" rating and an average target price of $47.44.
• CEO Michael Tannenbaum sold over 297,000 shares at $25.00 each, reducing his ownership, while hedge fund Voya Investment Management LLC purchased a new stake valued at approximately $721,000.

Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) had its price target lifted by The Goldman Sachs Group from $42.00 to $48.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock. The Goldman Sachs Group's target price indicates a potential upside of 6.90% from the company's previous close.

Other equities analysts also recently issued reports about the stock. Zacks Research upgraded shares of Figure Technology Solutions to a "hold" rating in a report on Tuesday, October 7th. Sanford C. Bernstein initiated coverage on shares of Figure Technology Solutions in a research note on Monday, October 6th. They issued an "outperform" rating and a $54.00 target price on the stock. Needham & Company LLC began coverage on shares of Figure Technology Solutions in a research note on Monday, October 6th. They issued a "buy" rating and a $51.00 target price on the stock. Piper Sandler began coverage on shares of Figure Technology Solutions in a research report on Monday, October 6th. They issued an "overweight" rating and a $50.00 price target for the company. Finally, Bank of America assumed coverage on shares of Figure Technology Solutions in a research report on Monday, October 6th. They set a "neutral" rating and a $41.00 target price for the company. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, Figure Technology Solutions currently has an average rating of "Moderate Buy" and an average price target of $47.44.

Figure Technology Solutions Stock Performance

Shares of NASDAQ FIGR traded up $0.90 during mid-day trading on Tuesday, hitting $44.90. 1,374,641 shares of the company's stock traded hands, compared to its average volume of 4,861,908. Figure Technology Solutions has a 1 year low of $30.01 and a 1 year high of $49.50.

Insiders Place Their Bets

In other news, CEO Michael Benjamin Tannenbaum sold 297,171 shares of the stock in a transaction 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 sale, the chief executive officer owned 4,092,576 shares in the company, valued at $102,314,400. This represents a 6.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Adam Gilbert Boyden sold 468,860 shares of the stock in a transaction on Friday, September 12th. The stock was 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 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.

Hedge Funds Weigh In On Figure Technology Solutions

A hedge fund recently bought a new stake in Figure Technology Solutions stock. Voya Investment Management LLC bought a new position in shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 19,814 shares of the company's stock, valued at approximately $721,000.

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.

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