Figure Technology Solutions (NASDAQ:FIGR) Trading 9% Higher - Here's What Happened

Key Points

• Figure Technology Solutions' stock increased by 9% to $48.20, with trading volume down 57% from its average.
• Multiple analysts have assigned ratings to the stock, with targets ranging from $40.00 to $54.00, reflecting a consensus "Moderate Buy" view.
• CEO Michael Benjamin Tannenbaum sold over 297,000 shares at $25.00 each, reducing his ownership by 6.77%.

Figure Technology Solutions, Inc. (NASDAQ:FIGR - Get Free Report)'s stock price traded up 9% during trading on Wednesday . The company traded as high as $48.36 and last traded at $48.20. 2,217,340 shares traded hands during trading, a decline of 57% from the average session volume of 5,198,803 shares. The stock had previously closed at $44.23.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Needham & Company LLC assumed coverage on Figure Technology Solutions in a research report on Monday. They set a "buy" rating and a $51.00 price objective for the company. Jefferies Financial Group assumed coverage on Figure Technology Solutions in a report on Monday. They issued a "hold" rating and a $40.00 target price for the company. Bank of America assumed coverage on Figure Technology Solutions in a report on Monday. They issued a "neutral" rating and a $41.00 target price for the company. Piper Sandler assumed coverage on Figure Technology Solutions in a report on Monday. They issued an "overweight" rating and a $50.00 target price for the company. Finally, Sanford C. Bernstein assumed coverage on Figure Technology Solutions in a report on Monday. They issued an "outperform" rating and a $54.00 target price for the company. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $46.69.

Figure Technology Solutions Trading Up 8.6%

Insider Buying and Selling at Figure Technology Solutions

In other Figure Technology Solutions news, CEO Michael Benjamin Tannenbaum sold 297,171 shares of the firm's stock in a transaction dated Friday, September 12th. The stock was 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 in the company, valued at $102,314,400. This trade represents a 6.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Adam Gilbert Boyden sold 468,860 shares of the firm's 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 transaction, the director owned 6,651,158 shares in the company, valued at approximately $166,278,950. This trade represents a 6.59% decrease in their ownership of the stock. The disclosure for this sale can be found here.

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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