Figure Technology Solutions (NASDAQ:FIGR) Shares Up 5.4% - Should You Buy?

Key Points

• Figure Technology Solutions shares rose 5.4% to about $35.55, although trading volume was 94% below the average daily level.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $52.88; however, several firms recently reduced their targets.
• The company exceeded quarterly earnings expectations, reporting $0.35 in EPS versus a $0.24 estimate and $218.45 million in revenue. Insiders have sold 71,650 shares worth about $2.27 million over the past 90 days.

Figure Technology Solutions, Inc. (NASDAQ:FIGR - Get Free Report)'s share price rose 5.4% during mid-day trading on Friday . The stock traded as high as $35.60 and last traded at $35.5450. Approximately 266,575 shares were traded during trading, a decline of 94% from the average daily volume of 4,552,489 shares. The stock had previously closed at $33.71.

Analysts Set New Price Targets

A number of research analysts recently commented on FIGR shares. Zacks Research upgraded shares of Figure Technology Solutions from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 17th. Wall Street Zen raised Figure Technology Solutions from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. Keefe, Bruyette & Woods lowered their price objective on Figure Technology Solutions from $55.00 to $45.00 and set an "outperform" rating for the company in a research report on Monday, July 13th. Piper Sandler cut their target price on Figure Technology Solutions from $75.00 to $65.00 and set an "overweight" rating on the stock in a report on Wednesday, July 15th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $55.00 price objective on shares of Figure Technology Solutions in a research note on Thursday, August 20th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $52.88.

Figure Technology Solutions Trading Up 4.7%

The stock has a market capitalization of $6.55 billion and a P/E ratio of 37.94. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.86 and a quick ratio of 1.86. The firm's 50 day moving average price is $32.48 and its 200 day moving average price is $32.95.

Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.24 by $0.11. The business had revenue of $218.45 million for the quarter. Figure Technology Solutions had a net margin of 33.45% and a return on equity of 18.90%. As a group, equities research analysts expect that Figure Technology Solutions, Inc. will post 1.2 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Minchung Kgil sold 8,000 shares of Figure Technology Solutions stock in a transaction on Monday, August 24th. The stock was sold at an average price of $38.69, for a total value of $309,520.00. Following the transaction, the chief financial officer directly owned 483,651 shares in the company, valued at approximately $18,712,457.19. This trade represents a 1.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Stevens sold 47,650 shares of the company's stock in a transaction on Friday, August 14th. The stock was sold at an average price of $31.38, for a total value of $1,495,257.00. Following the transaction, the insider directly owned 376,599 shares in the company, valued at approximately $11,817,676.62. The trade was a 11.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 71,650 shares of company stock valued at $2,268,097. Company insiders own 26.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. WPG Advisers LLC grew its holdings in shares of Figure Technology Solutions by 71.1% in the 1st quarter. WPG Advisers LLC now owns 934 shares of the company's stock worth $32,000 after acquiring an additional 388 shares during the period. State of Wyoming boosted its position in Figure Technology Solutions by 14.8% during the first quarter. State of Wyoming now owns 3,864 shares of the company's stock worth $131,000 after acquiring an additional 498 shares during the last quarter. Arcus Capital Partners LLC lifted its position in Figure Technology Solutions by 7.9% during the first quarter. Arcus Capital Partners LLC now owns 7,400 shares of the company's stock worth $251,000 after buying an additional 541 shares during the period. HB Wealth Management LLC increased its position in Figure Technology Solutions by 4.5% during the second quarter. HB Wealth Management LLC now owns 18,389 shares of the company's stock worth $565,000 after purchasing an additional 788 shares during the last quarter. Finally, Concurrent Investment Advisors LLC raised its position in shares of Figure Technology Solutions by 16.0% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 6,988 shares of the company's stock worth $215,000 after buying an additional 966 shares during the period.

Figure Technology Solutions Company Profile

Figure Technology Solutions, Inc is a financial technology company that develops and operates digital platforms for lending and other financial services. Its technology is designed to streamline the origination, underwriting, servicing and funding of loans through automated processes and data-driven tools.

The company's offerings have included home equity financing, personal loans and related lending products, delivered directly to consumers and through institutional or other financial-services partners.

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