Zacks Research Upgrades Figure Technology Solutions (NASDAQ:FIGR) to "Hold"

Key Points

• Zacks Research has upgraded Figure Technology Solutions (NASDAQ:FIGR) to a "Hold" rating, while several brokerages have initiated coverage with ratings ranging from "Buy" to "Neutral" and price targets from $40.00 to $54.00.
• Figure Technology Solutions experienced a trading decline, with shares falling to $47.77 and a trading volume noticeably lower than average, indicating potential volatility.
• Recent insider activity includes substantial share sales by CEO Michael Benjamin Tannenbaum and Director Adam Gilbert Boyden, each reducing their ownership by over 6% during the transactions.

Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) was upgraded by analysts at Zacks Research to a "hold" rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other brokerages have also commented on FIGR. Bank of America began coverage on Figure Technology Solutions in a report on Monday. They set a "neutral" rating and a $41.00 price objective for the company. Jefferies Financial Group assumed coverage on Figure Technology Solutions in a report on Monday. They set a "hold" rating and a $40.00 price objective for the company. Sanford C. Bernstein assumed coverage on Figure Technology Solutions in a report on Monday. They set an "outperform" rating and a $54.00 price objective on the stock. The Goldman Sachs Group assumed coverage on Figure Technology Solutions in a report on Monday. They set a "buy" rating and a $42.00 price objective on the stock. Finally, Mizuho assumed coverage on Figure Technology Solutions in a report on Monday. They set an "outperform" rating and a $47.00 price objective on the stock. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Figure Technology Solutions presently has a consensus rating of "Moderate Buy" and an average price target of $46.69.

Figure Technology Solutions Stock Performance

NASDAQ FIGR traded down $1.40 during trading hours on Tuesday, hitting $47.77. The company had a trading volume of 708,066 shares, compared to its average volume of 5,062,026. Figure Technology Solutions has a 52 week low of $30.01 and a 52 week high of $49.50.

Insider Activity at Figure Technology Solutions

In other news, CEO Michael Benjamin Tannenbaum sold 297,171 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $102,314,400. The trade was a 6.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Adam Gilbert Boyden sold 468,860 shares of the business's stock in a transaction that occurred on 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 directly owned 6,651,158 shares in the company, valued at $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.

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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