Figure Technology Solutions (NASDAQ:FIGR) Trading Down 14.1% – What’s Next?

Figure Technology Solutions, Inc. (NASDAQ:FIGR)’s share price traded down 14.1% during mid-day trading on Thursday . The company traded as low as $58.00 and last traded at $58.32. 2,769,069 shares changed hands during trading, a decline of 40% from the average session volume of 4,629,880 shares. The stock had previously closed at $67.92.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on FIGR shares. Jefferies Financial Group initiated coverage on shares of Figure Technology Solutions in a research note on Monday, October 6th. They set a “hold” rating and a $40.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and issued a $51.00 target price on shares of Figure Technology Solutions in a research note on Monday, November 17th. Bank of America lifted their price objective on shares of Figure Technology Solutions from $41.00 to $47.00 and gave the stock a “neutral” rating in a research note on Monday, November 17th. Zacks Research raised Figure Technology Solutions from a “hold” rating to a “strong-buy” rating in a report on Friday, January 2nd. Finally, The Goldman Sachs Group upped their price target on shares of Figure Technology Solutions from $51.00 to $58.00 and gave the company a “buy” rating in a research report on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Figure Technology Solutions currently has an average rating of “Moderate Buy” and an average price target of $57.63.

Figure Technology Solutions Price Performance

The stock has a market cap of $10.02 billion and a PE ratio of 167.29. The firm’s fifty day moving average is $48.64. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 0.17.

Figure Technology Solutions (NASDAQ:FIGR) last released its quarterly earnings data on Thursday, November 13th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.18. The business had revenue of $156.03 million during the quarter.

Insider Transactions at Figure Technology Solutions

In other news, insider David Todd Stevens sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $35.22, for a total value of $1,408,800.00. Following the transaction, the insider owned 489,000 shares in the company, valued at $17,222,580. This trade represents a 7.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director June Ou sold 200,058 shares of the company’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $39.40, for a total value of $7,882,285.20. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 3,344,073 shares of company stock valued at $123,816,526.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Voya Investment Management LLC bought a new stake in shares of Figure Technology Solutions in the 3rd quarter worth approximately $721,000. Exchange Traded Concepts LLC purchased a new stake in Figure Technology Solutions in the third quarter worth $5,963,000. Blue Trust Inc. bought a new stake in shares of Figure Technology Solutions in the third quarter valued at $64,000. Hennessy Advisors Inc. purchased a new position in shares of Figure Technology Solutions during the 3rd quarter valued at $255,000. Finally, CWA Asset Management Group LLC bought a new position in shares of Figure Technology Solutions during the 3rd quarter worth $1,412,000.

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. 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.