Figure Technology Solutions (NASDAQ:FIGR) Trading Up 8.5% – What’s Next?

Figure Technology Solutions, Inc. (NASDAQ:FIGR)’s stock price shot up 8.5% during trading on Thursday . The stock traded as high as $35.65 and last traded at $36.0050. Approximately 926,122 shares were traded during trading, a decline of 80% from the average daily volume of 4,574,385 shares. The stock had previously closed at $33.19.

Analyst Ratings Changes

FIGR has been the topic of several research reports. Mizuho upped their target price on Figure Technology Solutions from $45.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 price target on shares of Figure Technology Solutions in a research report on Thursday, August 20th. Wall Street Zen upgraded Figure Technology Solutions from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Sanford C. Bernstein increased their price objective on Figure Technology Solutions from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Finally, Piper Sandler reduced their price objective on Figure Technology Solutions from $75.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Figure Technology Solutions has an average rating of “Moderate Buy” and an average price target of $50.62.

Figure Technology Solutions Price Performance

The firm has a 50-day simple moving average of $31.83 and a two-hundred day simple moving average of $32.75. The company has a market capitalization of $6.68 billion and a price-to-earnings ratio of 38.67. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.22.

Figure Technology Solutions (NASDAQ:FIGR) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.11. The business had revenue of $218.45 million during the quarter. Figure Technology Solutions had a return on equity of 18.90% and a net margin of 33.45%. As a group, analysts predict that Figure Technology Solutions, Inc. will post 1.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Figure Technology Solutions news, insider David Stevens sold 47,650 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 376,599 shares of the company’s stock, valued at approximately $11,817,676.62. The trade was a 11.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Minchung Kgil sold 9,117 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $30.06, for a total transaction of $274,057.02. Following the sale, the chief financial officer directly owned 507,651 shares in the company, valued at $15,259,989.06. The trade was a 1.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 80,767 shares of company stock valued at $2,542,154 over the last three months. 26.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Figure Technology Solutions

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FIGR. UBS Group AG boosted its stake in shares of Figure Technology Solutions by 322.9% during the 4th quarter. UBS Group AG now owns 885,977 shares of the company’s stock worth $36,183,000 after acquiring an additional 676,470 shares in the last quarter. WIM INVESTMENT MANAGEMENT Ltd increased its stake in shares of Figure Technology Solutions by 53.6% in the 4th quarter. WIM INVESTMENT MANAGEMENT Ltd now owns 745,286 shares of the company’s stock valued at $30,437,000 after purchasing an additional 260,000 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in Figure Technology Solutions in the 4th quarter worth about $5,041,000. Vanguard Group Inc. raised its holdings in Figure Technology Solutions by 17.9% in the 4th quarter. Vanguard Group Inc. now owns 2,974,853 shares of the company’s stock worth $121,493,000 after purchasing an additional 452,136 shares during the period. Finally, Quantinno Capital Management LP purchased a new position in Figure Technology Solutions during the first quarter worth approximately $1,098,000.

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. 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.