Figure Technology Solutions (NASDAQ:FIGR) Price Target Raised to $55.00

Figure Technology Solutions (NASDAQ:FIGR) had its price target raised by investment analysts at Piper Sandler from $50.00 to $55.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price target indicates a potential upside of 25.11% from the company’s previous close.

A number of other brokerages have also issued reports on FIGR. Bank of America upped their target price on shares of Figure Technology Solutions from $41.00 to $47.00 and gave the company a “neutral” rating in a research note on Monday. The Goldman Sachs Group upped their price objective on Figure Technology Solutions from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, October 14th. Keefe, Bruyette & Woods started coverage on Figure Technology Solutions in a research report on Monday, October 6th. They issued an “outperform” rating and a $48.50 target price for the company. Mizuho upped their price target on Figure Technology Solutions from $47.00 to $56.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $51.00 price objective on shares of Figure Technology Solutions in a report on Monday. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Figure Technology Solutions presently has an average rating of “Moderate Buy” and an average price target of $49.94.

Figure Technology Solutions Stock Up 9.2%

FIGR traded up $3.72 during trading hours on Monday, reaching $43.96. 3,044,798 shares of the stock traded hands, compared to its average volume of 3,322,513. Figure Technology Solutions has a fifty-two week low of $30.01 and a fifty-two week high of $49.50.

Figure Technology Solutions (NASDAQ:FIGR) last posted 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 firm had revenue of $156.03 million during the quarter.

Insider Activity at Figure Technology Solutions

In related news, Director Adam Gilbert Boyden sold 468,860 shares of the firm’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 value of $11,721,500.00. Following the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Benjamin Tannenbaum sold 297,171 shares of Figure Technology Solutions stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $25.00, for a total transaction of $7,429,275.00. Following the sale, the chief executive officer owned 4,092,576 shares in the company, valued at approximately $102,314,400. This represents a 6.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FIGR. Voya Investment Management LLC acquired a new stake in Figure Technology Solutions in the third quarter worth approximately $721,000. Exchange Traded Concepts LLC bought a new position in shares of Figure Technology Solutions during the 3rd quarter valued at about $5,963,000. Blue Trust Inc. acquired a new position in shares of Figure Technology Solutions in the 3rd quarter worth approximately $64,000. Hennessy Advisors Inc. bought a new stake in shares of Figure Technology Solutions in the 3rd quarter worth approximately $255,000. Finally, CWA Asset Management Group LLC acquired a new stake in Figure Technology Solutions during the third quarter valued at approximately $1,412,000.

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.