Figure Technology Solutions (NASDAQ:FIGR) Shares Up 7.4% – Time to Buy?

Figure Technology Solutions, Inc. (NASDAQ:FIGR) rose 7.4% during mid-day trading on Wednesday . The stock traded as high as $32.42 and last traded at $31.94. Approximately 1,359,117 shares changed hands during trading, a decline of 71% from the average daily volume of 4,702,705 shares. The stock had previously closed at $29.75.

Analysts Set New Price Targets

Several brokerages recently commented on FIGR. Mizuho lifted their target price on shares of Figure Technology Solutions from $47.00 to $56.00 and gave the stock an “outperform” rating in a research note on Monday, November 17th. Bank of America lowered Figure Technology Solutions from a “neutral” rating to an “underperform” rating and set a $42.00 price target on the stock. in a research report on Tuesday, February 3rd. Piper Sandler boosted their target price on shares of Figure Technology Solutions from $55.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Keefe, Bruyette & Woods raised shares of Figure Technology Solutions from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, February 19th. Finally, Weiss Ratings cut shares of Figure Technology Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, February 11th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Figure Technology Solutions currently has an average rating of “Moderate Buy” and a consensus target price of $59.50.

Figure Technology Solutions Trading Up 17.1%

The company has a quick ratio of 2.26, a current ratio of 2.26 and a debt-to-equity ratio of 0.17. The stock has a market cap of $6.14 billion and a price-to-earnings ratio of 102.50. The stock’s 50 day moving average price is $48.51.

Insider Buying and Selling

In related news, insider David Todd Stevens sold 40,000 shares of Figure Technology Solutions stock in a transaction dated 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 completion of the sale, the insider directly owned 489,000 shares in the company, valued at approximately $17,222,580. This trade represents a 7.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Scott Cagney sold 200,058 shares of the business’s stock in a transaction dated 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. Insiders sold 723,136 shares of company stock worth $27,113,723 over the last 90 days.

Institutional Trading of Figure Technology Solutions

Large investors have recently made changes to their positions in the stock. Global Retirement Partners LLC purchased a new stake in Figure Technology Solutions in the fourth quarter worth approximately $25,000. Strs Ohio bought a new position in shares of Figure Technology Solutions during the 4th quarter valued at $34,000. MetLife Investment Management LLC purchased a new position in shares of Figure Technology Solutions in the 4th quarter worth $35,000. Flagship Harbor Advisors LLC purchased a new stake in Figure Technology Solutions during the fourth quarter valued at $40,000. Finally, Johnson Financial Group Inc. bought a new position in Figure Technology Solutions in the fourth quarter valued at about $41,000.

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.