Figure Technology Solutions (NASDAQ:FIGR) Stock Price Up 8.8% – Should You Buy?

Shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) shot up 8.8% during trading on Tuesday . The company traded as high as $38.46 and last traded at $38.41. 3,623,048 shares were traded during mid-day trading, a decline of 20% from the average session volume of 4,530,669 shares. The stock had previously closed at $35.29.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Zacks Research cut shares of Figure Technology Solutions from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 4th. 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. Needham & Company LLC restated a “buy” rating and issued a $71.00 price objective on shares of Figure Technology Solutions in a research report on Thursday, February 5th. Piper Sandler raised their price objective on Figure Technology Solutions from $55.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. Finally, Bank of America downgraded Figure Technology Solutions from a “neutral” rating to an “underperform” rating and set a $42.00 price target for the company. in a report on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $59.50.

Figure Technology Solutions Stock Up 4.6%

The company has a debt-to-equity ratio of 0.17, a current ratio of 2.26 and a quick ratio of 2.26. The stock has a market cap of $6.50 billion and a P/E ratio of 108.56. The firm’s fifty day moving average price is $49.36.

Insider Transactions at Figure Technology Solutions

In other news, CFO Minchung Kgil sold 32,994 shares of Figure Technology Solutions stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $35.05, for a total value of $1,156,439.70. Following the sale, the chief financial officer directly owned 584,155 shares in the company, valued at $20,474,632.75. This trade represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David Todd Stevens sold 40,000 shares of the stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $35.22, for a total transaction of $1,408,800.00. Following the transaction, the insider owned 489,000 shares of the company’s stock, valued at $17,222,580. The trade was a 7.56% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 2,352,573 shares of company stock worth $84,951,291.

Institutional Trading of Figure Technology Solutions

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Global Retirement Partners LLC acquired a new position in Figure Technology Solutions during the fourth quarter valued at approximately $25,000. Strs Ohio acquired a new stake in shares of Figure Technology Solutions in the 4th quarter valued at approximately $34,000. MetLife Investment Management LLC bought a new position in shares of Figure Technology Solutions in the fourth quarter valued at $35,000. Flagship Harbor Advisors LLC acquired a new position in Figure Technology Solutions during the fourth quarter worth $40,000. Finally, Johnson Financial Group Inc. bought a new stake in Figure Technology Solutions during the fourth quarter worth $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.