Figure Technology Solutions (NASDAQ:FIGR) Upgraded at Zacks Research

Figure Technology Solutions (NASDAQ:FIGR) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

FIGR has been the subject of several other research reports. Mizuho dropped their price objective on Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating for the company in a report on Thursday, March 26th. Weiss Ratings lowered shares of Figure Technology Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, February 11th. The Goldman Sachs Group reduced their price target on shares of Figure Technology Solutions from $49.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, March 2nd. Needham & Company LLC decreased their price target on shares of Figure Technology Solutions from $71.00 to $55.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Finally, Sanford C. Bernstein lowered their price objective on shares of Figure Technology Solutions from $72.00 to $67.00 and set an “outperform” rating for the company in a report on Monday, March 30th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $53.75.

Figure Technology Solutions Trading Up 1.3%

NASDAQ FIGR opened at $35.62 on Tuesday. Figure Technology Solutions has a fifty-two week low of $25.01 and a fifty-two week high of $78.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.20 and a current ratio of 2.20. The stock has a 50 day simple moving average of $33.81 and a two-hundred day simple moving average of $41.03. The stock has a market cap of $6.32 billion and a P/E ratio of 89.05.

Figure Technology Solutions (NASDAQ:FIGR) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.07). The business had revenue of $157.63 million during the quarter, compared to analyst estimates of $158.00 million. Figure Technology Solutions’s revenue was up 90.7% on a year-over-year basis.

Figure Technology Solutions declared that its Board of Directors has initiated a stock repurchase program on Thursday, February 26th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to buy up to 3.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity at Figure Technology Solutions

In other news, insider David Todd Stevens sold 49,708 shares of the stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $32.02, for a total value of $1,591,650.16. Following the completion of the transaction, the insider owned 436,089 shares of the company’s stock, valued at approximately $13,963,569.78. This represents a 10.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sachin Chand Jaitly sold 216,713 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $33.64, for a total value of $7,290,225.32. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 292,478 shares of company stock valued at $9,715,699 in the last three months.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FIGR. Voya Investment Management LLC bought a new position in shares of Figure Technology Solutions in the 3rd quarter worth approximately $721,000. Exchange Traded Concepts LLC bought a new position in shares of Figure Technology Solutions in the 3rd quarter worth approximately $5,963,000. Blue Trust Inc. purchased a new stake in shares of Figure Technology Solutions in the 3rd quarter worth approximately $64,000. Hennessy Advisors Inc. purchased a new stake in shares of Figure Technology Solutions in the 3rd quarter worth approximately $255,000. Finally, CWA Asset Management Group LLC purchased a new stake in shares of Figure Technology Solutions in the 3rd quarter worth approximately $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.