Figure Technology Solutions (NASDAQ:FIGR) Upgraded at Bank of America

Bank of America upgraded shares of Figure Technology Solutions (NASDAQ:FIGR) from an underperform rating to a neutral rating in a research note published on Wednesday morning, MarketBeat.com reports. The firm currently has $49.00 target price on the stock, up from their previous target price of $31.00.

FIGR has been the subject of a number of other reports. Zacks Research raised shares of Figure Technology Solutions from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 17th. Weiss Ratings raised shares of Figure Technology Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 21st. Wall Street Zen upgraded shares of Figure Technology Solutions from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Keefe, Bruyette & Woods reduced their target price on shares of Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating for the company in a report on Monday, July 13th. Finally, Piper Sandler decreased their price target on shares of Figure Technology Solutions from $75.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $52.88.

Figure Technology Solutions Stock Performance

FIGR opened at $34.87 on Wednesday. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.22. Figure Technology Solutions has a 12-month low of $24.11 and a 12-month high of $78.00. The business has a 50 day moving average of $32.34 and a 200-day moving average of $32.84. The stock has a market cap of $6.47 billion and a price-to-earnings ratio of 37.50.

Figure Technology Solutions (NASDAQ:FIGR) last posted its earnings results on Thursday, August 13th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.11. Figure Technology Solutions had a return on equity of 18.90% and a net margin of 33.45%.The business had revenue of $218.45 million for the quarter. On average, equities research analysts expect that Figure Technology Solutions will post 1.2 earnings per share for the current year.

Insider Buying and Selling at Figure Technology Solutions

In other Figure Technology Solutions news, insider David Stevens sold 47,650 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $31.38, for a total transaction of $1,495,257.00. Following the transaction, the insider owned 376,599 shares in the company, valued at $11,817,676.62. This trade represents a 11.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Minchung Kgil sold 8,000 shares of Figure Technology Solutions stock in a transaction on Monday, August 24th. The stock was sold at an average price of $38.69, for a total value of $309,520.00. Following the sale, the chief financial officer directly owned 483,651 shares of the company’s stock, valued at $18,712,457.19. This represents a 1.63% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 80,767 shares of company stock valued at $2,542,154 over the last 90 days. 26.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Figure Technology Solutions

Hedge funds have recently bought and sold shares of the business. Global Retirement Partners LLC acquired a new stake in Figure Technology Solutions in the 4th quarter worth about $25,000. Strs Ohio acquired a new position in shares of Figure Technology Solutions during the 4th quarter worth approximately $34,000. MetLife Investment Management LLC bought a new position in shares of Figure Technology Solutions during the fourth quarter worth approximately $35,000. WPG Advisers LLC increased its holdings in shares of Figure Technology Solutions by 71.1% during the first quarter. WPG Advisers LLC now owns 934 shares of the company’s stock worth $32,000 after purchasing an additional 388 shares during the period. Finally, Johnson Financial Group Inc. acquired a new stake in shares of Figure Technology Solutions in the fourth quarter valued at approximately $41,000.

Figure Technology Solutions Company Profile

Figure Technology Solutions, Inc is a financial technology company that develops and operates digital platforms for lending and other financial services. Its technology is designed to streamline the origination, underwriting, servicing and funding of loans through automated processes and data-driven tools.

The company’s offerings have included home equity financing, personal loans and related lending products, delivered directly to consumers and through institutional or other financial-services partners.