Figure Technology Solutions (NASDAQ:FIGR) Announces Earnings Results, Beats Estimates By $0.18 EPS

Figure Technology Solutions (NASDAQ:FIGR) announced its earnings results on Thursday. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.16 by $0.18, Zacks reports. The firm had revenue of $156.03 million during the quarter.

Figure Technology Solutions Price Performance

Figure Technology Solutions stock traded up $6.65 on Friday, hitting $41.24. The company’s stock had a trading volume of 4,742,163 shares, compared to its average volume of 3,319,935. Figure Technology Solutions has a one year low of $30.01 and a one year high of $49.50.

Insider Transactions at Figure Technology Solutions

In other news, Director Adam Gilbert Boyden sold 468,860 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 $11,721,500.00. Following the sale, the director directly owned 6,651,158 shares in the company, valued at approximately $166,278,950. The trade was a 6.59% 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, CEO Michael Benjamin Tannenbaum sold 297,171 shares of the company’s 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 completion of the sale, the chief executive officer directly owned 4,092,576 shares in the company, valued at approximately $102,314,400. The trade was a 6.77% decrease in their position. The SEC filing for this sale provides additional information.

Hedge Funds Weigh In On Figure Technology Solutions

Hedge funds have recently modified their holdings of the stock. Balyasny Asset Management L.P. acquired a new stake in Figure Technology Solutions in the 3rd quarter valued at $36,087,000. Invesco Ltd. bought a new position in shares of Figure Technology Solutions during the third quarter valued at $25,451,000. Squarepoint Ops LLC acquired a new stake in shares of Figure Technology Solutions in the 3rd quarter valued at $18,190,000. Ratan Capital Management LP acquired a new stake in shares of Figure Technology Solutions in the 3rd quarter valued at $10,911,000. Finally, Victory Capital Management Inc. bought a new stake in shares of Figure Technology Solutions in the 3rd quarter worth about $9,221,000.

Analyst Ratings Changes

A number of research firms have recently commented on FIGR. Piper Sandler started coverage on Figure Technology Solutions in a research note on Monday, October 6th. They issued an “overweight” rating and a $50.00 price objective on the stock. Sanford C. Bernstein initiated coverage on Figure Technology Solutions in a report on Monday, October 6th. They issued an “outperform” rating and a $54.00 target price on the stock. Keefe, Bruyette & Woods assumed coverage on Figure Technology Solutions in a research report on Monday, October 6th. They issued an “outperform” rating and a $48.50 price target on the stock. Zacks Research raised Figure Technology Solutions to a “hold” rating in a research report on Tuesday, October 7th. Finally, Jefferies Financial Group started coverage on shares of Figure Technology Solutions in a research note on Monday, October 6th. They issued a “hold” rating and a $40.00 price objective on the stock. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.44.

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.