Figure Technology Solutions (NASDAQ:FIGR) Sets New 1-Year Low – What’s Next?

Shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) reached a new 52-week low on Thursday. The stock traded as low as $24.10 and last traded at $24.3830, with a volume of 1,999,867 shares traded. The stock had previously closed at $25.36.

Wall Street Analysts Forecast Growth

FIGR has been the topic of a number of research analyst reports. The Goldman Sachs Group set a $41.00 price target on shares of Figure Technology Solutions in a report on Wednesday, October 7th. Sanford C. Bernstein upped their target price on shares of Figure Technology Solutions from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Zacks Research raised Figure Technology Solutions from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 17th. Keefe, Bruyette & Woods lowered their price target on Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th. Finally, Freedom Capital upgraded Figure Technology Solutions to a “strong-buy” rating in a research report on Thursday, October 15th. Four research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $53.57.

Figure Technology Solutions Price Performance

The stock has a market capitalization of $4.31 billion and a PE ratio of 24.94. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.86 and a quick ratio of 1.86. The firm’s 50 day simple moving average is $32.40 and its 200 day simple moving average is $32.16.

Figure Technology Solutions (NASDAQ:FIGR) last released its earnings results on Thursday, August 13th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.24 by $0.11. Figure Technology Solutions had a net margin of 33.45% and a return on equity of 18.90%. The company had revenue of $218.45 million for the quarter. As a group, equities analysts forecast that Figure Technology Solutions, Inc. will post 1.18 EPS for the current fiscal year.

Insider Transactions at Figure Technology Solutions

In related news, CFO Minchung Kgil sold 8,000 shares of the stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $38.69, for a total transaction of $309,520.00. Following the completion of the sale, the chief financial officer directly owned 483,651 shares in the company, valued at $18,712,457.19. This represents a 1.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Stevens sold 47,650 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $31.38, for a total value of $1,495,257.00. Following the transaction, the insider owned 376,599 shares in the company, valued at approximately $11,817,676.62. The trade was a 11.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 59,650 shares of company stock valued at $1,924,897. 26.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. WPG Advisers LLC raised its holdings in Figure Technology Solutions by 71.1% in the 1st quarter. WPG Advisers LLC now owns 934 shares of the company’s stock worth $32,000 after purchasing an additional 388 shares in the last quarter. State of Wyoming lifted its position in shares of Figure Technology Solutions by 14.8% in the 1st quarter. State of Wyoming now owns 3,864 shares of the company’s stock worth $131,000 after purchasing an additional 498 shares during the period. Arcus Capital Partners LLC boosted its stake in shares of Figure Technology Solutions by 7.9% during the 1st quarter. Arcus Capital Partners LLC now owns 7,400 shares of the company’s stock valued at $251,000 after purchasing an additional 541 shares in the last quarter. HB Wealth Management LLC boosted its stake in shares of Figure Technology Solutions by 4.5% during the 2nd quarter. HB Wealth Management LLC now owns 18,389 shares of the company’s stock valued at $565,000 after purchasing an additional 788 shares in the last quarter. Finally, Concurrent Investment Advisors LLC increased its position in shares of Figure Technology Solutions by 16.0% during the second quarter. Concurrent Investment Advisors LLC now owns 6,988 shares of the company’s stock valued at $215,000 after buying an additional 966 shares during the period.

Figure Technology Solutions Company Profile

Figure Technology Solutions, Inc is a financial technology company that develops technology-enabled lending and financial services products. The company uses artificial intelligence, blockchain and data-driven underwriting tools to streamline the origination, servicing and management of loans and other financial transactions.

Figure’s platform has supported products including home equity lines of credit, mortgage-related lending and personal loans. Its technology is designed to automate traditionally paper-intensive processes, improve transaction speed and provide digital tools for borrowers, lenders and other financial institutions.

Founded in 2018, Figure is headquartered in the United States and primarily serves the U.S.