Figure Technology Solutions (NASDAQ:FIGR) Stock Price Up 12.4% – Here’s Why

Figure Technology Solutions, Inc. (NASDAQ:FIGR) shares rose 12.4% during trading on Monday . The company traded as high as $49.20 and last traded at $49.17. Approximately 987,947 shares were traded during trading, a decline of 4% from the average daily volume of 1,026,483 shares. The stock had previously closed at $43.74.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Needham & Company LLC reissued a “buy” rating and issued a $51.00 price target on shares of Figure Technology Solutions in a research report on Monday, November 17th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Figure Technology Solutions in a report on Monday, December 29th. Keefe, Bruyette & Woods lifted their target price on shares of Figure Technology Solutions from $48.50 to $52.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 18th. Wall Street Zen raised Figure Technology Solutions to a “hold” rating in a report on Monday, September 22nd. Finally, Bank of America lifted their price target on Figure Technology Solutions from $41.00 to $47.00 and gave the stock a “neutral” rating in a report on Monday, November 17th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.38.

Figure Technology Solutions Price Performance

The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 0.17. The firm’s 50-day moving average is $39.37.

Figure Technology Solutions (NASDAQ:FIGR) last released its quarterly earnings data on Thursday, November 13th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.18. The business had revenue of $156.03 million during the quarter.

Insider Buying and Selling

In related news, CEO Michael Benjamin Tannenbaum sold 908,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $39.19, for a total transaction of $35,584,520.00. Following the sale, the chief executive officer owned 3,921,366 shares of the company’s stock, valued at approximately $153,678,333.54. This represents a 18.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director June Ou sold 500,000 shares of the stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $36.22, for a total transaction of $18,110,000.00. Following the completion of the sale, the director owned 6,378,993 shares in the company, valued at $231,047,126.46. This represents a 7.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 3,344,073 shares of company stock worth $123,816,526 over the last quarter.

Institutional Trading of Figure Technology Solutions

Several institutional investors and hedge funds have recently modified their holdings of FIGR. Blue Trust Inc. purchased a new stake in shares of Figure Technology Solutions during the 3rd quarter valued at $64,000. SBI Securities Co. Ltd. purchased a new position in shares of Figure Technology Solutions in the 3rd quarter worth about $66,000. PNC Financial Services Group Inc. bought a new position in shares of Figure Technology Solutions during the 3rd quarter valued at about $73,000. BNP Paribas Financial Markets bought a new stake in Figure Technology Solutions in the 3rd quarter worth approximately $102,000. Finally, Ameritas Advisory Services LLC purchased a new stake in Figure Technology Solutions in the third quarter worth approximately $200,000.

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.