Figure Technology Solutions (NASDAQ:FIGR) Trading 8% Higher – Here’s Why

Figure Technology Solutions, Inc. (NASDAQ:FIGR)’s stock price was up 8% during trading on Thursday . The stock traded as high as $40.69 and last traded at $40.27. Approximately 451,013 shares were traded during trading, a decline of 85% from the average daily volume of 2,980,693 shares. The stock had previously closed at $37.29.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on FIGR shares. Mizuho upped their price objective on shares of Figure Technology Solutions from $47.00 to $56.00 and gave the stock an “outperform” rating in a report on Monday, November 17th. Piper Sandler upped their price target on Figure Technology Solutions from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, November 17th. Sanford C. Bernstein started coverage on Figure Technology Solutions in a research note on Monday, October 6th. They set an “outperform” rating and a $54.00 price objective for the company. Keefe, Bruyette & Woods boosted their target price on Figure Technology Solutions from $48.50 to $52.00 and gave the stock an “outperform” rating in a report on Tuesday, November 18th. Finally, Jefferies Financial Group initiated coverage on Figure Technology Solutions in a report on Monday, October 6th. They set a “hold” rating and a $40.00 price target for the company. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $50.38.

Figure Technology Solutions Stock Performance

The company’s fifty day moving average is $39.06.

Figure Technology Solutions (NASDAQ:FIGR) last posted its earnings results on Thursday, November 13th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.18. The company had revenue of $156.03 million during the quarter.

Insider Transactions at Figure Technology Solutions

In other Figure Technology Solutions news, CFO Minchung Kgil sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $35.09, for a total value of $3,509,000.00. Following the transaction, the chief financial officer directly owned 617,149 shares of the company’s stock, valued at approximately $21,655,758.41. This trade represents a 13.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael Benjamin Tannenbaum sold 908,000 shares of the business’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $39.19, for a total value 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 3,344,073 shares of company stock worth $123,816,526 in the last ninety days.

Institutional Investors Weigh In On Figure Technology Solutions

A number of hedge funds have recently modified their holdings of the business. Voya Investment Management LLC bought a new position in 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 during the third quarter worth $5,963,000. Blue Trust Inc. purchased a new position in Figure Technology Solutions during the third quarter valued at $64,000. Hennessy Advisors Inc. purchased a new position in Figure Technology Solutions during the third quarter valued at $255,000. Finally, CWA Asset Management Group LLC bought a new stake in Figure Technology Solutions in the 3rd quarter valued at $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.