Figure Technology Solutions (NASDAQ:FIGR) Stock Price Expected to Rise, Bank of America Analyst Says

Figure Technology Solutions (NASDAQ:FIGR) had its price target boosted by Bank of America from $41.00 to $47.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Bank of America‘s price target would indicate a potential upside of 16.80% from the company’s previous close.

A number of other brokerages have also recently weighed in on FIGR. Wall Street Zen upgraded Figure Technology Solutions to a “hold” rating in a research note on Monday, September 22nd. Piper Sandler started coverage on shares of Figure Technology Solutions in a research report on Monday, October 6th. They issued an “overweight” rating and a $50.00 price target for the company. Jefferies Financial Group initiated coverage on shares of Figure Technology Solutions in a research report on Monday, October 6th. They set a “hold” rating and a $40.00 price objective on the stock. Zacks Research raised shares of Figure Technology Solutions to a “hold” rating in a report on Tuesday, October 7th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $51.00 target price on shares of Figure Technology Solutions in a research note on Monday. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Figure Technology Solutions currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.31.

Figure Technology Solutions Price Performance

Shares of FIGR opened at $40.24 on Monday. Figure Technology Solutions has a 1-year low of $30.01 and a 1-year high of $49.50.

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 firm had revenue of $156.03 million for the quarter.

Insiders Place Their Bets

In other Figure Technology Solutions news, CEO Michael Benjamin Tannenbaum sold 297,171 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer owned 4,092,576 shares in the company, valued at approximately $102,314,400. This represents a 6.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 completion of 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 SEC filing for this sale provides additional information.

Institutional Trading of Figure Technology Solutions

Institutional investors have recently modified their holdings of the business. Voya Investment Management LLC purchased a new position in Figure Technology Solutions in the third quarter worth $721,000. Exchange Traded Concepts LLC purchased a new stake in shares of Figure Technology Solutions during the 3rd quarter worth $5,963,000. Blue Trust Inc. acquired a new position in shares of Figure Technology Solutions during the 3rd quarter worth $64,000. Hennessy Advisors Inc. purchased a new position in shares of Figure Technology Solutions in the 3rd quarter valued at about $255,000. Finally, CWA Asset Management Group LLC acquired a new stake in shares of Figure Technology Solutions in the third quarter valued at about $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.