Figure Technology Solutions, Inc. (NASDAQ:FIGR) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Figure Technology Solutions, Inc. (NASDAQ:FIGR) has been given an average recommendation of “Moderate Buy” by the eleven research firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, five have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $53.6250.

A number of research analysts have recently weighed in on the company. Zacks Research upgraded Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 14th. Sanford C. Bernstein cut their price objective on Figure Technology Solutions from $72.00 to $67.00 and set an “outperform” rating for the company in a research report on Monday, March 30th. Weiss Ratings upgraded Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 4th. Keefe, Bruyette & Woods upgraded Figure Technology Solutions from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, February 19th. Finally, Bank of America cut their price objective on Figure Technology Solutions from $34.00 to $31.00 in a research report on Thursday, April 2nd.

Figure Technology Solutions Stock Performance

NASDAQ FIGR opened at $27.93 on Friday. The firm has a market cap of $5.10 billion and a price-to-earnings ratio of 48.16. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average price of $34.50 and a 200-day moving average price of $39.49. Figure Technology Solutions has a twelve month low of $25.01 and a twelve month high of $78.00.

Figure Technology Solutions (NASDAQ:FIGR) last released its quarterly earnings data on Monday, May 11th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $166.84 million during the quarter. As a group, equities research analysts predict that Figure Technology Solutions will post 0.94 EPS for the current fiscal year.

Figure Technology Solutions declared that its Board of Directors has authorized a share buyback plan on Thursday, February 26th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to reacquire up to 3.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, insider David Todd Stevens sold 49,708 shares of the firm’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $32.02, for a total transaction of $1,591,650.16. Following the completion of the transaction, the insider owned 436,089 shares in the company, valued at $13,963,569.78. This trade represents a 10.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director June Ou sold 67,840 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $35.19, for a total value of $2,387,289.60. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 511,928 shares of company stock valued at $17,997,776. 26.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC purchased a new position in Figure Technology Solutions in the fourth quarter worth about $25,000. Strs Ohio purchased a new position in Figure Technology Solutions in the fourth quarter worth about $34,000. MetLife Investment Management LLC purchased a new position in Figure Technology Solutions in the fourth quarter worth about $35,000. WPG Advisers LLC grew its position in Figure Technology Solutions by 71.1% in the first quarter. WPG Advisers LLC now owns 934 shares of the company’s stock worth $32,000 after acquiring an additional 388 shares in the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new position in Figure Technology Solutions in the fourth quarter worth about $40,000.

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.