Figure Technology Solutions (NASDAQ:FIGR) Stock Price Target Cut by Keefe, Bruyette & Woods

Figure Technology Solutions (NASDAQ:FIGR) had its price objective lowered by analysts at Keefe, Bruyette & Woods from $45.00 to $37.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods‘s price target suggests a potential upside of 57.32% from the stock’s previous close.

Several other analysts have also recently weighed in on FIGR. Zacks Research raised Figure Technology Solutions from a “hold” rating to a “strong-buy” rating in a report on Monday, August 17th. Bank of America reaffirmed a “neutral” rating and issued a $44.00 target price on shares of Figure Technology Solutions in a research note on Monday, October 5th. Weiss Ratings lowered shares of Figure Technology Solutions from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, September 11th. The Goldman Sachs Group set a $41.00 price objective on shares of Figure Technology Solutions in a research note on Wednesday, October 7th. Finally, Freedom Capital raised shares of Figure Technology Solutions to a “strong-buy” rating in a research note on Thursday, October 15th. Four research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Figure Technology Solutions has an average rating of “Buy” and an average target price of $52.43.

Figure Technology Solutions Trading Up 3.5%

Shares of FIGR stock traded up $0.79 on Monday, reaching $23.52. 1,877,566 shares of the stock were exchanged, compared to its average volume of 4,671,273. The stock has a market cap of $4.37 billion, a PE ratio of 25.36, a P/E/G ratio of 0.34 and a beta of 0.94. Figure Technology Solutions has a one year low of $19.54 and a one year high of $78.00. 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 stock has a 50 day moving average price of $29.39 and a 200 day moving average price of $33.44.

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

Insider Activity

In other news, CFO Minchung Kgil sold 8,000 shares of the business’s 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 transaction, the chief financial officer directly owned 483,651 shares in the company, valued at approximately $18,712,457.19. The trade was a 1.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Stevens sold 47,650 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $31.38, for a total value of $1,495,257.00. Following the completion of the sale, the insider directly owned 376,599 shares of the company’s stock, valued at approximately $11,817,676.62. This trade represents a 11.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 59,650 shares of company stock worth $1,924,897 in the last three months. Insiders own 26.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Integrated Wealth Concepts LLC bought a new position in Figure Technology Solutions during the 2nd quarter worth approximately $47,000. WPG Advisers LLC increased its stake in Figure Technology Solutions by 98.5% in the third quarter. WPG Advisers LLC now owns 1,640 shares of the company’s stock valued at $47,000 after purchasing an additional 814 shares in the last quarter. GAMMA Investing LLC increased its stake in Figure Technology Solutions by 176.6% in the third quarter. GAMMA Investing LLC now owns 1,690 shares of the company’s stock valued at $49,000 after purchasing an additional 1,079 shares in the last quarter. SBI Securities Co. Ltd. raised its holdings in Figure Technology Solutions by 157.4% in the third quarter. SBI Securities Co. Ltd. now owns 1,974 shares of the company’s stock worth $57,000 after purchasing an additional 1,207 shares during the period. Finally, State of Wyoming raised its holdings in Figure Technology Solutions by 14.8% in the first 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.

About Figure Technology Solutions

Figure Technology Solutions is a financial technology company that develops blockchain-based platforms for lending and capital markets. Its technology is designed to digitize and streamline financial transactions, including loan origination and the trading of financial assets.

The company’s offerings include home equity financing and technology for financial institutions and other lending partners. Figure also operates digital marketplaces and provides services supporting the issuance and transfer of assets on the Provenance Blockchain.

Founded in 2018 by entrepreneur Mike Cagney, Figure is based in the United States and serves consumers and financial services businesses.