Figure Technology Solutions, Inc.’s (NASDAQ:FIGR) Quiet Period Will Expire on October 21st

Figure Technology Solutions’ (NASDAQ:FIGR) quiet period is set to end on Tuesday, October 21st. Figure Technology Solutions had issued 31,500,000 shares in its IPO on September 11th. The total size of the offering was $787,500,000 based on an initial share price of $25.00. During Figure Technology Solutions’ quiet period, insiders and underwriters involved in the IPO are prevented from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FIGR. Piper Sandler began coverage on shares of Figure Technology Solutions in a research note on Monday, October 6th. They set an “overweight” rating and a $50.00 price objective for the company. Mizuho began coverage on shares of Figure Technology Solutions in a research note on Monday, October 6th. They set an “outperform” rating and a $47.00 price objective for the company. Needham & Company LLC began coverage on shares of Figure Technology Solutions in a research note on Monday, October 6th. They set a “buy” rating and a $51.00 price objective for the company. Zacks Research raised shares of Figure Technology Solutions to a “hold” rating in a research note on Tuesday, October 7th. Finally, Jefferies Financial Group began coverage on shares of Figure Technology Solutions in a research note on Monday, October 6th. They set a “hold” rating and a $40.00 price objective for the company. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $47.44.

Figure Technology Solutions Stock Up 0.2%

FIGR opened at $44.62 on Thursday. Figure Technology Solutions has a 1 year low of $30.01 and a 1 year high of $49.50.

Insider Buying and Selling

In other Figure Technology Solutions news, Director Adam Gilbert Boyden sold 468,860 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $25.00, for a total value of $11,721,500.00. Following the completion of the transaction, the director owned 6,651,158 shares in the company, valued at $166,278,950. This represents a 6.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Benjamin Tannenbaum sold 297,171 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $25.00, for a total value of $7,429,275.00. Following the completion of the transaction, the chief executive officer owned 4,092,576 shares of the company’s stock, valued at approximately $102,314,400. This represents a 6.77% decrease in their position. The disclosure for this sale can be found here.

Hedge Funds Weigh In On Figure Technology Solutions

A hedge fund recently bought a new stake in Figure Technology Solutions stock. Exchange Traded Concepts LLC bought a new stake in shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 163,965 shares of the company’s stock, valued at approximately $5,963,000. Exchange Traded Concepts LLC owned about 0.08% of Figure Technology Solutions at the end of the most recent quarter.

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.