Figure Technology Solutions (NASDAQ:FIGR) Trading Down 5% – Here’s What Happened

by · The Cerbat Gem

Figure Technology Solutions, Inc. (NASDAQ:FIGR – Get Free Report)’s share price was down 5% on Tuesday . The stock traded as low as $42.96 and last traded at $42.96. Approximately 367,605 shares changed hands during trading, a decline of 88% from the average daily volume of 2,984,878 shares. The stock had previously closed at $45.21.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on FIGR shares. Bank of America increased their price target on Figure Technology Solutions from $41.00 to $47.00 and gave the company a “neutral” rating in a report on Monday, November 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $51.00 target price on shares of Figure Technology Solutions in a research report on Monday, November 17th. Weiss Ratings raised shares of Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, December 16th. Zacks Research upgraded shares of Figure Technology Solutions to a “hold” rating in a research note on Tuesday, October 7th. Finally, Jefferies Financial Group assumed coverage on shares of Figure Technology Solutions in a report on Monday, October 6th. They issued a “hold” rating and a $40.00 price target on the stock. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Figure Technology Solutions has a consensus rating of “Moderate Buy” and an average price target of $50.38.

View Our Latest Report on Figure Technology Solutions

Figure Technology Solutions Trading Down 2.3%

The stock has a 50 day moving average price of $38.91.

Figure Technology Solutions (NASDAQ:FIGR – Get Free Report) last issued its quarterly earnings data 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 for the quarter.

Insiders Place Their Bets

In other Figure Technology Solutions news, insider David Todd Stevens sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $35.22, for a total value of $1,408,800.00. Following the sale, the insider owned 489,000 shares in the company, valued at approximately $17,222,580. This trade represents a 7.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Scott Cagney sold 200,058 shares of Figure Technology Solutions stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $39.40, for a total value of $7,882,285.20. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 3,344,073 shares of company stock worth $123,816,526.

Institutional Trading of Figure Technology Solutions

Several large investors have recently added to or reduced their stakes in the business. Blue Trust Inc. acquired a new position in shares of Figure Technology Solutions during the third quarter valued at $64,000. SBI Securities Co. Ltd. acquired a new position in Figure Technology Solutions during the 3rd quarter valued at about $66,000. PNC Financial Services Group Inc. bought a new stake in shares of Figure Technology Solutions during the 3rd quarter worth about $73,000. BNP Paribas Financial Markets acquired a new stake in shares of Figure Technology Solutions in the 3rd quarter worth approximately $102,000. Finally, Ameritas Advisory Services LLC bought a new position in shares of Figure Technology Solutions in the third quarter valued at approximately $200,000.

Figure Technology Solutions Company Profile

(Get Free Report)

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.

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