Figure Technology Solutions (NASDAQ:FIGR) Shares Up 8% – Here’s What Happened

by · The Markets Daily

Shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR – Get Free Report) rose 8% during mid-day trading on Thursday . The stock traded as high as $40.69 and last traded at $40.27. Approximately 451,013 shares traded hands during trading, a decline of 85% from the average daily volume of 2,980,693 shares. The stock had previously closed at $37.29.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on FIGR shares. Piper Sandler upped their target price on Figure Technology Solutions from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, November 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $51.00 price objective on shares of Figure Technology Solutions in a research report on Monday, November 17th. Mizuho raised their target price on shares of Figure Technology Solutions from $47.00 to $56.00 and gave the company an “outperform” rating in a report on Monday, November 17th. Wall Street Zen raised shares of Figure Technology Solutions to a “hold” rating in a report on Monday, September 22nd. Finally, Sanford C. Bernstein initiated coverage on shares of Figure Technology Solutions in a research note on Monday, October 6th. They issued an “outperform” rating and a $54.00 price objective on the stock. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $50.38.

Get Our Latest Stock Report on Figure Technology Solutions

Figure Technology Solutions Stock Up 6.6%

The stock has a 50 day moving average price of $39.06.

Figure Technology Solutions (NASDAQ:FIGR – Get Free Report) last announced its earnings results on Thursday, November 13th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.16 by $0.18. The company had revenue of $156.03 million for the quarter.

Insider Activity

In other news, CFO Minchung Kgil sold 100,000 shares of Figure Technology Solutions stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $35.09, for a total transaction of $3,509,000.00. Following the completion of the sale, the chief financial officer owned 617,149 shares in the company, valued at approximately $21,655,758.41. This trade represents a 13.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael Scott Cagney sold 500,000 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $36.22, for a total transaction of $18,110,000.00. Following the completion of the transaction, the director owned 6,378,993 shares in the company, valued at approximately $231,047,126.46. This trade represents a 7.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,344,073 shares of company stock worth $123,816,526 in the last three months.

Institutional Inflows and Outflows

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

About Figure Technology Solutions

(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.

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