Figure Technology Solutions (NASDAQ:FIGR) Hits New 12-Month Low – Time to Sell?

Figure Technology Solutions, Inc. (NASDAQ:FIGR) hit a new 52-week low during mid-day trading on Thursday. The company traded as low as $20.41 and last traded at $19.7820, with a volume of 1,775,575 shares trading hands. The stock had previously closed at $23.02.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Weiss Ratings cut Figure Technology Solutions from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, September 11th. Sanford C. Bernstein raised their target price on shares of Figure Technology Solutions from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Wall Street Zen upgraded shares of Figure Technology Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Bank of America reissued a “neutral” rating and issued a $44.00 price objective on shares of Figure Technology Solutions in a research note on Monday, October 5th. Finally, The Goldman Sachs Group set a $41.00 target price on shares of Figure Technology Solutions in a research report on Wednesday, October 7th. Four research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Figure Technology Solutions currently has an average rating of “Buy” and an average price target of $53.57.

Figure Technology Solutions Trading Up 8.8%

The stock has a market cap of $4.22 billion, a P/E ratio of 24.44, a P/E/G ratio of 0.33 and a beta of 0.94. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average price of $29.39 and a two-hundred day moving average price of $33.44.

Figure Technology Solutions (NASDAQ:FIGR) last released its earnings results on Thursday, August 13th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.11. The firm 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%. On average, research analysts expect that Figure Technology Solutions, Inc. will post 1.18 EPS for the current fiscal year.

Insider Transactions at Figure Technology Solutions

In other Figure Technology Solutions news, insider David Stevens sold 47,650 shares of the firm’s stock in a transaction on 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 transaction, the insider 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Minchung Kgil sold 8,000 shares of Figure Technology Solutions stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $38.69, for a total value of $309,520.00. Following the sale, the chief financial officer directly owned 483,651 shares of the company’s stock, valued at $18,712,457.19. This trade represents a 1.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 59,650 shares of company stock valued at $1,924,897. 26.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. WPG Advisers LLC boosted its holdings in Figure Technology Solutions by 71.1% in the 1st quarter. WPG Advisers LLC now owns 934 shares of the company’s stock worth $32,000 after buying an additional 388 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Figure Technology Solutions during the second quarter valued at approximately $47,000. GAMMA Investing LLC lifted its position in shares of 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 acquiring an additional 1,079 shares in the last quarter. SBI Securities Co. Ltd. lifted its position in shares of Figure Technology Solutions by 157.4% in the third quarter. SBI Securities Co. Ltd. now owns 1,974 shares of the company’s stock valued at $57,000 after acquiring an additional 1,207 shares in the last quarter. Finally, State of Wyoming boosted its stake in shares of 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 acquiring an additional 498 shares during the last quarter.

About Figure Technology Solutions

Figure Technology Solutions, Inc is a financial technology company that develops technology-enabled lending and financial services products. The company uses artificial intelligence, blockchain and data-driven underwriting tools to streamline the origination, servicing and management of loans and other financial transactions.

Figure’s platform has supported products including home equity lines of credit, mortgage-related lending and personal loans. Its technology is designed to automate traditionally paper-intensive processes, improve transaction speed and provide digital tools for borrowers, lenders and other financial institutions.

Founded in 2018, Figure is headquartered in the United States and primarily serves the U.S.