FIGS (NYSE:FIGS) CEO Sells $565,972.92 in Stock

FIGS, Inc. (NYSE:FIGS) CEO Catherine Eva Spear sold 49,734 shares of the company’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $11.38, for a total value of $565,972.92. Following the completion of the sale, the chief executive officer owned 1,857,299 shares of the company’s stock, valued at $21,136,062.62. This represents a 2.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

FIGS Trading Down 0.0%

Shares of FIGS opened at $11.80 on Friday. The stock has a market cap of $1.94 billion, a P/E ratio of 117.95 and a beta of 1.30. FIGS, Inc. has a 1 year low of $3.57 and a 1 year high of $12.48. The stock’s 50-day moving average price is $10.57 and its two-hundred day moving average price is $8.11.

FIGS (NYSE:FIGS) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. FIGS had a return on equity of 4.50% and a net margin of 3.03%.The company had revenue of $151.66 million during the quarter, compared to analysts’ expectations of $142.39 million. During the same period in the prior year, the business posted ($0.01) EPS. FIGS’s revenue was up 8.2% on a year-over-year basis. As a group, equities analysts forecast that FIGS, Inc. will post 0.01 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FIGS. Telsey Advisory Group reissued a “market perform” rating and issued a $9.00 price target (up previously from $7.00) on shares of FIGS in a report on Monday, November 3rd. Morgan Stanley boosted their target price on FIGS from $5.25 to $7.50 and gave the company an “equal weight” rating in a research note on Wednesday, November 19th. BTIG Research increased their price target on FIGS from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of FIGS in a research report on Monday, December 29th. Finally, Wall Street Zen lowered FIGS from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 13th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $9.60.

Institutional Trading of FIGS

Several hedge funds and other institutional investors have recently modified their holdings of FIGS. Bamco Inc. NY lifted its holdings in shares of FIGS by 2.2% in the second quarter. Bamco Inc. NY now owns 59,974,407 shares of the company’s stock valued at $338,256,000 after purchasing an additional 1,302,823 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of FIGS by 2,139.7% during the second quarter. BNP Paribas Financial Markets now owns 1,307,468 shares of the company’s stock worth $7,374,000 after buying an additional 1,249,091 shares in the last quarter. Ameriprise Financial Inc. raised its position in FIGS by 9.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 13,936,468 shares of the company’s stock valued at $78,602,000 after buying an additional 1,144,962 shares during the last quarter. Squarepoint Ops LLC lifted its stake in FIGS by 940.7% in the 2nd quarter. Squarepoint Ops LLC now owns 924,092 shares of the company’s stock valued at $5,212,000 after acquiring an additional 835,300 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new position in FIGS during the 1st quarter worth approximately $3,727,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

FIGS Company Profile

FIGS, Inc operates as a direct-to-consumer designer and retailer of medical apparel and accessories. The company offers a range of products tailored to the needs of healthcare professionals, including scrub sets, lab coats, tops, bottoms, outerwear, footwear, and performance fabrics designed for comfort, durability, and antimicrobial protection. Through its e-commerce platform and a growing network of retail stores, FIGS provides customizable uniforms and accessories with a focus on innovative materials and functional design features such as four-way stretch fabrics, moisture-wicking technology, and multiple secure pockets.

Founded in 2013 by Heather Hasson and Trina Spear, FIGS set out to disrupt the traditional medical uniform market by emphasizing both form and function.