FIGS, Inc. $FIGS Position Reduced by Applied Fundamental Research LLC

Applied Fundamental Research LLC cut its holdings in FIGS, Inc. (NYSE:FIGS) by 20.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,274,818 shares of the company’s stock after selling 317,962 shares during the period. FIGS makes up 8.3% of Applied Fundamental Research LLC’s portfolio, making the stock its 8th largest position. Applied Fundamental Research LLC’s holdings in FIGS were worth $8,529,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Campbell & CO Investment Adviser LLC increased its holdings in shares of FIGS by 49.8% in the third quarter. Campbell & CO Investment Adviser LLC now owns 24,425 shares of the company’s stock worth $163,000 after buying an additional 8,122 shares during the period. SG Americas Securities LLC grew its position in FIGS by 120.7% during the 3rd quarter. SG Americas Securities LLC now owns 47,767 shares of the company’s stock worth $320,000 after acquiring an additional 26,120 shares during the last quarter. CWM LLC grew its position in FIGS by 1,137.4% during the 3rd quarter. CWM LLC now owns 19,229 shares of the company’s stock worth $129,000 after acquiring an additional 17,675 shares during the last quarter. Net Worth Advisory Group purchased a new position in FIGS in the 3rd quarter worth approximately $270,000. Finally, Squarepoint Ops LLC lifted its position in FIGS by 940.7% in the second quarter. Squarepoint Ops LLC now owns 924,092 shares of the company’s stock valued at $5,212,000 after purchasing an additional 835,300 shares during the last quarter. 92.21% of the stock is owned by institutional investors.

FIGS Stock Performance

FIGS stock opened at $11.57 on Thursday. FIGS, Inc. has a fifty-two week low of $3.57 and a fifty-two week high of $12.50. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 115.65 and a beta of 1.30. The business’s 50 day moving average price is $11.14 and its two-hundred day moving average price is $8.46.

FIGS (NYSE:FIGS) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.03. The company had revenue of $151.66 million for the quarter, compared to analyst estimates of $142.39 million. FIGS had a return on equity of 4.50% and a net margin of 3.03%.The firm’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.01) earnings per share. Sell-side analysts forecast that FIGS, Inc. will post 0.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on FIGS shares. Wall Street Zen raised FIGS from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 17th. Telsey Advisory Group reiterated a “market perform” rating and set a $9.00 price target (up from $7.00) on shares of FIGS in a report on Monday, November 3rd. The Goldman Sachs Group raised their price target on shares of FIGS from $5.00 to $5.50 and gave the stock a “sell” rating in a report on Friday, November 7th. Morgan Stanley boosted their price objective on shares of FIGS from $7.50 to $8.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 13th. Finally, Zacks Research raised shares of FIGS from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $9.70.

Insider Transactions at FIGS

In other news, insider Heather L. Hasson sold 23,356 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $7.39, for a total value of $172,600.84. Following the sale, the insider directly owned 1,274,841 shares of the company’s stock, valued at $9,421,074.99. This represents a 1.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Catherine Eva Spear sold 49,734 shares of FIGS stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $11.38, for a total transaction of $565,972.92. Following the transaction, the chief executive officer directly owned 1,857,299 shares of the company’s stock, valued at approximately $21,136,062.62. This trade represents a 2.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 106,350 shares of company stock valued at $1,027,582 in the last three months. 29.44% of the stock is currently owned by company insiders.

FIGS 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.