Black Creek Investment Management Inc. Sells 238,730 Shares of FIGS, Inc. $FIGS

Black Creek Investment Management Inc. trimmed its holdings in FIGS, Inc. (NYSE:FIGS) by 16.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,195,961 shares of the company’s stock after selling 238,730 shares during the quarter. FIGS comprises about 0.7% of Black Creek Investment Management Inc.’s investment portfolio, making the stock its 19th biggest holding. Black Creek Investment Management Inc. owned about 0.73% of FIGS worth $13,586,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. FourThought Financial Partners LLC increased its stake in shares of FIGS by 3.6% in the 4th quarter. FourThought Financial Partners LLC now owns 32,851 shares of the company’s stock worth $373,000 after acquiring an additional 1,138 shares in the last quarter. GSA Capital Partners LLP increased its stake in FIGS by 4.2% during the 3rd quarter. GSA Capital Partners LLP now owns 52,045 shares of the company’s stock valued at $348,000 after purchasing an additional 2,083 shares in the last quarter. Corient Private Wealth LLC increased its stake in FIGS by 0.8% during the 2nd quarter. Corient Private Wealth LLC now owns 332,938 shares of the company’s stock valued at $1,878,000 after purchasing an additional 2,612 shares in the last quarter. Creative Planning increased its stake in FIGS by 4.9% during the 3rd quarter. Creative Planning now owns 68,932 shares of the company’s stock valued at $461,000 after purchasing an additional 3,192 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in FIGS by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 77,219 shares of the company’s stock valued at $354,000 after purchasing an additional 3,276 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on FIGS shares. BTIG Research restated a “buy” rating and set a $20.00 price objective on shares of FIGS in a research note on Friday, April 24th. Zacks Research lowered shares of FIGS from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 8th. Barclays upgraded shares of FIGS from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. Morgan Stanley raised their price objective on shares of FIGS from $8.00 to $15.00 and gave the company an “equal weight” rating in a research note on Monday, April 13th. Finally, Oppenheimer upgraded shares of FIGS from a “market perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research note on Friday, March 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, FIGS currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.93.

FIGS Stock Up 6.0%

Shares of NYSE FIGS opened at $11.96 on Friday. The firm’s 50-day moving average price is $13.42 and its 200-day moving average price is $12.70. The company has a market cap of $2.00 billion, a PE ratio of 54.37 and a beta of 1.04. FIGS, Inc. has a 52-week low of $4.98 and a 52-week high of $17.48.

FIGS (NYSE:FIGS) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.02. FIGS had a net margin of 6.10% and a return on equity of 9.69%. The business had revenue of $159.90 million for the quarter, compared to the consensus estimate of $153.15 million. The business’s quarterly revenue was up 28.0% compared to the same quarter last year. As a group, equities research analysts anticipate that FIGS, Inc. will post 0.25 EPS for the current fiscal year.

Insider Buying and Selling at FIGS

In other news, CEO Catherine Eva Spear sold 62,335 shares of FIGS stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $14.44, for a total transaction of $900,117.40. Following the sale, the chief executive officer owned 1,794,964 shares in the company, valued at $25,919,280.16. This trade represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Heather L. Hasson sold 32,385 shares of FIGS stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $14.33, for a total transaction of $464,077.05. Following the sale, the chairman owned 1,433,807 shares in the company, valued at approximately $20,546,454.31. The trade was a 2.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 129,189 shares of company stock valued at $1,859,331 over the last 90 days. 27.06% of the stock is currently owned by corporate insiders.

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.