FIGS Target of Unusually High Options Trading (NYSE:FIGS)

FIGS, Inc. (NYSE:FIGS) saw some unusual options trading activity on Friday. Traders acquired 22,254 call options on the company. This represents an increase of 1,938% compared to the typical daily volume of 1,092 call options.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on FIGS shares. Morgan Stanley increased their price target on FIGS from $8.00 to $15.00 and gave the company an “equal weight” rating in a research note on Monday, April 13th. KeyCorp restated an “overweight” rating on shares of FIGS in a research report on Tuesday, June 23rd. BTIG Research reaffirmed a “buy” rating and issued a $20.00 target price on shares of FIGS in a report on Friday, April 24th. Weiss Ratings downgraded FIGS from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. Finally, Zacks Research lowered FIGS from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, FIGS currently has an average rating of “Moderate Buy” and a consensus target price of $15.93.

FIGS Stock Performance

Shares of NYSE:FIGS opened at $10.28 on Friday. FIGS has a 52 week low of $5.84 and a 52 week high of $17.48. The firm has a market cap of $1.72 billion, a PE ratio of 46.75 and a beta of 1.01. The firm’s fifty day moving average is $11.37 and its 200-day moving average is $12.62.

FIGS (NYSE:FIGS) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The business had revenue of $159.90 million during the quarter, compared to the consensus estimate of $153.15 million. FIGS had a return on equity of 9.69% and a net margin of 6.10%.FIGS’s revenue was up 28.0% compared to the same quarter last year. Sell-side analysts forecast that FIGS will post 0.26 EPS for the current year.

Insider Buying and Selling

In related news, 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 directly owned 1,433,807 shares of the company’s stock, valued at approximately $20,546,454.31. The trade was a 2.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Sarah Oughtred sold 23,597 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $14.33, for a total transaction of $338,145.01. Following the transaction, the chief financial officer owned 1,129,791 shares of the company’s stock, valued at approximately $16,189,905.03. This represents a 2.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 27.06% of the company’s stock.

Institutional Investors Weigh In On FIGS

Institutional investors and hedge funds have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership raised its holdings in FIGS by 167.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,070,258 shares of the company’s stock worth $60,118,000 after purchasing an additional 2,546,905 shares during the last quarter. Marshall Wace LLP lifted its position in shares of FIGS by 66.2% in the 4th quarter. Marshall Wace LLP now owns 4,297,868 shares of the company’s stock worth $48,824,000 after purchasing an additional 1,712,610 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of FIGS by 2,139.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,307,468 shares of the company’s stock valued at $7,374,000 after purchasing an additional 1,249,091 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of 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 purchasing an additional 1,144,962 shares during the last quarter. Finally, Jennison Associates LLC increased its position in shares of FIGS by 178.4% during the first quarter. Jennison Associates LLC now owns 1,401,214 shares of the company’s stock worth $20,696,000 after buying an additional 897,935 shares during the period. 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.