Castleark Management LLC Buys Shares of 199,010 FIGS, Inc. $FIGS

Castleark Management LLC bought a new position in shares of FIGS, Inc. (NYSE:FIGS) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 199,010 shares of the company’s stock, valued at approximately $2,939,000.

A number of other institutional investors have also recently bought and sold shares of FIGS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings 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 worth $354,000 after purchasing an additional 3,276 shares in the last quarter. Woodline Partners LP acquired a new position in shares of FIGS during the first quarter worth about $3,199,000. Creative Planning grew its holdings in shares of FIGS by 181.3% during the second quarter. Creative Planning now owns 65,740 shares of the company’s stock worth $371,000 after buying an additional 42,367 shares in the last quarter. Prudential Financial Inc. acquired a new stake in shares of FIGS in the second quarter valued at approximately $70,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of FIGS by 102.4% in the second quarter. Russell Investments Group Ltd. now owns 147,440 shares of the company’s stock valued at $832,000 after purchasing an additional 74,578 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FIGS. Weiss Ratings lowered shares of FIGS from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. Zacks Research cut FIGS from a “strong-buy” rating to a “hold” rating in a report on Friday, May 8th. BTIG Research reaffirmed a “buy” rating and issued a $20.00 target price on shares of FIGS in a research report on Friday, April 24th. KeyCorp reiterated an “overweight” rating on shares of FIGS in a report on Tuesday, June 23rd. Finally, 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 report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $15.93.

FIGS Stock Up 4.7%

Shares of NYSE FIGS opened at $9.96 on Tuesday. The business’s 50 day moving average price is $11.13 and its two-hundred day moving average price is $12.56. The company has a market cap of $1.66 billion, a PE ratio of 45.28 and a beta of 1.01. FIGS, Inc. has a twelve month low of $6.07 and a twelve month high of $17.48.

FIGS (NYSE:FIGS) last issued its earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02. The company 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 quarterly revenue was up 28.0% compared to the same quarter last year. As a group, research analysts anticipate that FIGS, Inc. will post 0.26 EPS for the current fiscal year.

Insider Transactions at FIGS

In other news, CFO Sarah Oughtred sold 23,597 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $14.33, for a total transaction of $338,145.01. Following the completion of the sale, the chief financial officer owned 1,129,791 shares in the company, valued at approximately $16,189,905.03. This trade represents a 2.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 dated Monday, May 4th. The stock was 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 $20,546,454.31. The trade was a 2.21% 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. Company insiders own 27.06% of the company’s stock.

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.