FIGS (NYSE:FIGS) Insider Sells 556,327 Shares

FIGS, Inc. (NYSE:FIGS) insider Heather Hasson sold 556,327 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $16.85, for a total transaction of $9,374,109.95. Following the transaction, the insider owned 1,251,967 shares of the company’s stock, valued at $21,095,643.95. This trade represents a 30.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

FIGS Trading Down 1.3%

Shares of NYSE:FIGS traded down $0.22 on Tuesday, hitting $16.90. The company had a trading volume of 5,208,890 shares, compared to its average volume of 3,538,359. The company has a market cap of $2.78 billion, a PE ratio of 88.95 and a beta of 1.29. FIGS, Inc. has a 52-week low of $3.57 and a 52-week high of $17.40. The business has a 50 day moving average of $11.49 and a 200 day moving average of $9.46.

FIGS (NYSE:FIGS) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.08. FIGS had a return on equity of 8.41% and a net margin of 5.43%.The company had revenue of $201.90 million for the quarter, compared to analyst estimates of $165.33 million. During the same quarter in the prior year, the company posted $0.01 EPS. The business’s revenue for the quarter was up 33.0% compared to the same quarter last year. As a group, equities analysts predict that FIGS, Inc. will post 0.01 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FIGS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of FIGS by 4.4% during the first 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. Woodline Partners LP bought a new stake in shares of FIGS during the 1st quarter valued at $3,199,000. Y Intercept Hong Kong Ltd bought a new stake in FIGS during the second quarter worth about $141,000. Malaga Cove Capital LLC boosted its stake in FIGS by 10.1% during the second quarter. Malaga Cove Capital LLC now owns 374,673 shares of the company’s stock worth $2,113,000 after acquiring an additional 34,235 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in FIGS in the second quarter worth about $100,000. 92.21% of the stock is owned by institutional investors.

Analyst Ratings Changes

FIGS has been the topic of several research reports. Zacks Research upgraded shares of FIGS from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 7th. KeyCorp upgraded FIGS from a “sector weight” rating to an “overweight” rating and set a $17.00 price target on the stock in a research report on Friday. Barclays upgraded FIGS from a “hold” rating to a “strong-buy” rating in a research report on Friday. BTIG Research reaffirmed a “buy” rating and issued a $15.00 target price on shares of FIGS in a research report on Friday. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of FIGS in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $12.25.

About FIGS

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.