Insider Selling: FIGS (NYSE:FIGS) CFO Sells $156,991.68 in Stock

FIGS, Inc. (NYSE:FIGS) CFO Sarah Oughtred sold 10,872 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $14.44, for a total transaction of $156,991.68. Following the sale, the chief financial officer directly owned 1,153,388 shares of the company’s stock, valued at approximately $16,654,922.72. The trade was a 0.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Sarah Oughtred also recently made the following trade(s):

• On Thursday, February 5th, Sarah Oughtred sold 22,690 shares of FIGS stock. The stock was sold at an average price of $10.56, for a total transaction of $239,606.40.
• On Wednesday, January 7th, Sarah Oughtred sold 10,515 shares of FIGS stock. The stock was sold at an average price of $11.50, for a total transaction of $120,922.50.

FIGS Trading Up 8.4%

NYSE FIGS opened at $14.63 on Thursday. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 77.02 and a beta of 1.20. The company has a 50 day moving average of $13.35 and a 200-day moving average of $10.97. FIGS, Inc. has a 1-year low of $3.57 and a 1-year high of $17.48.

FIGS (NYSE:FIGS) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.08. The company had revenue of $201.90 million during the quarter, compared to analyst estimates of $165.33 million. FIGS had a net margin of 5.43% and a return on equity of 8.41%. The company’s revenue was up 33.0% on a year-over-year basis. During the same quarter last year, the business posted $0.01 earnings per share. On average, analysts forecast that FIGS, Inc. will post 0.01 earnings per share for the current year.

Analyst Ratings Changes

FIGS has been the subject of several recent analyst reports. KeyCorp raised shares of FIGS from a “sector weight” rating to an “overweight” rating and set a $17.00 price objective for the company in a report on Friday, February 27th. Wolfe Research raised shares of FIGS to a “buy” rating in a report on Wednesday, December 10th. Barclays raised shares of FIGS from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. Wall Street Zen raised shares of FIGS from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 28th. Finally, The Goldman Sachs Group raised shares of FIGS from a “strong sell” rating to a “hold” rating in a report on Friday, February 27th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, FIGS has a consensus rating of “Moderate Buy” and an average target price of $13.93.

Institutional Trading of FIGS

A number of hedge funds and other institutional investors have recently modified their holdings of FIGS. Assetmark Inc. acquired a new stake in shares of FIGS in the third quarter valued at approximately $35,000. Elevated Capital Advisors LLC acquired a new stake in shares of FIGS in the fourth quarter valued at approximately $45,000. Quarry LP increased its holdings in shares of FIGS by 1,876.3% in the third quarter. Quarry LP now owns 7,846 shares of the company’s stock valued at $52,000 after purchasing an additional 7,449 shares in the last quarter. Hudson Bay Capital Management LP acquired a new stake in shares of FIGS in the second quarter valued at approximately $61,000. Finally, Walleye Capital LLC acquired a new stake in shares of FIGS in the second quarter valued at approximately $65,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

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.