Jefferies Financial Group Inc. Makes New $6.29 Million Investment in FIGS, Inc. $FIGS

Jefferies Financial Group Inc. purchased a new stake in shares of FIGS, Inc. (NYSE:FIGS) in the 3rd quarter, Holdings Channel reports. The fund purchased 453,557 shares of the company’s stock, valued at approximately $6,286,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC acquired a new position in shares of FIGS in the second quarter valued at $41,000. Sterling Capital Management LLC boosted its holdings in shares of FIGS by 848.2% during the 3rd quarter. Sterling Capital Management LLC now owns 3,167 shares of the company’s stock worth $44,000 after buying an additional 2,833 shares during the period. IFP Advisors Inc boosted its holdings in shares of FIGS by 120.2% during the 2nd quarter. IFP Advisors Inc now owns 4,389 shares of the company’s stock worth $45,000 after buying an additional 2,396 shares during the period. State of Alaska Department of Revenue acquired a new position in FIGS in the 3rd quarter valued at about $116,000. Finally, SBI Securities Co. Ltd. grew its stake in FIGS by 11,872.9% in the 3rd quarter. SBI Securities Co. Ltd. now owns 14,128 shares of the company’s stock valued at $196,000 after buying an additional 14,010 shares during the last quarter. 92.21% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CFO Sarah Oughtred sold 90,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $21.92, for a total transaction of $1,972,800.00. Following the transaction, the chief financial officer directly owned 954,007 shares of the company’s stock, valued at approximately $20,911,833.44. This trade represents a 8.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Catherine Spear sold 4,044,284 shares of FIGS stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $19.70, for a total transaction of $79,672,394.80. Following the completion of the sale, the chief executive officer owned 1,671,854 shares of the company’s stock, valued at approximately $32,935,523.80. The trade was a 70.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 27.06% of the company’s stock.

FIGS Stock Performance

FIGS stock opened at $22.73 on Friday. FIGS, Inc. has a 52 week low of $8.95 and a 52 week high of $23.76. The company has a market capitalization of $3.78 billion, a PE ratio of 59.81 and a beta of 1.05. The company’s 50-day simple moving average is $16.92 and its 200 day simple moving average is $13.86.

FIGS (NYSE:FIGS) last issued its quarterly earnings data on Thursday, November 5th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.03. FIGS had a net margin of 9.67% and a return on equity of 14.65%. The business had revenue of $190.69 million during the quarter, compared to analysts’ expectations of $182.82 million. During the same quarter in the previous year, the company earned $0.05 EPS. The business’s revenue was up 25.7% on a year-over-year basis. On average, analysts forecast that FIGS, Inc. will post 0.35 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FIGS. Cantor Fitzgerald assumed coverage on FIGS in a report on Tuesday. They set an “overweight” rating and a $25.00 price objective for the company. The Goldman Sachs Group reiterated a “neutral” rating and set a $16.00 target price on shares of FIGS in a research note on Friday, August 7th. Wall Street Zen cut FIGS from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 7th. Oppenheimer boosted their price target on FIGS from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Thursday, October 29th. Finally, Telsey Advisory Group decreased their price objective on FIGS from $17.00 to $16.00 and set a “market perform” rating on the stock in a report on Friday, August 7th. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.62.

FIGS Company Profile

FIGS, Inc. designs and sells apparel and accessories for healthcare professionals. Its products include scrubs, underscrubs, lab coats, outerwear, footwear, compression socks and other work-related accessories, with an emphasis on functional design and performance fabrics. The company primarily sells through its e-commerce platform, serving healthcare workers in the United States and internationally. Its offerings are aimed at professionals across a range of medical roles and care settings. FIGS was founded in 2013 by Heather Hasson and Trina Spear.