Octavia Wealth Advisors LLC Purchases New Position in FIGS, Inc. (NYSE:FIGS)

Octavia Wealth Advisors LLC purchased a new stake in shares of FIGS, Inc. (NYSE:FIGS) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 10,778 shares of the company’s stock, valued at approximately $75,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ameriprise Financial Inc. grew its holdings in FIGS by 121.1% in the third quarter. Ameriprise Financial Inc. now owns 5,079,980 shares of the company’s stock worth $29,972,000 after purchasing an additional 2,782,340 shares during the period. Bamco Inc. NY grew its holdings in FIGS by 6.2% in the third quarter. Bamco Inc. NY now owns 25,032,830 shares of the company’s stock worth $147,694,000 after purchasing an additional 1,470,706 shares during the period. State Street Corp grew its holdings in FIGS by 78.2% in the second quarter. State Street Corp now owns 2,614,302 shares of the company’s stock worth $23,816,000 after purchasing an additional 1,146,907 shares during the period. T. Rowe Price Investment Management Inc. grew its holdings in FIGS by 27.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,141,192 shares of the company’s stock worth $34,601,000 after purchasing an additional 1,097,083 shares during the period. Finally, Soros Fund Management LLC grew its holdings in FIGS by 60.7% in the first quarter. Soros Fund Management LLC now owns 2,896,215 shares of the company’s stock worth $62,327,000 after purchasing an additional 1,094,393 shares during the period. Hedge funds and other institutional investors own 92.21% of the company’s stock.

FIGS Stock Up 1.3 %

NYSE:FIGS opened at $4.72 on Thursday. The stock has a market cap of $801.98 million, a price-to-earnings ratio of 42.91, a PEG ratio of 15.05 and a beta of 1.48. The company’s 50 day moving average price is $5.38 and its 200-day moving average price is $6.09. FIGS, Inc. has a 52 week low of $4.37 and a 52 week high of $8.84.

FIGS (NYSE:FIGS) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The company had revenue of $144.90 million for the quarter, compared to the consensus estimate of $149.09 million. FIGS had a net margin of 4.15% and a return on equity of 6.72%. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.05 earnings per share. As a group, sell-side analysts anticipate that FIGS, Inc. will post 0.06 earnings per share for the current year.

Insider Activity at FIGS

In related news, CFO Daniella Turenshine sold 4,201 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $6.00, for a total transaction of $25,206.00. Following the transaction, the chief financial officer now owns 425,620 shares in the company, valued at $2,553,720. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other FIGS news, CFO Daniella Turenshine sold 4,201 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $6.00, for a total value of $25,206.00. Following the transaction, the chief financial officer now directly owns 425,620 shares in the company, valued at $2,553,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Heather L. Hasson sold 27,547 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $5.93, for a total transaction of $163,353.71. Following the completion of the transaction, the insider now owns 499,308 shares in the company, valued at $2,960,896.44. The disclosure for this sale can be found here. Insiders have sold a total of 49,334 shares of company stock worth $285,986 over the last quarter. Company insiders own 21.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FIGS. The Goldman Sachs Group cut their price objective on shares of FIGS from $6.75 to $4.85 and set a “sell” rating on the stock in a report on Thursday, February 29th. Telsey Advisory Group cut shares of FIGS from an “outperform” rating to a “market perform” rating and cut their price target for the company from $11.00 to $6.00 in a report on Thursday, February 29th. Oppenheimer cut shares of FIGS from an “outperform” rating to a “market perform” rating in a report on Friday, March 8th. Barclays cut their price target on shares of FIGS from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Friday, March 1st. Finally, Bank of America reiterated an “underperform” rating and set a $4.50 price target (down previously from $8.50) on shares of FIGS in a report on Tuesday, April 2nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, FIGS presently has a consensus rating of “Hold” and a consensus target price of $5.87.

About FIGS

FIGS, Inc operates as a direct-to-consumer healthcare apparel and lifestyle company in the United States and internationally. It designs and sells healthcare apparel and scrubwear and non-scrubwear offerings, such as outerwear, underscrubs, footwear, compression socks, lab coats, loungewear, and other apparel.