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

FIGS, Inc. (NYSE:FIGS) insider Heather Hasson sold 556,327 shares of the stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $16.85, for a total value of $9,374,109.95. Following the sale, the insider owned 1,251,967 shares in the company, valued at approximately $21,095,643.95. This trade represents a 30.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

FIGS Price Performance

NYSE:FIGS opened at $16.90 on Wednesday. The firm has a market cap of $2.78 billion, a PE ratio of 88.95 and a beta of 1.22. The firm has a 50 day simple moving average of $11.59 and a 200-day simple moving average of $9.53. FIGS, Inc. has a 1-year low of $3.57 and a 1-year high of $17.40.

FIGS (NYSE:FIGS) last released its earnings results 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 firm had revenue of $201.90 million for the quarter, compared to the consensus estimate of $165.33 million. FIGS had a return on equity of 8.41% and a net margin of 5.43%.The firm’s revenue for the quarter was up 33.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.01 earnings per share. As a group, sell-side analysts expect that FIGS, Inc. will post 0.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Bamco Inc. NY increased its position in FIGS by 2.2% in the second quarter. Bamco Inc. NY now owns 59,974,407 shares of the company’s stock worth $338,256,000 after buying an additional 1,302,823 shares during the period. Ameriprise Financial Inc. grew its position in shares of FIGS by 9.0% during the second quarter. Ameriprise Financial Inc. now owns 13,936,468 shares of the company’s stock worth $78,602,000 after acquiring an additional 1,144,962 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of FIGS by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 9,609,320 shares of the company’s stock worth $64,286,000 after acquiring an additional 425,189 shares during the period. Dimensional Fund Advisors LP lifted its position in FIGS by 1.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,417,008 shares of the company’s stock valued at $29,549,000 after purchasing an additional 70,660 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in FIGS by 66.2% during the 4th quarter. Marshall Wace LLP now owns 4,297,868 shares of the company’s stock valued at $48,824,000 after purchasing an additional 1,712,610 shares during the period. 92.21% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

FIGS has been the subject of a number of analyst reports. Zacks Research upgraded FIGS from a “hold” rating to a “strong-buy” rating in a report on Friday, November 7th. KeyCorp upgraded shares of FIGS from a “sector weight” rating to an “overweight” rating and set a $17.00 target price for the company in a research note on Friday, February 27th. Morgan Stanley raised their price target on shares of FIGS from $7.50 to $8.00 and gave the company an “equal weight” rating in a report on Tuesday, January 13th. Wall Street Zen upgraded shares of FIGS from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, The Goldman Sachs Group upgraded FIGS from a “strong sell” rating to a “hold” rating in a research note on Friday, February 27th. Two equities research 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $12.25.

FIGS Company 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.