Catherine Eva Spear Sells 49,734 Shares of FIGS (NYSE:FIGS) Stock

FIGS, Inc. (NYSE:FIGS) CEO Catherine Eva Spear sold 49,734 shares of the stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $11.38, for a total value of $565,972.92. Following the completion of the transaction, the chief executive officer directly owned 1,857,299 shares in the company, valued at $21,136,062.62. The trade was a 2.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

FIGS Stock Performance

FIGS traded down $0.21 during midday trading on Thursday, reaching $11.77. 2,350,768 shares of the company were exchanged, compared to its average volume of 1,947,864. The stock has a market capitalization of $1.94 billion, a P/E ratio of 117.70 and a beta of 1.30. FIGS, Inc. has a one year low of $3.57 and a one year high of $12.35. The stock’s 50-day simple moving average is $10.48 and its 200 day simple moving average is $8.05.

FIGS (NYSE:FIGS) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The business had revenue of $151.66 million for the quarter, compared to the consensus estimate of $142.39 million. FIGS had a net margin of 3.03% and a return on equity of 4.50%. FIGS’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the company posted ($0.01) EPS. On average, research analysts anticipate that FIGS, Inc. will post 0.01 earnings per share for the current year.

Institutional Investors Weigh In On FIGS

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bamco Inc. NY increased its position in shares of FIGS by 2.2% in the second quarter. Bamco Inc. NY now owns 59,974,407 shares of the company’s stock valued at $338,256,000 after acquiring an additional 1,302,823 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of FIGS by 2,139.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,307,468 shares of the company’s stock worth $7,374,000 after purchasing an additional 1,249,091 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of FIGS by 9.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 13,936,468 shares of the company’s stock worth $78,602,000 after purchasing an additional 1,144,962 shares during the last quarter. Squarepoint Ops LLC raised its stake in shares of FIGS by 940.7% during the 2nd quarter. Squarepoint Ops LLC now owns 924,092 shares of the company’s stock worth $5,212,000 after purchasing an additional 835,300 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of FIGS in the 1st quarter valued at approximately $3,727,000. 92.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on FIGS. Barclays boosted their target price on FIGS from $9.00 to $11.00 and gave the company an “equal weight” rating in a research note on Tuesday. The Goldman Sachs Group lifted their price objective on FIGS from $5.00 to $5.50 and gave the company a “sell” rating in a report on Friday, November 7th. Wolfe Research raised FIGS to a “buy” rating in a research note on Wednesday, December 10th. Zacks Research raised shares of FIGS from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 7th. Finally, Morgan Stanley upped their price target on shares of FIGS from $5.25 to $7.50 and gave the company an “equal weight” rating in a report on Wednesday, November 19th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $9.60.

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.