Quantbot Technologies LP Has $1.42 Million Holdings in FIGS, Inc. $FIGS

Quantbot Technologies LP increased its position in shares of FIGS, Inc. (NYSE:FIGS) by 92.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 212,103 shares of the company’s stock after acquiring an additional 102,092 shares during the quarter. Quantbot Technologies LP’s holdings in FIGS were worth $1,419,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Bamco Inc. NY raised its position in shares of FIGS by 2.2% in the 2nd quarter. Bamco Inc. NY now owns 59,974,407 shares of the company’s stock valued at $338,256,000 after buying an additional 1,302,823 shares in the last quarter. BNP Paribas Financial Markets raised its position in FIGS by 2,139.7% during the second quarter. BNP Paribas Financial Markets now owns 1,307,468 shares of the company’s stock valued at $7,374,000 after purchasing an additional 1,249,091 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in 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 purchasing an additional 1,144,962 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in shares of FIGS by 940.7% in the 2nd quarter. Squarepoint Ops LLC now owns 924,092 shares of the company’s stock valued at $5,212,000 after purchasing an additional 835,300 shares in the last quarter. Finally, Woodline Partners LP acquired a new stake in shares of FIGS in the 1st quarter valued at $3,199,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FIGS has been the subject of a number of research analyst reports. Wolfe Research raised FIGS to a “buy” rating in a report on Wednesday, December 10th. KeyCorp raised 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. Wall Street Zen raised shares of FIGS from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 28th. Morgan Stanley lifted 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. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of FIGS in a research report on Monday, December 29th. Two 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $12.25.

FIGS Trading Down 0.2%

Shares of FIGS stock opened at $16.94 on Friday. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of 89.16 and a beta of 1.22. The business’s 50-day moving average price is $11.80 and its 200-day moving average price is $9.63. FIGS, Inc. has a 12 month low of $3.57 and a 12 month high of $17.48.

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

Insider Activity

In related news, insider Heather L. Hasson sold 556,327 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $16.85, for a total value of $9,374,109.95. Following the completion of the sale, the insider directly owned 1,251,967 shares in the company, valued at $21,095,643.95. This represents a 30.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Sarah Oughtred sold 22,690 shares of the firm’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $10.56, for a total value of $239,606.40. Following the transaction, the chief financial officer directly owned 821,500 shares of the company’s stock, valued at approximately $8,675,040. This represents a 2.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 662,140 shares of company stock valued at $10,542,161. Insiders own 29.44% of the company’s stock.

FIGS 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.