FIGS, Inc. $FIGS Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. boosted its holdings in FIGS, Inc. (NYSE:FIGS) by 4.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,609,320 shares of the company’s stock after buying an additional 425,189 shares during the period. Vanguard Group Inc. owned 0.06% of FIGS worth $64,286,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Assetmark Inc. acquired a new position in shares of FIGS during the 3rd quarter valued at about $35,000. Capstone Financial Advisors Inc. purchased a new position in shares of FIGS during the 2nd quarter worth about $56,000. Hudson Bay Capital Management LP acquired a new stake in shares of FIGS in the second quarter worth approximately $61,000. Walleye Capital LLC purchased a new stake in FIGS in the second quarter valued at approximately $65,000. Finally, Prudential Financial Inc. purchased a new stake in FIGS in the second quarter valued at approximately $70,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

FIGS Stock Performance

NYSE FIGS opened at $16.39 on Friday. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of 86.27 and a beta of 1.22. FIGS, Inc. has a one year low of $3.57 and a one year high of $17.48. The company’s 50 day moving average price is $11.89 and its 200 day moving average price is $9.70.

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

Insider Activity at FIGS

In related news, CEO Catherine Eva Spear sold 49,734 shares of the company’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $11.38, for a total transaction of $565,972.92. Following the completion of the sale, the chief executive officer directly owned 1,857,299 shares of the company’s stock, valued at approximately $21,136,062.62. This represents a 2.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sarah Oughtred sold 22,690 shares of the stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $10.56, for a total value of $239,606.40. Following the completion of the sale, the chief financial officer 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. In the last 90 days, insiders have sold 662,140 shares of company stock worth $10,542,161. 29.44% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Morgan Stanley increased their price target on shares of FIGS from $7.50 to $8.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 13th. Barclays raised shares of FIGS from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. Wolfe Research upgraded FIGS to a “buy” rating in a report on Wednesday, December 10th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of FIGS in a research report on Monday, December 29th. Finally, BTIG Research reiterated a “buy” rating and issued a $15.00 target price on shares of FIGS in a report on Friday, February 27th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently 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.