FIGS (NYSE:FIGS) Trading Down 7.5% – Time to Sell?

FIGS, Inc. (NYSE:FIGS)’s share price fell 7.5% during mid-day trading on Monday . The company traded as low as $11.41 and last traded at $11.3890. Approximately 1,091,549 shares traded hands during trading, a decline of 67% from the average session volume of 3,335,454 shares. The stock had previously closed at $12.31.

Analyst Ratings Changes

Several equities analysts have recently commented on FIGS shares. KeyCorp boosted their target price on shares of FIGS to $19.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. The Goldman Sachs Group upgraded shares of FIGS from a “strong sell” rating to a “hold” rating in a research report on Friday, February 27th. Weiss Ratings cut shares of FIGS from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. Zacks Research downgraded shares of FIGS from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 8th. Finally, Morgan Stanley raised their target price on FIGS from $8.00 to $15.00 and gave the company an “equal weight” rating in a report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, FIGS has a consensus rating of “Moderate Buy” and an average price target of $15.93.

FIGS Trading Down 9.4%

The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 50.80 and a beta of 1.04. The stock’s 50-day moving average is $13.24 and its 200-day moving average is $12.80.

FIGS (NYSE:FIGS) last issued its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $159.90 million for the quarter, compared to analyst estimates of $153.15 million. FIGS had a net margin of 6.10% and a return on equity of 9.69%. The company’s quarterly revenue was up 28.0% compared to the same quarter last year. On average, equities research analysts anticipate that FIGS, Inc. will post 0.25 EPS for the current fiscal year.

Insider Activity at FIGS

In related news, CFO Sarah Oughtred sold 23,597 shares of the business’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $14.33, for a total transaction of $338,145.01. Following the sale, the chief financial officer owned 1,129,791 shares in the company, valued at $16,189,905.03. The trade was a 2.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Heather L. Hasson sold 32,385 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $14.33, for a total value of $464,077.05. Following the completion of the transaction, the chairman directly owned 1,433,807 shares of the company’s stock, valued at approximately $20,546,454.31. The trade was a 2.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 129,189 shares of company stock valued at $1,859,331 in the last 90 days. 27.06% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FIGS. UBS Group AG boosted its position in FIGS by 45.2% during the 4th quarter. UBS Group AG now owns 277,151 shares of the company’s stock worth $3,148,000 after buying an additional 86,268 shares during the period. Jennison Associates LLC bought a new position in shares of FIGS during the fourth quarter valued at $5,717,000. Vanguard Group Inc. lifted its holdings in shares of FIGS by 4.6% during the third quarter. Vanguard Group Inc. now owns 9,609,320 shares of the company’s stock worth $64,286,000 after purchasing an additional 425,189 shares during the period. Western Standard LLC bought a new stake in shares of FIGS in the third quarter worth $1,863,000. Finally, Quantbot Technologies LP grew its stake in shares of FIGS by 92.8% in the third quarter. Quantbot Technologies LP now owns 212,103 shares of the company’s stock worth $1,419,000 after purchasing an additional 102,092 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

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.