Rice Hall James & Associates LLC Has $6.40 Million Stock Position in FIGS, Inc. $FIGS

Rice Hall James & Associates LLC cut its stake in FIGS, Inc. (NYSE:FIGS) by 16.0% during the 1st quarter, HoldingsChannel.com reports. The fund owned 433,592 shares of the company’s stock after selling 82,424 shares during the period. Rice Hall James & Associates LLC’s holdings in FIGS were worth $6,404,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in FIGS. Elevated Capital Advisors LLC acquired a new position in shares of FIGS in the 4th quarter worth approximately $45,000. Quarry LP boosted its stake in shares of FIGS by 1,876.3% in the 3rd quarter. Quarry LP now owns 7,846 shares of the company’s stock valued at $52,000 after purchasing an additional 7,449 shares during the last quarter. Hudson Bay Capital Management LP acquired a new stake in shares of FIGS during the second quarter worth $61,000. Walleye Capital LLC acquired a new stake in shares of FIGS during the second quarter worth $65,000. Finally, Kemnay Advisory Services Inc. bought a new position in FIGS during the fourth quarter worth $69,000. Institutional investors own 92.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on FIGS shares. KeyCorp restated an “overweight” rating on shares of FIGS in a report on Tuesday, June 23rd. BTIG Research reiterated a “buy” rating and set a $20.00 price target on shares of FIGS in a report on Friday, April 24th. Morgan Stanley lifted their price objective on FIGS from $8.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Monday, April 13th. Weiss Ratings downgraded FIGS from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. Finally, Zacks Research lowered FIGS from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, FIGS currently has an average rating of “Moderate Buy” and a consensus price target of $15.93.

FIGS Stock Up 2.9%

NYSE:FIGS opened at $9.51 on Friday. The company has a fifty day moving average of $11.16 and a 200-day moving average of $12.57. The firm has a market capitalization of $1.59 billion, a P/E ratio of 43.22 and a beta of 1.01. FIGS, Inc. has a twelve month low of $6.07 and a twelve month high of $17.48.

FIGS (NYSE:FIGS) last issued its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.02. The business 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 firm’s quarterly revenue was up 28.0% on a year-over-year basis. On average, analysts anticipate that FIGS, Inc. will post 0.26 EPS for the current fiscal year.

Insider Activity

In other news, CFO Sarah Oughtred sold 23,597 shares of the firm’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 $338,145.01. Following the completion of the sale, the chief financial officer directly owned 1,129,791 shares in the company, valued at $16,189,905.03. This trade represents a 2.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Heather L. Hasson sold 32,385 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $14.33, for a total value of $464,077.05. Following the completion of the sale, the chairman owned 1,433,807 shares of the company’s stock, valued at approximately $20,546,454.31. This represents a 2.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 27.06% of the stock is currently owned by corporate insiders.

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.