Wellington Management Group LLP Takes $12.30 Million Position in FIGS, Inc. $FIGS

Wellington Management Group LLP acquired a new position in shares of FIGS, Inc. (NYSE:FIGS) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,202,728 shares of the company’s stock, valued at approximately $12,304,000. Wellington Management Group LLP owned 0.72% of FIGS as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. FourThought Financial Partners LLC boosted its holdings in shares of FIGS by 3.6% during the 4th quarter. FourThought Financial Partners LLC now owns 32,851 shares of the company’s stock worth $373,000 after buying an additional 1,138 shares during the period. Corient Private Wealth LLC grew its stake in FIGS by 0.8% in the 2nd quarter. Corient Private Wealth LLC now owns 332,938 shares of the company’s stock valued at $1,878,000 after buying an additional 2,612 shares during the last quarter. Creative Planning raised its holdings in FIGS by 4.9% in the 3rd quarter. Creative Planning now owns 68,932 shares of the company’s stock worth $461,000 after acquiring an additional 3,192 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in FIGS by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 77,219 shares of the company’s stock worth $354,000 after acquiring an additional 3,276 shares during the period. Finally, Swiss National Bank lifted its position in FIGS by 2.2% during the 4th quarter. Swiss National Bank now owns 183,300 shares of the company’s stock worth $2,082,000 after acquiring an additional 3,900 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FIGS. Weiss Ratings raised FIGS from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, August 21st. Barclays raised their target price on FIGS from $17.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Roth Capital reaffirmed a “buy” rating on shares of FIGS in a research report on Friday, August 7th. KeyCorp upped their price target on FIGS from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Finally, BTIG Research increased their price objective on FIGS from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, FIGS currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.71.

FIGS Stock Up 0.1%

NYSE FIGS opened at $14.44 on Tuesday. FIGS, Inc. has a twelve month low of $6.50 and a twelve month high of $17.48. The stock has a market cap of $2.40 billion, a P/E ratio of 43.76 and a beta of 1.07. The company’s 50-day simple moving average is $12.20 and its 200 day simple moving average is $13.09.

FIGS (NYSE:FIGS) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.08. The firm had revenue of $196.62 million during the quarter, compared to analysts’ expectations of $186.17 million. FIGS had a net margin of 8.72% and a return on equity of 12.53%. The company’s revenue for the quarter was up 28.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.04 earnings per share. Research analysts anticipate that FIGS, Inc. will post 0.32 earnings per share for the current year.

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.