FIGS (NYSE:FIGS) CEO Catherine Eva Spear Sells 4,044,284 Shares of Stock

FIGS, Inc. (NYSE:FIGS) CEO Catherine Spear sold 4,044,284 shares of the firm’s stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $19.70, for a total transaction of $79,672,394.80. Following the completion of the sale, the chief executive officer owned 1,671,854 shares in the company, valued at $32,935,523.80. This represents a 70.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

FIGS Stock Up 8.8%

Shares of NYSE FIGS traded up $1.74 during midday trading on Monday, reaching $21.56. 5,325,137 shares of the company were exchanged, compared to its average volume of 4,549,606. The stock’s 50-day moving average price is $16.46 and its 200-day moving average price is $13.69. The stock has a market cap of $3.58 billion, a P/E ratio of 56.74 and a beta of 1.05. FIGS, Inc. has a one year low of $8.36 and a one year high of $22.46.

FIGS (NYSE:FIGS) last announced its quarterly earnings results on Thursday, November 5th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. FIGS had a return on equity of 12.53% and a net margin of 8.72%. The company had revenue of $190.69 million during the quarter, compared to analysts’ expectations of $182.82 million. During the same period in the prior year, the company earned $0.05 EPS. FIGS’s revenue was up 25.7% compared to the same quarter last year. On average, equities research analysts anticipate that FIGS, Inc. will post 0.34 EPS for the current year.

Wall Street Analyst Weigh In

FIGS has been the topic of a number of recent research reports. Telsey Advisory Group cut their price target on FIGS from $17.00 to $16.00 and set a “market perform” rating on the stock in a research note on Friday, August 7th. Barclays raised their price objective on shares of FIGS from $20.00 to $24.00 and gave the company an “overweight” rating in a report on Tuesday, November 3rd. KeyCorp lifted their target price on shares of FIGS from $20.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday. Roth Capital restated a “buy” rating on shares of FIGS in a research report on Friday, August 7th. Finally, Wall Street Zen lowered shares of FIGS from a “strong-buy” rating to a “buy” rating in a report on Saturday. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, FIGS presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.14.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FIGS. Arrowstreet Capital Limited Partnership increased its stake in FIGS by 167.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,070,258 shares of the company’s stock valued at $60,118,000 after purchasing an additional 2,546,905 shares in the last quarter. Dimensional Fund Advisors LP grew its position in FIGS by 7.8% during the first quarter. Dimensional Fund Advisors LP now owns 3,552,919 shares of the company’s stock valued at $52,472,000 after buying an additional 257,644 shares during the period. Jennison Associates LLC raised its holdings in shares of FIGS by 178.4% in the 1st quarter. Jennison Associates LLC now owns 1,401,214 shares of the company’s stock worth $20,696,000 after purchasing an additional 897,935 shares during the period. Wellington Management Group LLP purchased a new stake in FIGS in the second quarter worth $12,304,000. Finally, Bank of America Corp DE raised its stake in shares of FIGS by 190.3% in the first quarter. Bank of America Corp DE now owns 790,013 shares of the company’s stock valued at $11,668,000 after buying an additional 517,918 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

FIGS Company Profile

FIGS, Inc designs and sells apparel and accessories for healthcare professionals. Its products include scrubs, underscrubs, lab coats, outerwear, footwear, compression socks and other work-related accessories, with an emphasis on functional design and performance fabrics.

The company primarily sells through its e-commerce platform, serving healthcare workers in the United States and internationally. Its offerings are aimed at professionals across a range of medical roles and care settings.

FIGS was founded in 2013 by Heather Hasson and Trina Spear.