FIGS (NYSE:FIGS) Shares Gap Down Following Insider Selling

FIGS, Inc. (NYSE:FIGS) shares gapped down prior to trading on Friday following insider selling activity. The stock had previously closed at $5.62, but opened at $5.39. FIGS shares last traded at $5.71, with a volume of 1,268,233 shares traded.

Specifically, insider Heather L. Hasson sold 28,614 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $4.89, for a total transaction of $139,922.46. Following the transaction, the insider now owns 468,870 shares of the company’s stock, valued at approximately $2,292,774.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Heather L. Hasson sold 28,614 shares of FIGS stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $4.89, for a total value of $139,922.46. Following the completion of the sale, the insider now directly owns 468,870 shares in the company, valued at approximately $2,292,774.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Daniella Turenshine sold 15,762 shares of FIGS stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $5.54, for a total transaction of $87,321.48. Following the completion of the sale, the chief financial officer now owns 409,858 shares of the company’s stock, valued at $2,270,613.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,200 shares of company stock worth $237,349. 22.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on FIGS shares. Telsey Advisory Group reaffirmed a “market perform” rating and set a $6.00 target price on shares of FIGS in a report on Friday. Oppenheimer cut shares of FIGS from an “outperform” rating to a “market perform” rating in a research note on Friday, March 8th. Bank of America reaffirmed an “underperform” rating and set a $4.50 target price (down previously from $8.50) on shares of FIGS in a research note on Tuesday, April 2nd. Barclays lowered their price target on shares of FIGS from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Friday, March 1st. Finally, The Goldman Sachs Group decreased their target price on shares of FIGS from $4.85 to $4.25 and set a “sell” rating on the stock in a research report on Tuesday, April 23rd. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat.com, FIGS has a consensus rating of “Hold” and a consensus target price of $4.94.

FIGS Price Performance

The stock’s 50 day moving average is $5.02 and its two-hundred day moving average is $5.95. The stock has a market capitalization of $937.90 million, a PE ratio of 47.28, a price-to-earnings-growth ratio of 19.95 and a beta of 1.41.

FIGS (NYSE:FIGS) last released its earnings results on Thursday, May 9th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. FIGS had a net margin of 4.15% and a return on equity of 6.72%. The firm had revenue of $119.29 million for the quarter, compared to analyst estimates of $117.38 million. During the same period in the prior year, the firm earned $0.01 earnings per share. The business’s quarterly revenue was down .8% compared to the same quarter last year. On average, equities analysts predict that FIGS, Inc. will post 0.05 earnings per share for the current year.

Institutional Trading of FIGS

A number of large investors have recently made changes to their positions in the company. Banque Cantonale Vaudoise boosted its holdings in FIGS by 50.0% in the first quarter. Banque Cantonale Vaudoise now owns 6,000 shares of the company’s stock valued at $30,000 after purchasing an additional 2,000 shares in the last quarter. Octavia Wealth Advisors LLC acquired a new stake in shares of FIGS in the fourth quarter valued at approximately $75,000. International Assets Investment Management LLC acquired a new stake in shares of FIGS in the fourth quarter valued at approximately $76,000. Janney Montgomery Scott LLC acquired a new stake in shares of FIGS in the third quarter valued at approximately $78,000. Finally, Counterpoint Mutual Funds LLC acquired a new stake in shares of FIGS in the fourth quarter valued at approximately $90,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

FIGS Company Profile

FIGS, Inc operates as a direct-to-consumer healthcare apparel and lifestyle company in the United States and internationally. It designs and sells healthcare apparel and scrubwear and non-scrubwear offerings, such as outerwear, underscrubs, footwear, compression socks, lab coats, loungewear, and other apparel.