FIGS (NYSE:FIGS) Trading Up 4.7%

FIGS, Inc. (NYSE:FIGS) was up 4.7% during mid-day trading on Wednesday . The stock traded as high as $4.66 and last traded at $4.65. Approximately 1,930,331 shares changed hands during mid-day trading, a decline of 47% from the average daily volume of 3,642,981 shares. The stock had previously closed at $4.44.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on FIGS shares. Oppenheimer lowered shares of FIGS from an “outperform” rating to a “market perform” rating in a research note on Friday, March 8th. Barclays reduced their price target on shares of FIGS from $7.00 to $5.00 and set an “equal weight” rating for the company in a research report on Friday, March 1st. The Goldman Sachs Group dropped their price objective on shares of FIGS from $4.85 to $4.25 and set a “sell” rating on the stock in a report on Tuesday, April 23rd. Roth Mkm dropped their price objective on shares of FIGS from $7.50 to $6.75 and set a “buy” rating on the stock in a report on Friday, May 10th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $6.00 price objective on shares of FIGS in a report on Thursday, June 13th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $5.30.

FIGS Price Performance

The stock has a market capitalization of $818.81 million, a PE ratio of 42.91, a P/E/G ratio of 59.20 and a beta of 1.42. The business’s fifty day moving average price is $5.16 and its 200-day moving average price is $5.65.

FIGS (NYSE:FIGS) last announced its earnings results on Thursday, May 9th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. The business had revenue of $119.29 million for the quarter, compared to the consensus estimate of $117.38 million. FIGS had a net margin of 4.07% and a return on equity of 6.12%. FIGS’s quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the firm posted $0.01 earnings per share. On average, analysts expect that FIGS, Inc. will post 0.03 earnings per share for the current fiscal year.

Insider Activity at FIGS

In other FIGS news, insider Heather L. Hasson sold 28,614 shares of the stock in a transaction that occurred on 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 directly owns 468,870 shares in the company, valued at $2,292,774.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 31,644 shares of company stock valued at $155,648 over the last three months. 22.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP bought a new position in shares of FIGS in the third quarter worth approximately $4,306,000. Bamco Inc. NY boosted its holdings in FIGS by 6.2% in the third quarter. Bamco Inc. NY now owns 25,032,830 shares of the company’s stock valued at $147,694,000 after acquiring an additional 1,470,706 shares in the last quarter. Eagle Asset Management Inc. bought a new stake in FIGS in the fourth quarter valued at $12,152,000. SG Americas Securities LLC boosted its holdings in FIGS by 64.3% in the fourth quarter. SG Americas Securities LLC now owns 49,467 shares of the company’s stock valued at $344,000 after acquiring an additional 19,353 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in FIGS by 4.6% in the third quarter. Vanguard Group Inc. now owns 12,278,070 shares of the company’s stock valued at $72,441,000 after acquiring an additional 538,251 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors.

About FIGS

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.