Arizona State Retirement System lifted its position in shares of FIGS, Inc. (NYSE:FIGS – Get Rating) by 152.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,498 shares of the company’s stock after acquiring an additional 12,364 shares during the period. Arizona State Retirement System’s holdings in FIGS were worth $441,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently made changes to their positions in FIGS. Aviva PLC bought a new stake in FIGS in the 4th quarter worth approximately $2,268,000. Maryland State Retirement & Pension System bought a new stake in FIGS in the 4th quarter worth approximately $209,000. Shell Asset Management Co. bought a new stake in FIGS in the 4th quarter worth approximately $160,000. Alliancebernstein L.P. grew its position in FIGS by 49.0% in the 4th quarter. Alliancebernstein L.P. now owns 2,842,597 shares of the company’s stock worth $78,342,000 after purchasing an additional 934,714 shares during the period. Finally, Penserra Capital Management LLC bought a new stake in FIGS in the 4th quarter worth approximately $8,714,000. Institutional investors own 70.56% of the company’s stock.
Wall Street Analyst Weigh In
FIGS has been the subject of a number of research analyst reports. Oppenheimer cut their target price on shares of FIGS from $45.00 to $22.00 and set a “na” rating for the company in a research report on Monday, May 16th. Truist Financial started coverage on shares of FIGS in a research report on Thursday, April 7th. They issued a “buy” rating and a $32.00 target price for the company. The Goldman Sachs Group cut shares of FIGS from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $14.00 to $7.00 in a research note on Thursday, July 21st. KeyCorp initiated coverage on shares of FIGS in a research note on Thursday, July 21st. They set a “sector weight” rating on the stock. Finally, Credit Suisse Group lowered their target price on shares of FIGS from $26.00 to $15.00 and set an “outperform” rating on the stock in a research note on Friday, May 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $20.54.
FIGS Trading Up 4.1 %
FIGS (NYSE:FIGS – Get Rating) last issued its quarterly earnings results on Thursday, May 12th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $110.10 million for the quarter, compared to the consensus estimate of $117.33 million. FIGS had a negative net margin of 2.73% and a negative return on equity of 1.96%. The business’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.07 earnings per share. As a group, equities analysts forecast that FIGS, Inc. will post 0.15 EPS for the current fiscal year.
FIGS, Inc operates as a direct-to-consumer healthcare apparel and lifestyle company in the United States. It designs and sells healthcare apparel and other non-scrub offerings, such as lab coats, under scrubs, outerwear, activewear, loungewear, compression socks footwear, and masks. It also offers sports bras, performance leggings, tops, super-soft pima cotton tops, vests, and jackets.
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