Numerai GP LLC Decreases Stock Holdings in FIGS, Inc. (NYSE:FIGS)

Numerai GP LLC trimmed its position in shares of FIGS, Inc. (NYSE:FIGS) by 97.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,536 shares of the company’s stock after selling 479,826 shares during the period. Numerai GP LLC’s holdings in FIGS were worth $90,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. MetLife Investment Management LLC bought a new position in shares of FIGS during the 1st quarter valued at approximately $51,000. Banque Cantonale Vaudoise bought a new position in shares of FIGS during the 4th quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC increased its position in shares of FIGS by 376.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,325 shares of the company’s stock valued at $27,000 after purchasing an additional 3,417 shares during the last quarter. Belpointe Asset Management LLC bought a new position in shares of FIGS during the 4th quarter valued at approximately $31,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of FIGS during the 1st quarter valued at approximately $101,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

FIGS Stock Performance

Shares of FIGS stock opened at $5.56 on Friday. The stock’s 50-day simple moving average is $6.97 and its 200-day simple moving average is $7.21. The firm has a market capitalization of $936.69 million, a PE ratio of 79.44, a P/E/G ratio of 3.99 and a beta of 1.43. FIGS, Inc. has a fifty-two week low of $5.55 and a fifty-two week high of $12.87.

FIGS (NYSE:FIGS) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $0.02 earnings per share for the quarter. The business had revenue of $138.13 million for the quarter, compared to analyst estimates of $133.07 million. FIGS had a return on equity of 6.17% and a net margin of 2.62%. The company’s revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.03 earnings per share. Sell-side analysts forecast that FIGS, Inc. will post 0.08 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Heather L. Hasson sold 73,714 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $6.20, for a total transaction of $457,026.80. Following the sale, the insider now directly owns 1,217,895 shares of the company’s stock, valued at $7,550,949. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other FIGS news, CFO Daniella Turenshine sold 12,661 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $6.20, for a total value of $78,498.20. Following the sale, the chief financial officer now directly owns 419,138 shares of the company’s stock, valued at $2,598,655.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Heather L. Hasson sold 73,714 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $6.20, for a total value of $457,026.80. Following the completion of the sale, the insider now directly owns 1,217,895 shares in the company, valued at $7,550,949. The disclosure for this sale can be found here. Insiders have sold a total of 511,404 shares of company stock valued at $3,985,331 over the last ninety days. Company insiders own 21.40% of the company’s stock.

Analysts Set New Price Targets

FIGS has been the topic of several research analyst reports. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $11.00 price objective on shares of FIGS in a research report on Friday, August 4th. Barclays upped their price objective on FIGS from $5.00 to $7.00 and gave the stock an “underweight” rating in a research note on Monday, August 7th. Finally, Raymond James cut FIGS from an “outperform” rating to a “market perform” rating in a research note on Monday, July 17th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, FIGS has a consensus rating of “Hold” and an average target price of $9.02.

About FIGS

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