Hsbc Holdings PLC Sells 4,267 Shares of FIGS, Inc. $FIGS

Hsbc Holdings PLC decreased its holdings in shares of FIGS, Inc. (NYSE:FIGS) by 22.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,015 shares of the company’s stock after selling 4,267 shares during the quarter. Hsbc Holdings PLC’s holdings in FIGS were worth $68,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Quantbot Technologies LP raised its holdings in FIGS by 5,447.7% during the 1st quarter. Quantbot Technologies LP now owns 69,457 shares of the company’s stock valued at $319,000 after acquiring an additional 68,205 shares during the period. Russell Investments Group Ltd. bought a new stake in FIGS during the 1st quarter valued at $334,000. Nuveen LLC bought a new stake in FIGS during the 1st quarter valued at $958,000. Invesco Ltd. raised its holdings in FIGS by 16.5% during the 1st quarter. Invesco Ltd. now owns 169,755 shares of the company’s stock valued at $779,000 after acquiring an additional 24,021 shares during the period. Finally, Fayez Sarofim & Co bought a new stake in FIGS during the 1st quarter valued at $230,000. Institutional investors own 92.21% of the company’s stock.

Insider Buying and Selling at FIGS

In related news, CEO Catherine Eva Spear sold 65,866 shares of the company’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $6.88, for a total value of $453,158.08. Following the completion of the transaction, the chief executive officer directly owned 1,969,246 shares in the company, valued at approximately $13,548,412.48. The trade was a 3.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sarah Oughtred sold 99,834 shares of the company’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $6.19, for a total transaction of $617,972.46. Following the completion of the transaction, the chief financial officer owned 878,058 shares of the company’s stock, valued at $5,435,179.02. This trade represents a 10.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. 29.44% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

FIGS has been the topic of a number of analyst reports. Barclays reissued a “positive” rating on shares of FIGS in a report on Tuesday, May 13th. The Goldman Sachs Group boosted their target price on shares of FIGS from $3.75 to $4.50 and gave the company a “sell” rating in a report on Tuesday, July 22nd. Morgan Stanley boosted their price target on shares of FIGS from $4.25 to $5.00 and gave the company an “equal weight” rating in a research report on Monday, July 21st. Wall Street Zen lowered shares of FIGS from a “strong-buy” rating to a “buy” rating in a research report on Friday. Finally, Telsey Advisory Group restated a “market perform” rating and set a $7.00 price target (up from $5.00) on shares of FIGS in a research report on Monday, August 4th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, FIGS currently has a consensus rating of “Hold” and a consensus price target of $5.38.

FIGS Price Performance

FIGS opened at $6.91 on Monday. The company has a fifty day moving average price of $6.44 and a 200-day moving average price of $5.28. The firm has a market capitalization of $1.13 billion, a P/E ratio of 172.67, a price-to-earnings-growth ratio of 4.42 and a beta of 1.34. FIGS, Inc. has a one year low of $3.57 and a one year high of $7.31.

FIGS (NYSE:FIGS) last announced its earnings results on Thursday, August 7th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.02. FIGS had a net margin of 1.26% and a return on equity of 1.84%. The company had revenue of $152.64 million during the quarter, compared to analyst estimates of $144.17 million. During the same period in the previous year, the business earned $0.01 earnings per share. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, analysts expect that FIGS, Inc. will post 0.01 earnings per share for the current year.

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.