Goldman Sachs Group Inc. Decreases Position in FIGS, Inc. $FIGS

Goldman Sachs Group Inc. trimmed its holdings in FIGS, Inc. (NYSE:FIGS) by 31.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 635,118 shares of the company’s stock after selling 292,202 shares during the quarter. Goldman Sachs Group Inc. owned about 0.39% of FIGS worth $2,915,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Strs Ohio acquired a new position in shares of FIGS during the first quarter worth $460,000. Woodline Partners LP acquired a new position in shares of FIGS in the 1st quarter valued at $3,199,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in FIGS by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 77,219 shares of the company’s stock worth $354,000 after buying an additional 3,276 shares during the period. Jacobs Levy Equity Management Inc. bought a new stake in shares of FIGS in the 1st quarter worth about $3,727,000. Finally, Vident Advisory LLC boosted its stake in FIGS by 298.6% during the 1st quarter. Vident Advisory LLC now owns 65,010 shares of the company’s stock valued at $298,000 after purchasing an additional 48,701 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on FIGS shares. Cowen restated a “hold” rating on shares of FIGS in a report on Friday, August 8th. Morgan Stanley raised their target price on shares of FIGS from $4.25 to $5.00 and gave the stock an “equal weight” rating in a report on Monday, July 21st. Telsey Advisory Group reaffirmed a “market perform” rating and set a $7.00 price objective (up from $5.00) on shares of FIGS in a research report on Monday, August 4th. Wall Street Zen raised FIGS from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, The Goldman Sachs Group increased their target price on shares of FIGS from $3.75 to $4.50 and gave the company a “sell” rating in a research report on Tuesday, July 22nd. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $5.38.

FIGS Price Performance

Shares of FIGS stock opened at $7.26 on Friday. FIGS, Inc. has a 12 month low of $3.57 and a 12 month high of $7.54. The stock has a market capitalization of $1.19 billion, a P/E ratio of 181.55, a PEG ratio of 4.77 and a beta of 1.34. The business has a 50 day simple moving average of $6.70 and a two-hundred day simple moving average of $5.41.

FIGS (NYSE:FIGS) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.02 by $0.02. The business had revenue of $152.64 million during the quarter, compared to analyst estimates of $144.17 million. FIGS had a return on equity of 1.84% and a net margin of 1.26%.The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the business posted $0.01 earnings per share. As a group, research analysts anticipate that FIGS, Inc. will post 0.01 EPS for the current fiscal year.

FIGS 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.