Farther Finance Advisors LLC Grows Stock Holdings in FIGS, Inc. $FIGS

Farther Finance Advisors LLC increased its stake in shares of FIGS, Inc. (NYSE:FIGS) by 12,795.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,158 shares of the company’s stock after buying an additional 5,118 shares during the period. Farther Finance Advisors LLC’s holdings in FIGS were worth $29,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of FIGS. GAMMA Investing LLC lifted its holdings in shares of FIGS by 585.8% in the first quarter. GAMMA Investing LLC now owns 6,536 shares of the company’s stock valued at $30,000 after purchasing an additional 5,583 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of FIGS by 88.6% in the first quarter. SG Americas Securities LLC now owns 107,951 shares of the company’s stock valued at $495,000 after purchasing an additional 50,720 shares in the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of FIGS by 106.5% in the first quarter. Oppenheimer & Co. Inc. now owns 348,628 shares of the company’s stock valued at $1,600,000 after purchasing an additional 179,763 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of FIGS in the first quarter valued at about $66,000. Finally, Lane & Associates LLC lifted its holdings in shares of FIGS by 41.8% in the first quarter. Lane & Associates LLC now owns 21,405 shares of the company’s stock valued at $98,000 after purchasing an additional 6,305 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

FIGS Stock Performance

Shares of FIGS stock opened at $6.90 on Thursday. FIGS, Inc. has a one year low of $3.57 and a one year high of $7.54. The company has a 50 day moving average price of $6.86 and a 200 day moving average price of $5.61. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 172.54, a price-to-earnings-growth ratio of 4.50 and a beta of 1.33.

FIGS (NYSE:FIGS) last issued 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. FIGS had a net margin of 1.26% and a return on equity of 1.84%. The firm had revenue of $152.64 million during the quarter, compared to analyst estimates of $144.17 million. During the same quarter in the prior year, the business posted $0.01 earnings per share. FIGS’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, equities analysts forecast that FIGS, Inc. will post 0.01 EPS for the current fiscal year.

Insider Activity at FIGS

In other FIGS news, CEO Catherine Eva Spear sold 62,213 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $6.88, for a total transaction of $428,025.44. Following the completion of the sale, the chief executive officer directly owned 1,907,033 shares in the company, valued at $13,120,387.04. The trade was a 3.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sarah Oughtred sold 9,968 shares of the business’s stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $7.36, for a total transaction of $73,364.48. Following the sale, the chief financial officer owned 868,090 shares of the company’s stock, valued at approximately $6,389,142.40. This represents a 1.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 237,881 shares of company stock valued at $1,572,520. 29.44% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FIGS. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $7.00 price target (up previously from $5.00) on shares of FIGS in a report on Monday, August 4th. The Goldman Sachs Group upped their price target on shares of FIGS from $3.75 to $4.50 and gave the company a “sell” rating in a report on Tuesday, July 22nd. Cowen reaffirmed a “hold” rating on shares of FIGS in a report on Friday, August 8th. Weiss Ratings reissued a “sell (d+)” rating on shares of FIGS in a research report on Wednesday. Finally, Wall Street Zen lowered shares of FIGS from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 4th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, FIGS has an average rating of “Reduce” and an average target price of $5.38.

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.