Investors Purchase High Volume of Call Options on FIGS (NYSE:FIGS)

FIGS, Inc. (NYSE:FIGS) saw unusually large options trading on Tuesday. Investors acquired 7,216 call options on the stock. This is an increase of 179% compared to the typical daily volume of 2,589 call options.

Insiders Place Their Bets

In related news, CFO Sarah Oughtred sold 22,690 shares of the firm’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $10.56, for a total transaction of $239,606.40. Following the sale, the chief financial officer directly owned 821,500 shares of the company’s stock, valued at $8,675,040. This trade represents a 2.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Catherine Eva Spear sold 49,734 shares of FIGS stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $11.38, for a total value of $565,972.92. Following the transaction, the chief executive officer owned 1,857,299 shares of the company’s stock, valued at approximately $21,136,062.62. This represents a 2.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 662,140 shares of company stock valued at $10,542,161. Company insiders own 29.44% of the company’s stock.

Hedge Funds Weigh In On FIGS

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Y Intercept Hong Kong Ltd boosted its holdings in shares of FIGS by 943.4% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 261,232 shares of the company’s stock valued at $1,748,000 after buying an additional 236,195 shares in the last quarter. XTX Topco Ltd acquired a new stake in FIGS during the 2nd quarter worth $671,000. Catalyst Funds Management Pty Ltd purchased a new stake in FIGS in the second quarter valued at $72,000. ProShare Advisors LLC lifted its position in FIGS by 24.7% in the third quarter. ProShare Advisors LLC now owns 963,560 shares of the company’s stock valued at $6,446,000 after acquiring an additional 190,592 shares during the last quarter. Finally, Western Standard LLC acquired a new position in FIGS in the third quarter valued at $1,863,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Wall Street Zen raised shares of FIGS from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 28th. Telsey Advisory Group boosted their target price on shares of FIGS to $17.00 and gave the company a “market perform” rating in a research note on Thursday, March 12th. KeyCorp upgraded shares of FIGS from a “sector weight” rating to an “overweight” rating and set a $17.00 price target on the stock in a research report on Friday, February 27th. The Goldman Sachs Group raised shares of FIGS from a “strong sell” rating to a “hold” rating in a report on Friday, February 27th. Finally, Wolfe Research raised shares of FIGS to a “buy” rating in a research note on Wednesday, December 10th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $12.58.

FIGS Price Performance

NYSE:FIGS opened at $14.39 on Wednesday. The firm has a market capitalization of $2.37 billion, a PE ratio of 75.76 and a beta of 1.22. The business’s fifty day moving average price is $12.42 and its 200 day moving average price is $10.14. FIGS has a 12 month low of $3.57 and a 12 month high of $17.48.

FIGS (NYSE:FIGS) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.08. The company had revenue of $201.90 million during the quarter, compared to the consensus estimate of $165.33 million. FIGS had a return on equity of 8.41% and a net margin of 5.43%.FIGS’s revenue for the quarter was up 33.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.01 EPS. As a group, equities analysts anticipate that FIGS will post 0.01 EPS for the current year.

FIGS Company Profile

FIGS, Inc operates as a direct-to-consumer designer and retailer of medical apparel and accessories. The company offers a range of products tailored to the needs of healthcare professionals, including scrub sets, lab coats, tops, bottoms, outerwear, footwear, and performance fabrics designed for comfort, durability, and antimicrobial protection. Through its e-commerce platform and a growing network of retail stores, FIGS provides customizable uniforms and accessories with a focus on innovative materials and functional design features such as four-way stretch fabrics, moisture-wicking technology, and multiple secure pockets.

Founded in 2013 by Heather Hasson and Trina Spear, FIGS set out to disrupt the traditional medical uniform market by emphasizing both form and function.