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

FIGS, Inc. (NYSE:FIGS) saw some unusual options trading on Friday. Stock investors acquired 22,254 call options on the company. This represents an increase of approximately 1,938% compared to the typical volume of 1,092 call options.

Insider Activity at FIGS

In other news, Chairman Heather L. Hasson sold 32,385 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $14.33, for a total value of $464,077.05. Following the completion of the sale, the chairman directly owned 1,433,807 shares of the company’s stock, valued at approximately $20,546,454.31. This represents a 2.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Sarah Oughtred sold 23,597 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $14.33, for a total transaction of $338,145.01. Following the transaction, the chief financial officer owned 1,129,791 shares in the company, valued at approximately $16,189,905.03. This trade represents a 2.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 27.06% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in FIGS by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 77,219 shares of the company’s stock worth $354,000 after purchasing an additional 3,276 shares in the last quarter. Woodline Partners LP purchased a new stake in FIGS in the 1st quarter valued at approximately $3,199,000. Creative Planning boosted its stake in shares of FIGS by 181.3% in the second quarter. Creative Planning now owns 65,740 shares of the company’s stock valued at $371,000 after buying an additional 42,367 shares in the last quarter. Prudential Financial Inc. acquired a new position in FIGS during the second quarter worth $70,000. Finally, Russell Investments Group Ltd. raised its position in FIGS by 102.4% in the second quarter. Russell Investments Group Ltd. now owns 147,440 shares of the company’s stock worth $832,000 after acquiring an additional 74,578 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

FIGS Price Performance

Shares of NYSE FIGS opened at $10.28 on Friday. The stock has a fifty day moving average price of $11.37 and a 200 day moving average price of $12.62. FIGS has a 1-year low of $5.84 and a 1-year high of $17.48. The company has a market cap of $1.72 billion, a PE ratio of 46.75 and a beta of 1.01.

FIGS (NYSE:FIGS) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $159.90 million for the quarter, compared to analyst estimates of $153.15 million. FIGS had a net margin of 6.10% and a return on equity of 9.69%. FIGS’s revenue for the quarter was up 28.0% on a year-over-year basis. Analysts anticipate that FIGS will post 0.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. KeyCorp reissued an “overweight” rating on shares of FIGS in a research report on Tuesday, June 23rd. BTIG Research reaffirmed a “buy” rating and issued a $20.00 target price on shares of FIGS in a report on Friday, April 24th. Morgan Stanley increased their target price on shares of FIGS from $8.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Monday, April 13th. Zacks Research lowered FIGS from a “strong-buy” rating to a “hold” rating in a report on Friday, May 8th. Finally, Oppenheimer upgraded FIGS from a “market perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research report on Friday, March 20th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.93.

About FIGS

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.