FIGS, Inc. $FIGS Stock Position Lowered by Applied Fundamental Research LLC

Applied Fundamental Research LLC cut its holdings in FIGS, Inc. (NYSE:FIGS) by 20.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,274,818 shares of the company’s stock after selling 317,962 shares during the period. FIGS accounts for 8.3% of Applied Fundamental Research LLC’s investment portfolio, making the stock its 8th biggest position. Applied Fundamental Research LLC owned approximately 0.78% of FIGS worth $8,529,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Farther Finance Advisors LLC lifted its position in shares of FIGS by 12,795.0% during the second quarter. Farther Finance Advisors LLC now owns 5,158 shares of the company’s stock worth $29,000 after acquiring an additional 5,118 shares in the last quarter. Capstone Financial Advisors Inc. bought a new stake in shares of FIGS during the 2nd quarter valued at $56,000. Hudson Bay Capital Management LP purchased a new stake in FIGS during the 2nd quarter worth about $61,000. Walleye Capital LLC purchased a new stake in FIGS during the 2nd quarter worth about $65,000. Finally, Prudential Financial Inc. bought a new position in FIGS in the 2nd quarter worth about $70,000. Institutional investors own 92.21% of the company’s stock.

FIGS Stock Performance

FIGS stock opened at $11.57 on Thursday. The firm’s fifty day moving average price is $11.14 and its 200-day moving average price is $8.46. The stock has a market cap of $1.90 billion, a P/E ratio of 115.65 and a beta of 1.30. FIGS, Inc. has a fifty-two week low of $3.57 and a fifty-two week high of $12.50.

FIGS (NYSE:FIGS) last announced its earnings results on Thursday, November 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.03. FIGS had a net margin of 3.03% and a return on equity of 4.50%. The company had revenue of $151.66 million during the quarter, compared to analyst estimates of $142.39 million. During the same period in the previous year, the business earned ($0.01) earnings per share. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, analysts predict that FIGS, Inc. will post 0.01 earnings per share for the current year.

Insider Transactions at FIGS

In related news, CEO Catherine Eva Spear sold 49,734 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $11.38, for a total value of $565,972.92. Following the completion of the sale, the chief executive officer owned 1,857,299 shares in the company, valued at $21,136,062.62. The trade was a 2.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Sarah Oughtred sold 22,745 shares of FIGS stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $7.39, for a total transaction of $168,085.55. Following the transaction, the chief financial officer directly owned 845,345 shares in the company, valued at $6,247,099.55. This trade represents a 2.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 106,350 shares of company stock worth $1,027,582. 29.44% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Wall Street Zen raised FIGS from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 17th. Weiss Ratings restated a “hold (c-)” rating on shares of FIGS in a research report on Monday, December 29th. BTIG Research boosted their price objective on shares of FIGS from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. Morgan Stanley increased their target price on shares of FIGS from $7.50 to $8.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 13th. Finally, The Goldman Sachs Group raised their price target on shares of FIGS from $5.00 to $5.50 and gave the company a “sell” rating in a report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, FIGS currently has a consensus rating of “Hold” and an average target price of $9.70.

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.