Heather Hasson Sells 556,327 Shares of FIGS (NYSE:FIGS) Stock

FIGS, Inc. (NYSE:FIGS) insider Heather Hasson sold 556,327 shares of the business’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $16.85, for a total transaction of $9,374,109.95. Following the sale, the insider directly owned 1,251,967 shares of the company’s stock, valued at $21,095,643.95. This represents a 30.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

FIGS Price Performance

Shares of FIGS stock opened at $16.97 on Thursday. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of 89.32 and a beta of 1.22. The firm’s 50-day moving average is $11.70 and its two-hundred day moving average is $9.58. FIGS, Inc. has a 1 year low of $3.57 and a 1 year 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, beating analysts’ consensus estimates of $0.02 by $0.08. FIGS had a return on equity of 8.41% and a net margin of 5.43%.The business had revenue of $201.90 million for the quarter, compared to the consensus estimate of $165.33 million. During the same period last year, the business posted $0.01 EPS. The business’s revenue was up 33.0% compared to the same quarter last year. On average, equities analysts expect that FIGS, Inc. will post 0.01 earnings per share for the current year.

Analyst Ratings Changes

FIGS has been the topic of several research analyst reports. Barclays upgraded FIGS from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. Zacks Research upgraded shares of FIGS from a “hold” rating to a “strong-buy” rating in a report on Friday, November 7th. Telsey Advisory Group raised their price target on shares of FIGS from $9.00 to $15.00 and gave the stock a “market perform” rating in a research report on Friday, February 27th. The Goldman Sachs Group upgraded shares of FIGS from a “strong sell” rating to a “hold” rating in a research note on Friday, February 27th. Finally, Wolfe Research upgraded 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 given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, FIGS presently has an average rating of “Moderate Buy” and an average price target of $12.25.

Institutional Investors Weigh In On FIGS

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Assetmark Inc. acquired a new position in FIGS in the 3rd quarter valued at $35,000. Elevated Capital Advisors LLC purchased a new stake in shares of FIGS during the fourth quarter worth $45,000. Quarry LP grew its holdings in shares of FIGS by 1,876.3% during the third quarter. Quarry LP now owns 7,846 shares of the company’s stock worth $52,000 after buying an additional 7,449 shares in the last quarter. Capstone Financial Advisors Inc. acquired a new stake in shares of FIGS in the second quarter valued at about $56,000. Finally, Hudson Bay Capital Management LP purchased a new position in shares of FIGS in the second quarter worth about $61,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

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.