Castleark Management LLC Buys Shares of 199,010 FIGS, Inc. $FIGS

Castleark Management LLC acquired a new stake in FIGS, Inc. (NYSE:FIGS) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 199,010 shares of the company’s stock, valued at approximately $2,939,000. Castleark Management LLC owned 0.12% of FIGS as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Elevated Capital Advisors LLC bought a new position in FIGS during the fourth quarter valued at approximately $45,000. Kemnay Advisory Services Inc. bought a new position in shares of FIGS during the 4th quarter valued at $69,000. OP Asset Management Ltd bought a new position in shares of FIGS during the 1st quarter valued at $115,000. Quarry LP lifted its stake in shares of FIGS by 1,876.3% in the 3rd quarter. Quarry LP now owns 7,846 shares of the company’s stock valued at $52,000 after purchasing an additional 7,449 shares during the last quarter. Finally, May Hill Capital LLC acquired a new stake in shares of FIGS in the 4th quarter valued at $117,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Heather L. Hasson sold 32,385 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $20,546,454.31. This trade represents a 2.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 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 dated Monday, May 4th. The shares were sold at an average price of $14.33, for a total transaction of $338,145.01. Following the completion of the sale, the chief financial officer owned 1,129,791 shares of the company’s stock, valued at $16,189,905.03. The trade was a 2.05% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 27.06% of the company’s stock.

FIGS Stock Up 4.7%

FIGS stock opened at $9.96 on Tuesday. FIGS, Inc. has a twelve month low of $6.07 and a twelve month high of $17.48. The company has a market cap of $1.66 billion, a PE ratio of 45.28 and a beta of 1.01. The business’s 50-day simple moving average is $11.13 and its 200 day simple moving average is $12.56.

FIGS (NYSE:FIGS) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. FIGS had a net margin of 6.10% and a return on equity of 9.69%. The firm had revenue of $159.90 million for the quarter, compared to the consensus estimate of $153.15 million. The business’s quarterly revenue was up 28.0% compared to the same quarter last year. On average, equities research analysts anticipate that FIGS, Inc. will post 0.26 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. BTIG Research restated a “buy” rating and set a $20.00 target price on shares of FIGS in a report on Friday, April 24th. Weiss Ratings lowered FIGS from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. KeyCorp reissued an “overweight” rating on shares of FIGS in a research note on Tuesday, June 23rd. Morgan Stanley boosted their target price on FIGS from $8.00 to $15.00 and gave the stock an “equal weight” rating in a report on Monday, April 13th. Finally, Zacks Research cut FIGS from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $15.93.

FIGS 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.