FIGS (NYSE:FIGS) Sets New 1-Year High – Here’s What Happened

FIGS, Inc. (NYSE:FIGS) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $12.50 and last traded at $12.3090, with a volume of 60978 shares trading hands. The stock had previously closed at $12.30.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. BTIG Research lifted their price target on FIGS from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. The Goldman Sachs Group raised their price objective on FIGS from $5.00 to $5.50 and gave the company a “sell” rating in a research note on Friday, November 7th. Morgan Stanley boosted their target price on FIGS from $7.50 to $8.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Barclays increased their target price on shares of FIGS from $9.00 to $11.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 6th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of FIGS in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, FIGS presently has an average rating of “Hold” and an average target price of $9.70.

FIGS Stock Up 0.4%

The company has a 50 day moving average price of $10.85 and a 200-day moving average price of $8.25. The company has a market cap of $2.03 billion, a price-to-earnings ratio of 123.63 and a beta of 1.30.

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

Insider Buying and Selling

In related news, insider Heather L. Hasson sold 23,356 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $7.39, for a total transaction of $172,600.84. Following the completion of the transaction, the insider directly owned 1,274,841 shares of the company’s stock, valued at $9,421,074.99. This trade represents a 1.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Catherine Eva Spear sold 49,734 shares of the company’s stock in a transaction dated Tuesday, January 6th. The shares were 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. This trade represents a 2.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 106,350 shares of company stock valued at $1,027,582 in the last three months. Insiders own 29.44% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Bamco Inc. NY boosted its stake in shares of FIGS by 2.2% in the 2nd quarter. Bamco Inc. NY now owns 59,974,407 shares of the company’s stock valued at $338,256,000 after purchasing an additional 1,302,823 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of FIGS by 2,139.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,307,468 shares of the company’s stock worth $7,374,000 after acquiring an additional 1,249,091 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of FIGS by 9.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 13,936,468 shares of the company’s stock valued at $78,602,000 after purchasing an additional 1,144,962 shares in the last quarter. Squarepoint Ops LLC grew its stake in FIGS by 940.7% during the second quarter. Squarepoint Ops LLC now owns 924,092 shares of the company’s stock worth $5,212,000 after purchasing an additional 835,300 shares during the period. Finally, Marshall Wace LLP increased its holdings in FIGS by 45.7% in the third quarter. Marshall Wace LLP now owns 2,585,258 shares of the company’s stock worth $17,295,000 after purchasing an additional 810,719 shares in the last quarter. Institutional investors and hedge funds 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.