Vanguard Group Inc. Grows Position in FIGS, Inc. $FIGS

Vanguard Group Inc. raised its holdings in FIGS, Inc. (NYSE:FIGS) by 4.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,609,320 shares of the company’s stock after acquiring an additional 425,189 shares during the quarter. Vanguard Group Inc. owned 5.89% of FIGS worth $64,286,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Assetmark Inc. purchased a new position in shares of FIGS in the 3rd quarter valued at about $35,000. Capstone Financial Advisors Inc. acquired a new stake in shares of FIGS in the second quarter valued at about $56,000. Hudson Bay Capital Management LP purchased a new stake in FIGS during the second quarter worth about $61,000. Walleye Capital LLC acquired a new position in FIGS during the second quarter worth about $65,000. Finally, Prudential Financial Inc. acquired a new position in FIGS during the second quarter worth about $70,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Wall Street Zen raised shares of FIGS from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 28th. The Goldman Sachs Group upgraded FIGS from a “strong sell” rating to a “hold” rating in a report on Friday, February 27th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of FIGS in a research note on Monday, December 29th. Morgan Stanley lifted their price objective on FIGS from $7.50 to $8.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 13th. Finally, Barclays upgraded FIGS from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 27th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $12.25.

FIGS Stock Performance

Shares of NYSE:FIGS opened at $16.39 on Friday. The business’s fifty day moving average price is $11.89 and its two-hundred day moving average price is $9.70. The stock has a market cap of $2.70 billion, a PE ratio of 86.27 and a beta of 1.22. FIGS, Inc. has a one year low of $3.57 and a one year high of $17.48.

FIGS (NYSE:FIGS) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.10 earnings per share for the quarter, topping 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 company had revenue of $201.90 million during the quarter, compared to analysts’ expectations of $165.33 million. During the same period in the previous year, the firm posted $0.01 earnings per share. The business’s revenue for the quarter was up 33.0% compared to the same quarter last year. As a group, equities research analysts predict that FIGS, Inc. will post 0.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Catherine Eva Spear sold 49,734 shares of FIGS stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $11.38, for a total transaction of $565,972.92. Following the completion of the sale, the chief executive officer owned 1,857,299 shares in the company, valued at approximately $21,136,062.62. This trade represents a 2.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Heather L. Hasson sold 556,327 shares of FIGS stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $16.85, for a total transaction of $9,374,109.95. Following the sale, the insider owned 1,251,967 shares of the company’s stock, valued at approximately $21,095,643.95. This trade represents a 30.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 662,140 shares of company stock worth $10,542,161. 29.44% of the stock is owned by corporate insiders.

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.