Rice Hall James & Associates LLC Has $6.40 Million Stock Holdings in FIGS, Inc. $FIGS

Rice Hall James & Associates LLC decreased its holdings in FIGS, Inc. (NYSE:FIGS) by 16.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 433,592 shares of the company’s stock after selling 82,424 shares during the period. Rice Hall James & Associates LLC owned approximately 0.26% of FIGS worth $6,404,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. UBS Group AG grew its position in FIGS by 45.2% in the fourth quarter. UBS Group AG now owns 277,151 shares of the company’s stock valued at $3,148,000 after acquiring an additional 86,268 shares during the last quarter. Jennison Associates LLC acquired a new position in FIGS during the fourth quarter worth about $5,717,000. LGT Fund Management Co Ltd. bought a new position in shares of FIGS in the first quarter worth about $3,961,000. Cookson Peirce & Co. Inc. bought a new position in shares of FIGS in the fourth quarter worth about $1,234,000. Finally, Hillsdale Investment Management Inc. bought a new position in shares of FIGS in the first quarter worth about $7,028,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at FIGS

In other news, Chairman Heather L. Hasson sold 32,385 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $14.33, for a total transaction of $464,077.05. Following the completion of the transaction, the chairman owned 1,433,807 shares of the company’s stock, valued at approximately $20,546,454.31. This trade represents a 2.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Sarah Oughtred sold 23,597 shares of FIGS stock in a transaction on Monday, May 4th. The stock was sold at an average price of $14.33, for a total transaction of $338,145.01. Following the transaction, the chief financial officer owned 1,129,791 shares in the company, valued at approximately $16,189,905.03. This trade represents a 2.05% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 27.06% of the stock is currently owned by company insiders.

FIGS Trading Up 2.9%

NYSE:FIGS opened at $9.51 on Friday. The stock’s 50-day moving average is $11.16 and its 200-day moving average is $12.57. FIGS, Inc. has a 1-year low of $6.07 and a 1-year high of $17.48. The stock has a market cap of $1.59 billion, a P/E ratio of 43.22 and a beta of 1.01.

FIGS (NYSE:FIGS) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating 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 business had revenue of $159.90 million during the quarter, compared to analyst estimates of $153.15 million. The company’s revenue for the quarter was up 28.0% on a year-over-year basis. As a group, equities analysts forecast that FIGS, Inc. will post 0.26 EPS for the current year.

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.