FIGS (NYSE:FIGS) CFO Sarah Oughtred Sells 90,000 Shares of Stock

FIGS, Inc. (NYSE:FIGS) CFO Sarah Oughtred sold 90,000 shares of the business’s stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $21.92, for a total transaction of $1,972,800.00. Following the completion of the sale, the chief financial officer owned 954,007 shares of the company’s stock, valued at approximately $20,911,833.44. This represents a 8.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

FIGS Stock Performance

NYSE FIGS opened at $22.73 on Friday. The firm’s 50 day moving average price is $16.92 and its 200-day moving average price is $13.86. FIGS, Inc. has a 52-week low of $8.95 and a 52-week high of $23.76. The company has a market cap of $3.78 billion, a PE ratio of 59.81 and a beta of 1.05.

FIGS (NYSE:FIGS) last issued its quarterly earnings data on Thursday, November 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.03. The company had revenue of $190.69 million for the quarter, compared to analyst estimates of $182.82 million. FIGS had a net margin of 9.67% and a return on equity of 14.65%. FIGS’s revenue was up 25.7% compared to the same quarter last year. During the same period last year, the company posted $0.05 earnings per share. On average, analysts forecast that FIGS, Inc. will post 0.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on FIGS shares. Telsey Advisory Group cut their price target on FIGS from $17.00 to $16.00 and set a “market perform” rating on the stock in a report on Friday, August 7th. Barclays boosted their price target on FIGS from $20.00 to $24.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 3rd. The Goldman Sachs Group restated a “neutral” rating and set a $16.00 price objective on shares of FIGS in a research note on Friday, August 7th. Weiss Ratings downgraded FIGS from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday. Finally, Wall Street Zen lowered FIGS from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 7th. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, FIGS presently has an average rating of “Moderate Buy” and a consensus price target of $21.62.

Institutional Investors Weigh In On FIGS

Hedge funds and other institutional investors have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership grew its holdings in FIGS by 167.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 4,070,258 shares of the company’s stock worth $60,118,000 after purchasing an additional 2,546,905 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of FIGS by 7.8% during the first quarter. Dimensional Fund Advisors LP now owns 3,552,919 shares of the company’s stock worth $52,472,000 after purchasing an additional 257,644 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of FIGS by 178.4% during the 1st quarter. Jennison Associates LLC now owns 1,401,214 shares of the company’s stock valued at $20,696,000 after purchasing an additional 897,935 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of FIGS during the 2nd quarter valued at $12,304,000. Finally, Bank of America Corp DE boosted its position in shares of FIGS by 190.3% in the 1st quarter. Bank of America Corp DE now owns 790,013 shares of the company’s stock worth $11,668,000 after purchasing an additional 517,918 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

FIGS Company Profile

FIGS, Inc. designs and sells apparel and accessories for healthcare professionals. Its products include scrubs, underscrubs, lab coats, outerwear, footwear, compression socks and other work-related accessories, with an emphasis on functional design and performance fabrics. The company primarily sells through its e-commerce platform, serving healthcare workers in the United States and internationally. Its offerings are aimed at professionals across a range of medical roles and care settings. FIGS was founded in 2013 by Heather Hasson and Trina Spear.