FIGS Sees Unusually High Options Volume (NYSE:FIGS)

FIGS, Inc. (NYSE:FIGS) saw some unusual options trading on Friday. Stock traders acquired 22,254 call options on the stock. This is an increase of approximately 1,938% compared to the typical daily volume of 1,092 call options.

Insiders Place Their Bets

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

Institutional Investors Weigh In On FIGS

Several large investors have recently modified their holdings of FIGS. Arrowstreet Capital Limited Partnership lifted 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 valued at $60,118,000 after buying an additional 2,546,905 shares during the period. Marshall Wace LLP grew its holdings in FIGS by 66.2% during the 4th quarter. Marshall Wace LLP now owns 4,297,868 shares of the company’s stock worth $48,824,000 after acquiring an additional 1,712,610 shares during the period. 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. raised its position in shares of FIGS by 9.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 13,936,468 shares of the company’s stock worth $78,602,000 after acquiring an additional 1,144,962 shares in the last quarter. Finally, Jennison Associates LLC lifted its stake in shares of FIGS by 178.4% in 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 period. 92.21% of the stock is currently owned by institutional investors and hedge funds.

FIGS Price Performance

Shares of FIGS remained flat at $10.32 during mid-day trading on Friday. The stock had a trading volume of 1,942,427 shares, compared to its average volume of 3,317,668. The stock has a 50 day simple moving average of $11.39 and a 200 day simple moving average of $12.64. The company has a market capitalization of $1.72 billion, a PE ratio of 46.87 and a beta of 1.01. FIGS has a 52 week low of $5.84 and a 52 week high of $17.48.

FIGS (NYSE:FIGS) last announced its earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.01 by $0.02. The business had revenue of $159.90 million for the quarter, compared to analysts’ expectations of $153.15 million. FIGS had a return on equity of 9.69% and a net margin of 6.10%.The firm’s revenue was up 28.0% compared to the same quarter last year. Equities research analysts predict that FIGS will post 0.26 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. BTIG Research reaffirmed a “buy” rating and issued a $20.00 price objective on shares of FIGS in a research note on Friday, April 24th. Morgan Stanley lifted their target price on shares of FIGS from $8.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Monday, April 13th. Zacks Research lowered shares of FIGS from a “strong-buy” rating to a “hold” rating in a report on Friday, May 8th. Weiss Ratings cut shares of FIGS from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. Finally, Oppenheimer raised shares of FIGS from a “market perform” rating to an “outperform” rating and set a $22.00 price target for the company in a research note on Friday, March 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $15.93.

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.