Key Points
- FIGS CEO Catherine Eva Spear sold 4,044,284 shares for about $79.7 million, reducing her direct stake by 70.75%; the sale was to cover tax withholding on vested equity awards.
- Quarterly results topped estimates: FIGS reported EPS of $0.10 versus $0.07 expected and revenue of $190.69 million, up 25.7% year over year.
- Analysts’ consensus rating is Moderate Buy, with an average price target of $21.14; seven analysts rated the stock Buy and four rated it Hold.
FIGS, Inc. (NYSE:FIGS - Get Free Report) CEO Catherine Spear sold 4,044,284 shares of the firm's stock in a transaction on Monday, November 9th. The stock was sold at an average price of $19.70, for a total value of $79,672,394.80. Following the transaction, the chief executive officer directly owned 1,671,854 shares of the company's stock, valued at $32,935,523.80. The trade was a 70.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
FIGS Stock Up 8.8%
NYSE FIGS opened at $21.56 on Tuesday. FIGS, Inc. has a fifty-two week low of $8.36 and a fifty-two week high of $22.46. The stock has a market cap of $3.58 billion, a price-to-earnings ratio of 56.74 and a beta of 1.05. The business has a fifty day moving average of $16.46 and a 200-day moving average of $13.69.
FIGS (NYSE:FIGS - Get Free Report) 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 business had revenue of $190.69 million for the quarter, compared to the consensus estimate of $182.82 million. FIGS had a return on equity of 12.53% and a net margin of 8.72%. The business's revenue was up 25.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.05 earnings per share. As a group, analysts anticipate that FIGS, Inc. will post 0.34 EPS for the current year.
Institutional Trading of FIGS
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership grew its holdings in FIGS by 167.2% in the 1st 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. Dimensional Fund Advisors LP lifted its holdings in shares of FIGS by 7.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,552,919 shares of the company's stock worth $52,472,000 after acquiring an additional 257,644 shares during the period. 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 worth $20,696,000 after acquiring an additional 897,935 shares during the period. Wellington Management Group LLP acquired a new stake in shares of FIGS in the second quarter worth approximately $12,304,000. Finally, Bank of America Corp DE grew its holdings in FIGS by 190.3% in the first quarter. Bank of America Corp DE now owns 790,013 shares of the company's stock valued at $11,668,000 after purchasing an additional 517,918 shares during the period. Hedge funds and other institutional investors own 92.21% of the company's stock.
Wall Street Analysts Forecast Growth
FIGS has been the topic of a number of recent research reports. The Goldman Sachs Group restated a "neutral" rating and issued a $16.00 target price on shares of FIGS in a report on Friday, August 7th. Telsey Advisory Group lowered their price target on shares of FIGS from $17.00 to $16.00 and set a "market perform" rating for the company in a report on Friday, August 7th. Barclays boosted their price objective on shares of FIGS from $20.00 to $24.00 and gave the company an "overweight" rating in a research report on Tuesday, November 3rd. Wall Street Zen downgraded shares of FIGS from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Finally, BTIG Research raised their target price on shares of FIGS from $22.00 to $25.00 and gave the stock a "buy" rating in a research report on Friday, October 30th. Seven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, FIGS has an average rating of "Moderate Buy" and a consensus target price of $21.14.
Read Our Latest Stock Analysis on FIGS
About FIGS
(
Get Free Report)
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
