Key Points
- FIGS CFO Sarah Oughtred sold 90,000 shares for $1.97 million at an average price of $21.92, reducing her stake by 8.62%; she still owns 954,007 shares.
- Quarterly results beat expectations: FIGS reported earnings of $0.10 per share versus $0.07 forecast and revenue of $190.69 million, up 25.7% year over year.
- Analysts’ consensus rating is Moderate Buy, with an average price target of $21.62; eight analysts rate the stock Buy and four rate it Hold.
FIGS, Inc. (NYSE:FIGS - Get Free Report) CFO Sarah Oughtred sold 90,000 shares of the business's stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $21.92, for a total value of $1,972,800.00. Following the sale, the chief financial officer owned 954,007 shares in the company, valued at $20,911,833.44. The trade was a 8.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
FIGS Stock Down 2.9%
FIGS opened at $22.73 on Friday. 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 P/E ratio of 59.81 and a beta of 1.05. The firm's 50-day moving average price is $16.92 and its 200-day moving average price is $13.86.
FIGS (NYSE:FIGS - Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.07 by $0.03. The firm had revenue of $190.69 million during 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% on a year-over-year basis. During the same period last year, the firm posted $0.05 EPS. On average, research analysts anticipate that FIGS, Inc. will post 0.35 EPS for the current fiscal year.
Analyst Ratings Changes
FIGS has been the subject of a number of research analyst reports. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $16.00 price target on shares of FIGS in a report on Friday, August 7th. Cantor Fitzgerald assumed coverage on shares of FIGS in a report on Tuesday. They set an "overweight" rating and a $25.00 price objective on the stock. Telsey Advisory Group dropped their price objective on shares of FIGS from $17.00 to $16.00 and set a "market perform" rating on the stock in a report on Friday, August 7th. Barclays upped their target price on FIGS from $20.00 to $24.00 and gave the company an "overweight" rating in a research report on Tuesday, November 3rd. Finally, KeyCorp raised their target price on FIGS from $20.00 to $27.00 and gave the stock an "overweight" rating in a research note on Friday, November 6th. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, FIGS currently has a consensus rating of "Moderate Buy" and an average price target of $21.62.
View Our Latest Analysis on FIGS
Institutional Investors Weigh In On FIGS
A number of large investors have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership increased 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 worth $60,118,000 after buying an additional 2,546,905 shares during the period. Dimensional Fund Advisors LP raised its position in 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 buying an additional 257,644 shares during the last quarter. Jennison Associates LLC raised its position in 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 buying an additional 897,935 shares during the last quarter. Wellington Management Group LLP acquired a new stake in FIGS during the 2nd quarter valued at approximately $12,304,000. Finally, Bank of America Corp DE lifted its stake in FIGS by 190.3% during the 1st quarter. Bank of America Corp DE now owns 790,013 shares of the company's stock valued at $11,668,000 after acquiring an additional 517,918 shares during the period. Hedge funds and other institutional investors own 92.21% of the company's stock.
FIGS Company Profile
(
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.
Further Reading
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