FIGS, Inc. $FIGS is Applied Fundamental Research LLC’s 7th Largest Position

Applied Fundamental Research LLC decreased its stake in FIGS, Inc. (NYSE:FIGS) by 12.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,592,780 shares of the company’s stock after selling 221,469 shares during the period. FIGS makes up 8.0% of Applied Fundamental Research LLC’s portfolio, making the stock its 7th biggest position. Applied Fundamental Research LLC’s holdings in FIGS were worth $8,983,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of FIGS. Farther Finance Advisors LLC boosted its holdings in FIGS by 12,795.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 5,158 shares of the company’s stock worth $29,000 after acquiring an additional 5,118 shares during the period. GAMMA Investing LLC boosted its stake in shares of FIGS by 585.8% in the first quarter. GAMMA Investing LLC now owns 6,536 shares of the company’s stock valued at $30,000 after purchasing an additional 5,583 shares during the period. Teacher Retirement System of Texas purchased a new position in shares of FIGS in the first quarter valued at $66,000. US Bancorp DE purchased a new position in shares of FIGS in the first quarter valued at $70,000. Finally, Janney Montgomery Scott LLC purchased a new position in shares of FIGS in the second quarter valued at $79,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of FIGS from $3.75 to $4.50 and gave the company a “sell” rating in a research report on Tuesday, July 22nd. Cowen reissued a “hold” rating on shares of FIGS in a report on Friday, August 8th. BTIG Research started coverage on FIGS in a report on Tuesday. They issued a “buy” rating and a $9.00 price target for the company. Weiss Ratings reissued a “sell (d+)” rating on shares of FIGS in a report on Wednesday, October 8th. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $7.00 target price (up from $5.00) on shares of FIGS in a research note on Monday, August 4th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $6.10.

FIGS Price Performance

Shares of FIGS opened at $7.23 on Wednesday. The business’s fifty day moving average price is $6.92 and its 200 day moving average price is $5.68. FIGS, Inc. has a 12-month low of $3.57 and a 12-month high of $7.54. The stock has a market capitalization of $1.18 billion, a PE ratio of 180.67, a price-to-earnings-growth ratio of 4.55 and a beta of 1.33.

FIGS (NYSE:FIGS) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. FIGS had a net margin of 1.26% and a return on equity of 1.84%. The company had revenue of $152.64 million for the quarter, compared to the consensus estimate of $144.17 million. During the same period last year, the firm posted $0.01 EPS. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, research analysts anticipate that FIGS, Inc. will post 0.01 earnings per share for the current fiscal year.

Insider Transactions at FIGS

In other FIGS news, CEO Catherine Eva Spear sold 65,866 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $6.88, for a total value of $453,158.08. Following the transaction, the chief executive officer owned 1,969,246 shares of the company’s stock, valued at $13,548,412.48. This trade represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Sarah Oughtred sold 99,834 shares of the firm’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $6.19, for a total value of $617,972.46. Following the completion of the sale, the chief financial officer directly owned 878,058 shares in the company, valued at approximately $5,435,179.02. This trade represents a 10.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 237,881 shares of company stock worth $1,572,520 in the last three months. 29.44% of the stock is currently owned by corporate insiders.

FIGS Company Profile

FIGS, Inc operates as a direct-to-consumer healthcare apparel and lifestyle company in the United States and internationally. It designs and sells healthcare apparel and scrubwear and non-scrubwear offerings, such as outerwear, underscrubs, footwear, compression socks, lab coats, loungewear, and other apparel.