FIGS, Inc. $FIGS Stock Sold by ProShare Advisors LLC

ProShare Advisors LLC reduced its holdings in shares of FIGS, Inc. (NYSE:FIGS) by 36.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 145,801 shares of the company’s stock after selling 85,443 shares during the quarter. ProShare Advisors LLC owned 0.09% of FIGS worth $2,021,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in FIGS. State of Wyoming lifted its holdings in shares of FIGS by 6.9% during the 3rd quarter. State of Wyoming now owns 69,746 shares of the company’s stock valued at $967,000 after acquiring an additional 4,487 shares in the last quarter. Sterling Capital Management LLC increased its holdings in FIGS by 848.2% in the 3rd quarter. Sterling Capital Management LLC now owns 3,167 shares of the company’s stock valued at $44,000 after purchasing an additional 2,833 shares in the last quarter. SBI Securities Co. Ltd. increased its holdings in FIGS by 11,872.9% in the 3rd quarter. SBI Securities Co. Ltd. now owns 14,128 shares of the company’s stock valued at $196,000 after purchasing an additional 14,010 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in FIGS in the third quarter valued at about $116,000. Finally, Sanders Morris Harris LLC purchased a new position in FIGS in the third quarter valued at about $403,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

FIGS Trading Down 1.2%

NYSE:FIGS traded down $0.25 on Friday, reaching $19.96. The stock had a trading volume of 7,430,912 shares, compared to its average volume of 4,487,996. The company has a 50-day moving average of $16.34 and a 200 day moving average of $13.64. The stock has a market cap of $3.32 billion, a P/E ratio of 52.53 and a beta of 1.05. FIGS, Inc. has a 12-month low of $8.00 and a 12-month high of $22.46.

FIGS (NYSE:FIGS) last announced its earnings results on Thursday, November 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. FIGS had a return on equity of 12.53% and a net margin of 8.72%. The business had revenue of $190.69 million for the quarter, compared to analyst estimates of $182.82 million. During the same period in the previous year, the company earned $0.05 earnings per share. The company’s revenue for the quarter was up 25.7% compared to the same quarter last year. On average, equities analysts predict that FIGS, Inc. will post 0.32 EPS for the current year.

Key Stories Impacting FIGS

Here are the key news stories impacting FIGS this week:

• Positive Sentiment: KeyCorp raised its price target on FIGS to $27 from $20 and reiterated an “overweight” rating. The new target implies 35.3% upside from the cited $19.96 share price. KeyCorp ratings
• Positive Sentiment: FIGS reported Q3 revenue of $190.7 million, up 25.7% year over year and above the $182.8 million analyst estimate. Earnings of $0.10 per share also beat the $0.07 consensus and doubled the year-ago $0.05. Q3 earnings report
• Positive Sentiment: Management also provided optimistic revenue guidance for the next quarter, adding to the upbeat earnings report. Q3 sales and guidance article
• Negative Sentiment: A recent analysis described FIGS as “priced for perfection” after a substantial run-up, suggesting high expectations could limit further gains or magnify a disappointment. Valuation analysis

Wall Street Analysts Forecast Growth

FIGS has been the subject of several analyst reports. Barclays upped their target price on FIGS from $20.00 to $24.00 and gave the stock an “overweight” rating in a research report on Tuesday. BTIG Research raised their target price on FIGS from $22.00 to $25.00 and gave the company a “buy” rating in a report on Friday, October 30th. The Goldman Sachs Group reissued a “neutral” rating and set a $16.00 price target on shares of FIGS in a research report on Friday, August 7th. Wall Street Zen lowered FIGS from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, KeyCorp upped their price target on FIGS from $20.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, FIGS has a consensus rating of “Moderate Buy” and an average target price of $21.14.

FIGS Company Profile

FIGS, Inc is a direct-to-consumer healthcare apparel and lifestyle company that designs and sells clothing and accessories for healthcare professionals. Its product portfolio includes scrubs, underscrubs, outerwear, footwear, bags and other accessories intended to combine functionality, comfort and contemporary design.

The company sells primarily through its digital platform and also operates retail locations and other distribution channels. FIGS serves healthcare professionals in the United States and select international markets, including Canada, the United Kingdom and Australia.

FIGS was founded in 2013 by Heather Hasson and Trina Spear.