Black Creek Investment Management Inc. Sells 238,730 Shares of FIGS, Inc. $FIGS

Black Creek Investment Management Inc. lowered its stake in shares of FIGS, Inc. (NYSE:FIGS) by 16.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,195,961 shares of the company’s stock after selling 238,730 shares during the quarter. FIGS accounts for 0.7% of Black Creek Investment Management Inc.’s holdings, making the stock its 19th largest position. Black Creek Investment Management Inc.’s holdings in FIGS were worth $13,586,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Aigen Investment Management LP bought a new stake in shares of FIGS during the fourth quarter valued at approximately $118,000. Marshall Wace LLP raised its position in shares of FIGS by 66.2% during the fourth quarter. Marshall Wace LLP now owns 4,297,868 shares of the company’s stock valued at $48,824,000 after buying an additional 1,712,610 shares during the last quarter. Formula Growth Ltd. bought a new stake in shares of FIGS during the fourth quarter valued at approximately $1,074,000. Bridgefront Capital LLC bought a new stake in FIGS in the fourth quarter worth $280,000. Finally, First Trust Advisors LP bought a new stake in FIGS in the fourth quarter worth $201,000. Institutional investors own 92.21% of the company’s stock.

FIGS Stock Performance

Shares of FIGS opened at $11.96 on Friday. The company’s fifty day moving average is $13.42 and its 200 day moving average is $12.70. FIGS, Inc. has a fifty-two week low of $4.98 and a fifty-two week high of $17.48. The stock has a market capitalization of $2.00 billion, a PE ratio of 54.37 and a beta of 1.04.

FIGS (NYSE:FIGS) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.02. The company had revenue of $159.90 million for the quarter, compared to analysts’ expectations of $153.15 million. FIGS had a net margin of 6.10% and a return on equity of 9.69%. The business’s quarterly revenue was up 28.0% compared to the same quarter last year. As a group, research analysts forecast that FIGS, Inc. will post 0.25 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. KeyCorp boosted their price target on shares of FIGS to $19.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. BTIG Research restated a “buy” rating and issued a $20.00 price target on shares of FIGS in a research report on Friday, April 24th. Weiss Ratings cut shares of FIGS from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. Zacks Research cut shares of FIGS from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 8th. Finally, Morgan Stanley boosted their price target 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. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, FIGS currently has a consensus rating of “Moderate Buy” and an average price target of $15.93.

Insiders Place Their Bets

In other FIGS news, Chairman Heather L. Hasson sold 32,385 shares of FIGS stock in a transaction on Monday, May 4th. The shares were sold at an average price of $14.33, for a total transaction of $464,077.05. Following the completion of the transaction, the chairman directly owned 1,433,807 shares of the company’s stock, valued at $20,546,454.31. The trade was a 2.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Sarah Oughtred sold 23,597 shares of FIGS stock in a transaction on Monday, May 4th. The stock was sold at an average price of $14.33, for a total transaction of $338,145.01. Following the transaction, the chief financial officer directly owned 1,129,791 shares of the company’s stock, valued at $16,189,905.03. The trade was a 2.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 129,189 shares of company stock valued at $1,859,331 over the last three months. 27.06% of the stock is owned by company insiders.

FIGS 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.