FIGS (NYSE:FIGS) Shares Down 3.6%

FIGS, Inc. (NYSE:FIGS) dropped 3.6% on Monday . The stock traded as low as $4.83 and last traded at $4.86. Approximately 1,294,020 shares traded hands during trading, a decline of 65% from the average daily volume of 3,700,281 shares. The stock had previously closed at $5.04.

Analyst Ratings Changes

FIGS has been the topic of several analyst reports. Oppenheimer downgraded FIGS from an “outperform” rating to a “market perform” rating in a research report on Friday, March 8th. Barclays lowered their price objective on FIGS from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Friday, March 1st. Telsey Advisory Group restated a “market perform” rating and issued a $6.00 price objective on shares of FIGS in a research report on Friday. Bank of America restated an “underperform” rating and issued a $4.50 price objective (down from $8.50) on shares of FIGS in a research report on Tuesday, April 2nd. Finally, The Goldman Sachs Group lowered their price objective on FIGS from $4.85 to $4.25 and set a “sell” rating on the stock in a research report on Tuesday, April 23rd. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $4.94.

FIGS Price Performance

The company has a market capitalization of $824.92 million, a PE ratio of 44.55, a P/E/G ratio of 19.95 and a beta of 1.41. The business has a 50-day moving average of $5.06 and a 200 day moving average of $5.97.

FIGS (NYSE:FIGS) last posted its earnings results on Wednesday, February 28th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. The company had revenue of $144.90 million for the quarter, compared to the consensus estimate of $149.09 million. FIGS had a return on equity of 6.72% and a net margin of 4.15%. The firm’s revenue for the quarter was up .0% on a year-over-year basis. During the same period in the previous year, the business earned $0.05 earnings per share. As a group, research analysts anticipate that FIGS, Inc. will post 0.05 EPS for the current year.

Insiders Place Their Bets

In other FIGS news, CFO Daniella Turenshine sold 4,201 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $6.00, for a total transaction of $25,206.00. Following the sale, the chief financial officer now directly owns 425,620 shares of the company’s stock, valued at $2,553,720. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Heather L. Hasson sold 27,547 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $5.93, for a total transaction of $163,353.71. Following the transaction, the insider now owns 499,308 shares of the company’s stock, valued at $2,960,896.44. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Daniella Turenshine sold 4,201 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $6.00, for a total value of $25,206.00. Following the transaction, the chief financial officer now directly owns 425,620 shares in the company, valued at approximately $2,553,720. The disclosure for this sale can be found here. Insiders have sold 49,334 shares of company stock valued at $285,986 over the last ninety days. 21.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC purchased a new stake in shares of FIGS in the third quarter valued at approximately $178,000. Bank of New York Mellon Corp boosted its holdings in shares of FIGS by 3.5% in the third quarter. Bank of New York Mellon Corp now owns 923,080 shares of the company’s stock valued at $5,446,000 after purchasing an additional 30,793 shares during the period. Malaga Cove Capital LLC boosted its holdings in shares of FIGS by 176.6% in the third quarter. Malaga Cove Capital LLC now owns 86,269 shares of the company’s stock valued at $509,000 after purchasing an additional 55,076 shares during the period. Olympiad Research LP purchased a new stake in shares of FIGS in the third quarter valued at approximately $151,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of FIGS by 40.6% in the third quarter. Principal Financial Group Inc. now owns 90,545 shares of the company’s stock valued at $534,000 after purchasing an additional 26,168 shares during the period. Institutional investors own 92.21% of the company’s stock.

About FIGS

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.