FIGS (NYSE:FIGS) Shares Down 4% – Here’s What Happened

FIGS, Inc. (NYSE:FIGS)’s share price was down 4% on Thursday . The company traded as low as $5.93 and last traded at $5.94. Approximately 630,814 shares traded hands during trading, a decline of 67% from the average daily volume of 1,887,821 shares. The stock had previously closed at $6.18.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on FIGS shares. Telsey Advisory Group reissued a “market perform” rating and set a $7.00 target price on shares of FIGS in a research report on Wednesday, November 13th. The Goldman Sachs Group reduced their target price on shares of FIGS from $5.00 to $4.50 and set a “sell” rating for the company in a research report on Tuesday, December 10th. Finally, Barclays reduced their target price on shares of FIGS from $5.00 to $4.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $5.35.

FIGS Trading Down 3.4 %

The business’s 50 day moving average price is $5.65 and its two-hundred day moving average price is $5.86. The stock has a market cap of $987.45 million, a P/E ratio of 96.92, a price-to-earnings-growth ratio of 37.08 and a beta of 1.24.

FIGS (NYSE:FIGS) last announced its earnings results on Thursday, November 7th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. The firm had revenue of $140.21 million for the quarter, compared to analyst estimates of $144.11 million. FIGS had a net margin of 1.97% and a return on equity of 2.76%. During the same quarter in the previous year, the firm posted $0.03 EPS. As a group, analysts expect that FIGS, Inc. will post 0.01 earnings per share for the current year.

Insider Activity at FIGS

In related news, insider Heather L. Hasson sold 26,855 shares of FIGS stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $5.96, for a total transaction of $160,055.80. Following the completion of the transaction, the insider now directly owns 354,221 shares of the company’s stock, valued at $2,111,157.16. This trade represents a 7.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 22.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FIGS. Sugar Maple Asset Management LLC purchased a new position in FIGS in the fourth quarter worth about $43,000. Blue Trust Inc. raised its holdings in FIGS by 380.0% in the fourth quarter. Blue Trust Inc. now owns 7,407 shares of the company’s stock worth $51,000 after buying an additional 5,864 shares during the last quarter. Creative Planning raised its holdings in FIGS by 17.7% in the third quarter. Creative Planning now owns 12,697 shares of the company’s stock worth $87,000 after buying an additional 1,911 shares during the last quarter. GSA Capital Partners LLP purchased a new position in FIGS in the third quarter worth about $104,000. Finally, Aigen Investment Management LP raised its holdings in FIGS by 40.3% in the third quarter. Aigen Investment Management LP now owns 22,840 shares of the company’s stock worth $156,000 after buying an additional 6,562 shares during the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

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.