Rice Hall James & Associates LLC Lowers Stake in FIGS, Inc. $FIGS

Rice Hall James & Associates LLC decreased its position in FIGS, Inc. (NYSE:FIGS) by 16.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 516,016 shares of the company’s stock after selling 101,204 shares during the quarter. Rice Hall James & Associates LLC owned 0.31% of FIGS worth $5,862,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. FourThought Financial Partners LLC boosted its position in shares of FIGS by 3.6% during the fourth quarter. FourThought Financial Partners LLC now owns 32,851 shares of the company’s stock worth $373,000 after buying an additional 1,138 shares during the period. GSA Capital Partners LLP boosted its position in shares of FIGS by 4.2% during the third quarter. GSA Capital Partners LLP now owns 52,045 shares of the company’s stock worth $348,000 after buying an additional 2,083 shares during the period. Corient Private Wealth LLC boosted its stake in shares of FIGS by 0.8% in the second quarter. Corient Private Wealth LLC now owns 332,938 shares of the company’s stock valued at $1,878,000 after purchasing an additional 2,612 shares during the period. Creative Planning boosted its stake in shares of FIGS by 4.9% in the third quarter. Creative Planning now owns 68,932 shares of the company’s stock valued at $461,000 after purchasing an additional 3,192 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of FIGS by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 77,219 shares of the company’s stock valued at $354,000 after purchasing an additional 3,276 shares during the period. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other FIGS news, Chairman Heather L. Hasson sold 32,385 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $14.33, for a total value of $464,077.05. Following the transaction, the chairman owned 1,433,807 shares in the company, valued at $20,546,454.31. The trade was a 2.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Sarah Oughtred sold 23,597 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $14.33, for a total value of $338,145.01. Following the sale, the chief financial officer directly owned 1,129,791 shares of the company’s stock, valued at $16,189,905.03. This trade represents a 2.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 129,189 shares of company stock worth $1,859,331. Corporate insiders own 27.06% of the company’s stock.

FIGS Price Performance

NYSE FIGS opened at $12.50 on Tuesday. FIGS, Inc. has a 12 month low of $5.08 and a 12 month high of $17.48. The company’s 50 day simple moving average is $13.38 and its 200 day simple moving average is $12.74. The firm has a market capitalization of $2.09 billion, a PE ratio of 56.82 and a beta of 1.04.

FIGS (NYSE:FIGS) last issued its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. FIGS had a net margin of 6.10% and a return on equity of 9.69%. The firm had revenue of $159.90 million during the quarter, compared to analysts’ expectations of $153.15 million. The firm’s revenue was up 28.0% compared to the same quarter last year. Sell-side analysts anticipate that FIGS, Inc. will post 0.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Zacks Research lowered shares of FIGS from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 8th. Weiss Ratings lowered shares of FIGS from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. Barclays raised shares of FIGS from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. Oppenheimer raised shares of FIGS from a “market perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research note on Friday, March 20th. Finally, KeyCorp lifted their price target on shares of FIGS to $19.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. One 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $15.93.

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.