Jennison Associates LLC Has $20.70 Million Stock Position in FIGS, Inc. $FIGS

Jennison Associates LLC boosted its holdings in FIGS, Inc. (NYSE:FIGS) by 178.4% in the first quarter, HoldingsChannel reports. The firm owned 1,401,214 shares of the company’s stock after purchasing an additional 897,935 shares during the period. Jennison Associates LLC’s holdings in FIGS were worth $20,696,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in FIGS. Ameriprise Financial Inc. boosted its holdings in shares of FIGS by 9.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 13,936,468 shares of the company’s stock worth $78,602,000 after buying an additional 1,144,962 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of FIGS by 1.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,417,008 shares of the company’s stock valued at $29,549,000 after acquiring an additional 70,660 shares in the last quarter. Marshall Wace LLP increased its stake in shares of FIGS by 66.2% in the 4th quarter. Marshall Wace LLP now owns 4,297,868 shares of the company’s stock valued at $48,824,000 after acquiring an additional 1,712,610 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of FIGS by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 2,957,667 shares of the company’s stock valued at $33,608,000 after acquiring an additional 145,270 shares during the period. Finally, State Street Corp lifted its position in shares of FIGS by 3.9% during the 4th quarter. State Street Corp now owns 2,429,194 shares of the company’s stock valued at $27,596,000 after acquiring an additional 90,568 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FIGS. Morgan Stanley increased their target price on shares of FIGS from $8.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Monday, April 13th. BTIG Research reissued a “buy” rating and set a $20.00 price objective on shares of FIGS in a research report on Friday, April 24th. Zacks Research downgraded FIGS from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 8th. KeyCorp reaffirmed an “overweight” rating on shares of FIGS in a research report on Tuesday, June 23rd. Finally, Weiss Ratings downgraded FIGS from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, FIGS currently has an average rating of “Moderate Buy” and an average target price of $15.93.

Insider Transactions at FIGS

In other FIGS news, CFO Sarah Oughtred sold 23,597 shares of FIGS stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $14.33, for a total transaction of $338,145.01. Following the completion of the transaction, the chief financial officer owned 1,129,791 shares in the company, valued at approximately $16,189,905.03. The trade was a 2.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Heather L. Hasson sold 32,385 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $14.33, for a total value of $464,077.05. Following the sale, the chairman directly owned 1,433,807 shares of the company’s stock, valued at $20,546,454.31. This represents a 2.21% 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. 27.06% of the stock is currently owned by insiders.

FIGS Trading Down 0.9%

FIGS stock opened at $10.22 on Tuesday. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 46.44 and a beta of 1.01. The firm’s fifty day moving average price is $11.33 and its two-hundred day moving average price is $12.62. FIGS, Inc. has a 1-year low of $5.97 and a 1-year high of $17.48.

FIGS (NYSE:FIGS) last posted its earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02. FIGS had a net margin of 6.10% and a return on equity of 9.69%. The company had revenue of $159.90 million during the quarter, compared to the consensus estimate of $153.15 million. FIGS’s revenue was up 28.0% on a year-over-year basis. On average, research analysts forecast that FIGS, Inc. will post 0.26 EPS for the current year.

About FIGS

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.