KBC Group NV Invests $3.78 Million in FIGS, Inc. $FIGS

KBC Group NV purchased a new stake in FIGS, Inc. (NYSE:FIGS) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 256,051 shares of the company’s stock, valued at approximately $3,782,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in FIGS by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 77,219 shares of the company’s stock worth $354,000 after buying an additional 3,276 shares in the last quarter. Woodline Partners LP purchased a new position in FIGS in the first quarter valued at about $3,199,000. Creative Planning increased its holdings in FIGS by 181.3% in the second quarter. Creative Planning now owns 65,740 shares of the company’s stock valued at $371,000 after buying an additional 42,367 shares in the last quarter. Prudential Financial Inc. acquired a new stake in shares of FIGS during the 2nd quarter valued at approximately $70,000. Finally, Russell Investments Group Ltd. lifted its position in shares of FIGS by 102.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 147,440 shares of the company’s stock valued at $832,000 after acquiring an additional 74,578 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on FIGS shares. BTIG Research restated a “buy” rating and issued a $20.00 price target on shares of FIGS in a report on Friday, April 24th. Weiss Ratings cut FIGS from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. KeyCorp reiterated an “overweight” rating on shares of FIGS in a research report on Tuesday, June 23rd. Zacks Research lowered FIGS from a “strong-buy” rating to a “hold” rating in a report on Friday, May 8th. Finally, Morgan Stanley raised their price target on FIGS from $8.00 to $15.00 and gave the company 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 given a Buy rating and six have given 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.

Insider Buying and Selling at FIGS

In related news, Chairman Heather L. Hasson sold 32,385 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 $464,077.05. Following the completion of the sale, the chairman owned 1,433,807 shares in the company, valued at approximately $20,546,454.31. This trade represents a 2.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 the business’s stock in a transaction dated Monday, May 4th. The shares were 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 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 position. 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. 27.06% of the stock is owned by corporate insiders.

FIGS Price Performance

Shares of FIGS stock opened at $9.25 on Friday. FIGS, Inc. has a 1 year low of $6.07 and a 1 year high of $17.48. The business has a 50 day moving average price of $11.21 and a 200 day moving average price of $12.59. The company has a market capitalization of $1.55 billion, a P/E ratio of 42.05 and a beta of 1.01.

FIGS (NYSE:FIGS) last announced its earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $159.90 million for the quarter, compared to analysts’ expectations of $153.15 million. FIGS had a return on equity of 9.69% and a net margin of 6.10%.The business’s revenue for the quarter was up 28.0% on a year-over-year basis. As a group, research analysts expect that FIGS, Inc. will post 0.26 EPS for the current fiscal year.

FIGS Company 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.