HighTower Advisors LLC decreased its position in shares of FIGS, Inc. (NYSE:FIGS – Get Rating) by 7.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 223,702 shares of the company’s stock after selling 17,746 shares during the quarter. HighTower Advisors LLC owned about 0.13% of FIGS worth $1,505,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Aigen Investment Management LP bought a new stake in shares of FIGS during the third quarter valued at approximately $142,000. Seven Eight Capital LP bought a new stake in shares of FIGS during the third quarter valued at approximately $275,000. Raymond James & Associates increased its holdings in shares of FIGS by 53.2% during the third quarter. Raymond James & Associates now owns 15,692 shares of the company’s stock valued at $129,000 after acquiring an additional 5,450 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of FIGS during the third quarter valued at approximately $175,000. Finally, True Signal LP bought a new stake in FIGS during the fourth quarter worth $84,000.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on the company. Roth Mkm assumed coverage on FIGS in a research report on Wednesday, May 3rd. They issued a “buy” rating and a $9.00 price target for the company. Cowen increased their price target on FIGS from $6.00 to $11.00 and gave the company a “market perform” rating in a research report on Tuesday, January 31st. Raymond James increased their price target on FIGS from $8.00 to $10.00 and gave the company an “outperform” rating in a research report on Wednesday, February 1st. Oppenheimer decreased their target price on FIGS from $12.00 to $9.00 and set an “outperform” rating for the company in a research report on Tuesday, March 21st. Finally, Barclays lowered FIGS from an “equal weight” rating to an “underweight” rating in a research report on Tuesday, May 2nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $8.94.
FIGS Stock Performance
FIGS (NYSE:FIGS – Get Rating) last issued its earnings results on Thursday, May 4th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.02. FIGS had a return on equity of 7.06% and a net margin of 2.75%. The business had revenue of $120.23 million during the quarter, compared to the consensus estimate of $112.65 million. During the same quarter last year, the company earned $0.05 EPS. The firm’s revenue was up 9.2% compared to the same quarter last year. As a group, research analysts predict that FIGS, Inc. will post 0.06 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, CEO Catherine Eva Spear bought 750,000 shares of the business’s stock in a transaction on Tuesday, March 7th. The stock was acquired at an average price of $6.32 per share, for a total transaction of $4,740,000.00. Following the purchase, the chief executive officer now directly owns 757,073 shares in the company, valued at $4,784,701.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Heather L. Hasson sold 34,448 shares of FIGS stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $7.83, for a total transaction of $269,727.84. Following the completion of the sale, the insider now owns 1,503,177 shares in the company, valued at approximately $11,769,875.91. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Catherine Eva Spear purchased 750,000 shares of the company’s stock in a transaction dated Tuesday, March 7th. The shares were acquired at an average price of $6.32 per share, with a total value of $4,740,000.00. Following the transaction, the chief executive officer now owns 757,073 shares in the company, valued at approximately $4,784,701.36. The disclosure for this purchase can be found here. 21.58% of the stock is owned by corporate insiders.
FIGS, Inc operates as a direct-to-consumer healthcare apparel and lifestyle company in the United States. It designs and sells healthcare apparel and other non-scrub offerings, such as lab coats, under scrubs, outerwear, activewear, loungewear, compression socks footwear, and masks. It also offers sports bras, performance leggings, tops, super-soft pima cotton tops, vests, and jackets.
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