Raymond James Financial Inc. Sells 994,276 Shares of FIGS, Inc. $FIGS

Raymond James Financial Inc. lessened its stake in shares of FIGS, Inc. (NYSE:FIGS) by 50.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 968,934 shares of the company’s stock after selling 994,276 shares during the period. Raymond James Financial Inc.’s holdings in FIGS were worth $4,447,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in FIGS. GAMMA Investing LLC boosted its holdings in shares of FIGS by 585.8% during the 1st quarter. GAMMA Investing LLC now owns 6,536 shares of the company’s stock valued at $30,000 after purchasing an additional 5,583 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of FIGS in the first quarter worth about $66,000. Stifel Financial Corp purchased a new stake in shares of FIGS in the fourth quarter worth about $70,000. US Bancorp DE purchased a new stake in shares of FIGS in the first quarter worth about $70,000. Finally, Quantinno Capital Management LP purchased a new stake in shares of FIGS in the fourth quarter worth about $82,000. Institutional investors own 92.21% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Barclays reaffirmed a “positive” rating on shares of FIGS in a report on Tuesday, May 13th. Cowen reaffirmed a “hold” rating on shares of FIGS in a research note on Friday, August 8th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $7.00 price target (up previously from $5.00) on shares of FIGS in a research note on Monday, August 4th. Morgan Stanley upped their price target on shares of FIGS from $4.25 to $5.00 and gave the company an “equal weight” rating in a research note on Monday, July 21st. Finally, The Goldman Sachs Group upped their target price on shares of FIGS from $3.75 to $4.50 and gave the company a “sell” rating in a research report on Tuesday, July 22nd. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, FIGS currently has an average rating of “Hold” and a consensus price target of $5.38.

Insider Activity at FIGS

In other FIGS news, CEO Catherine Eva Spear sold 65,866 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $6.88, for a total value of $453,158.08. Following the sale, the chief executive officer owned 1,969,246 shares in the company, valued at $13,548,412.48. This trade represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Sarah Oughtred sold 99,834 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $6.19, for a total value of $617,972.46. Following the completion of the sale, the chief financial officer owned 878,058 shares in the company, valued at approximately $5,435,179.02. The trade was a 10.21% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 29.44% of the company’s stock.

FIGS Price Performance

FIGS stock opened at $6.91 on Friday. FIGS, Inc. has a 1-year low of $3.57 and a 1-year high of $7.31. The firm has a market capitalization of $1.13 billion, a P/E ratio of 172.67, a price-to-earnings-growth ratio of 4.38 and a beta of 1.34. The company’s 50-day moving average is $6.44 and its 200 day moving average is $5.28.

FIGS (NYSE:FIGS) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. FIGS had a net margin of 1.26% and a return on equity of 1.84%. The company had revenue of $152.64 million for the quarter, compared to analyst estimates of $144.17 million. During the same period in the prior year, the company posted $0.01 EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. Research analysts anticipate that FIGS, Inc. will post 0.01 earnings per share for the current fiscal year.

FIGS 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.