Catherine Eva Spear Sells 65,866 Shares of FIGS, Inc. (NYSE:FIGS) Stock

Key Points

• Catherine Eva Spear, CEO of FIGS, Inc., sold 65,866 shares of the company's stock at an average price of $6.88, totaling $453,158.08, resulting in a 3.24% decrease in her holdings.
• FIGS reported a net revenue of $152.64 million for the quarter, exceeding expectations, with a per-share earnings of $0.04, up from $0.01 the previous year.
• Currently, FIGS has institutional ownership of 92.21%, with hedge funds showing significant recent activity in its shares, highlighting growing interest from institutional investors.

FIGS, Inc. (NYSE:FIGS - Get Free Report) CEO Catherine Eva Spear sold 65,866 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer owned 1,969,246 shares in the company, valued at $13,548,412.48. This represents a 3.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

FIGS Stock Performance

NYSE FIGS traded down $0.11 on Thursday, reaching $6.86. The company had a trading volume of 1,723,992 shares, compared to its average volume of 2,071,329. The company's fifty day moving average is $5.89 and its 200-day moving average is $5.11. FIGS, Inc. has a 1-year low of $3.57 and a 1-year high of $7.05. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 171.42, a price-to-earnings-growth ratio of 4.25 and a beta of 1.34.

FIGS (NYSE:FIGS - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.04 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $144.17 million. During the same period last year, the firm earned $0.01 earnings per share. The business's revenue for the quarter was up 5.8% on a year-over-year basis. On average, research analysts forecast that FIGS, Inc. will post 0.01 earnings per share for the current year.

Hedge Funds Weigh In On FIGS

A number of hedge funds have recently bought and sold shares of FIGS. SG Americas Securities LLC increased its position in shares of FIGS by 88.6% during the first quarter. SG Americas Securities LLC now owns 107,951 shares of the company's stock worth $495,000 after acquiring an additional 50,720 shares in the last quarter. Security Benefit Life Insurance Co. KS bought a new stake in FIGS during the 1st quarter worth approximately $6,962,000. Susquehanna Fundamental Investments LLC bought a new position in shares of FIGS in the 4th quarter worth $1,270,000. Two Sigma Investments LP increased its holdings in shares of FIGS by 151.9% in the 4th quarter. Two Sigma Investments LP now owns 433,432 shares of the company's stock worth $2,683,000 after buying an additional 261,367 shares during the last quarter. Finally, Blueshift Asset Management LLC bought a new position in shares of FIGS during the 1st quarter valued at $700,000. Institutional investors own 92.21% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on FIGS shares. Morgan Stanley upped their target price on FIGS from $4.25 to $5.00 and gave the company an "equal weight" rating in a research note on Monday, July 21st. The Goldman Sachs Group raised their target price on FIGS from $3.75 to $4.50 and gave the company a "sell" rating in a research report on Tuesday, July 22nd. Wall Street Zen raised FIGS from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Barclays reaffirmed a "positive" rating on shares of FIGS in a research report on Tuesday, May 13th. Finally, Telsey Advisory Group reiterated a "market perform" rating and set a $7.00 price objective (up from $5.00) on shares of FIGS in a report on Monday, August 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $5.38.

FIGS Company 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.

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