FIGS (NYSE:FIGS) CEO Sells $900,117.40 in Stock

Key Points

• FIGS CEO Catherine Eva Spear sold 62,335 shares at an average price of $14.44 on April 2 for $900,117.40 under a pre-arranged Rule 10b5-1 plan, reducing her stake by 3.36% to 1,794,964 shares (worth ~$25.92M).
• Strong quarterly beat: FIGS reported Q results with EPS of $0.10 vs. $0.02 consensus and revenue of $201.9M vs. $165.33M, representing 33% year-over-year revenue growth.
• Market context: the stock traded near $13.31, has a market cap of $2.21B and a consensus analyst rating of "Moderate Buy" with a $13.93 price target, while institutional investors own ~92.21% of shares.

FIGS, Inc. (NYSE:FIGS - Get Free Report) CEO Catherine Eva Spear sold 62,335 shares of the firm's stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $14.44, for a total transaction of $900,117.40. Following the completion of the sale, the chief executive officer owned 1,794,964 shares of the company's stock, valued at $25,919,280.16. This trade represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Catherine Eva Spear also recently made the following trade(s):

• On Tuesday, January 6th, Catherine Eva Spear sold 49,734 shares of FIGS stock. The shares were sold at an average price of $11.38, for a total transaction of $565,972.92.

FIGS Stock Performance

NYSE:FIGS traded down $1.35 during mid-day trading on Monday, hitting $13.31. The stock had a trading volume of 5,731,816 shares, compared to its average volume of 3,015,660. FIGS, Inc. has a twelve month low of $3.57 and a twelve month high of $17.48. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 70.05 and a beta of 1.20. The company's 50 day simple moving average is $13.24 and its 200 day simple moving average is $10.90.

FIGS (NYSE:FIGS - Get Free Report) last issued its earnings results on Thursday, February 26th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.08. FIGS had a net margin of 5.43% and a return on equity of 8.41%. The business had revenue of $201.90 million during the quarter, compared to the consensus estimate of $165.33 million. During the same period last year, the business posted $0.01 EPS. FIGS's revenue was up 33.0% on a year-over-year basis. As a group, equities analysts forecast that FIGS, Inc. will post 0.01 earnings per share for the current year.

Institutional Investors Weigh In On FIGS

Several hedge funds have recently bought and sold shares of FIGS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of 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 purchasing an additional 3,276 shares during the period. Woodline Partners LP bought a new position in shares of FIGS during the first quarter worth approximately $3,199,000. Creative Planning increased its holdings in shares of FIGS by 181.3% during the second quarter. Creative Planning now owns 65,740 shares of the company's stock worth $371,000 after purchasing an additional 42,367 shares during the period. Franklin Resources Inc. increased its holdings in shares of FIGS by 6.9% during the second quarter. Franklin Resources Inc. now owns 94,643 shares of the company's stock worth $534,000 after purchasing an additional 6,133 shares during the period. Finally, Prudential Financial Inc. bought a new position in shares of FIGS during the second quarter worth approximately $70,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on FIGS shares. The Goldman Sachs Group upgraded shares of FIGS from a "strong sell" rating to a "hold" rating in a research note on Friday, February 27th. Wolfe Research upgraded shares of FIGS to a "buy" rating in a research report on Wednesday, December 10th. BTIG Research restated a "buy" rating and set a $15.00 price objective on shares of FIGS in a research report on Friday, February 27th. Oppenheimer upgraded shares of FIGS from a "market perform" rating to an "outperform" rating and set a $22.00 price objective for the company in a research report on Friday, March 20th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of FIGS in a research report on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $13.93.

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.

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