FIGS (NYSE:FIGS) Sets New 52-Week High - Still a Buy?

Key Points

• FIGS, Inc. achieved a new 52-week high, reaching $7.33 during trading, with a closing price of $7.14.
• Analysts have mixed sentiments on FIGS, with price targets ranging from $4.50 to $5.38, and an overall consensus rating of "Hold."
• Insiders, including the CEO and CFO, have sold significant shares in recent transactions, indicating a potential decrease in their positions within the company.

FIGS, Inc. (NYSE:FIGS - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $7.33 and last traded at $7.14, with a volume of 1312 shares trading hands. The stock had previously closed at $7.12.

Analysts Set New Price Targets

FIGS has been the subject of several recent analyst reports. Cowen reiterated a "hold" rating on shares of FIGS in a research note on Friday, August 8th. The Goldman Sachs Group lifted their target price on shares of FIGS from $3.75 to $4.50 and gave the stock a "sell" rating in a research report on Tuesday, July 22nd. Wall Street Zen upgraded shares of FIGS from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Barclays reissued a "positive" rating on shares of FIGS in a research note on Tuesday, May 13th. Finally, Morgan Stanley raised their price objective on shares of FIGS from $4.25 to $5.00 and gave the stock an "equal weight" rating in a research note on Monday, July 21st. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $5.38.

FIGS Price Performance

The business's 50-day moving average price is $6.16 and its two-hundred day moving average price is $5.17. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 176.17, a price-to-earnings-growth ratio of 4.57 and a beta of 1.34.

FIGS (NYSE:FIGS - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.02 by $0.02. The business had revenue of $152.64 million during the quarter, compared to analyst estimates of $144.17 million. FIGS had a net margin of 1.26% and a return on equity of 1.84%. The company's revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.01 earnings per share. As a group, sell-side analysts forecast that FIGS, Inc. will post 0.01 earnings per share for the current year.

Insider Activity at FIGS

In other FIGS news, CEO Catherine Eva Spear sold 65,866 shares of FIGS stock in a transaction on Wednesday, August 13th. The shares were 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 trade represents a 3.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Sarah Oughtred sold 99,834 shares of FIGS stock in a transaction on Monday, August 4th. The shares were sold at an average price of $6.19, for a total transaction of $617,972.46. Following the completion of the transaction, the chief financial officer owned 878,058 shares in the company, valued at approximately $5,435,179.02. This trade represents a 10.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 167,661 shares of company stock valued at $1,079,857 in the last ninety days. 29.44% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On FIGS

A number of hedge funds have recently made changes to their positions in FIGS. Ameriprise Financial Inc. boosted its holdings in shares of FIGS by 37.9% in the 4th quarter. Ameriprise Financial Inc. now owns 12,188,166 shares of the company's stock valued at $75,445,000 after purchasing an additional 3,352,846 shares during the last quarter. Security Benefit Life Insurance Co. KS acquired a new position in shares of FIGS in the 1st quarter valued at $6,962,000. Bamco Inc. NY increased its position in shares of FIGS by 2.2% in the second quarter. Bamco Inc. NY now owns 59,974,407 shares of the company's stock worth $338,256,000 after acquiring an additional 1,302,823 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of FIGS by 2,139.7% in the second quarter. BNP Paribas Financial Markets now owns 1,307,468 shares of the company's stock worth $7,374,000 after acquiring an additional 1,249,091 shares in the last quarter. Finally, Pacer Advisors Inc. acquired a new stake in shares of FIGS in the first quarter worth $4,640,000. Institutional investors and hedge funds own 92.21% of the company's stock.

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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