FIGS (NYSE:FIGS) Trading Down 5.5% - Time to Sell?

Key Points

• Shares slid 5.5% intraday to $14.55 on Monday with volume (~488k) about 85% below average; the stock has a $2.34B market cap, a P/E of ~74, and 50/200-day moving averages of $14.85/$11.95.
• FIGS beat the quarter: EPS $0.10 vs $0.02 estimate and revenue $201.9M vs $165.3M, with revenue up 33% year-over-year and analysts forecasting about $0.24 EPS for the fiscal year.
• Insiders sold heavily (675,098 shares worth ~$10.9M last quarter, including founder Heather Hasson’s 556,327-share sale), while analyst sentiment is mixed-to-positive with an average rating of Moderate Buy and a $15.93 average price target amid several recent upgrades.

FIGS, Inc. (NYSE:FIGS - Get Free Report) was down 5.5% during mid-day trading on Monday . The company traded as low as $14.17 and last traded at $14.55. Approximately 488,199 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 3,225,306 shares. The stock had previously closed at $15.40.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on FIGS shares. The Goldman Sachs Group raised shares of FIGS from a "strong sell" rating to a "hold" rating in a report on Friday, February 27th. KeyCorp raised their price target on shares of FIGS to $19.00 and gave the stock an "overweight" rating in a report on Tuesday, April 28th. BTIG Research reaffirmed a "buy" rating and issued a $20.00 price target on shares of FIGS in a report on Friday, April 24th. Telsey Advisory Group increased their price objective on shares of FIGS to $17.00 and gave the stock a "market perform" rating in a research note on Thursday, March 12th. Finally, Oppenheimer upgraded shares of FIGS from a "market perform" rating to an "outperform" rating and set a $22.00 price objective on the stock in a research note on Friday, March 20th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, FIGS presently has an average rating of "Moderate Buy" and an average target price of $15.93.

FIGS Stock Down 8.7%

The stock has a market cap of $2.34 billion, a price-to-earnings ratio of 73.98 and a beta of 1.12. The stock's 50 day moving average price is $14.85 and its two-hundred day moving average price is $11.95.

FIGS (NYSE:FIGS - Get Free Report) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.02 by $0.08. The firm had revenue of $201.90 million for the quarter, compared to analyst estimates of $165.33 million. FIGS had a net margin of 5.43% and a return on equity of 8.41%. The business's quarterly revenue was up 33.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.01 earnings per share. On average, analysts predict that FIGS, Inc. will post 0.24 earnings per share for the current fiscal year.

Insider Activity at FIGS

In other FIGS news, insider Heather L. Hasson sold 556,327 shares of the stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $16.85, for a total transaction of $9,374,109.95. Following the transaction, the insider directly owned 1,251,967 shares of the company's stock, valued at $21,095,643.95. This trade represents a 30.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Sarah Oughtred sold 10,872 shares of the stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $14.44, for a total transaction of $156,991.68. Following the transaction, the chief financial officer directly owned 1,153,388 shares in the company, valued at approximately $16,654,922.72. The trade was a 0.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 675,098 shares of company stock worth $10,912,375. 29.44% of the stock is owned by company insiders.

Hedge Funds Weigh In On FIGS

Several hedge funds and other institutional investors have recently modified their holdings of FIGS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position 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 valued at $354,000 after acquiring an additional 3,276 shares during the last quarter. Woodline Partners LP acquired a new stake in shares of FIGS during the first quarter valued at about $3,199,000. Creative Planning increased its position in shares of FIGS by 181.3% during the second quarter. Creative Planning now owns 65,740 shares of the company's stock valued at $371,000 after acquiring an additional 42,367 shares during the last quarter. Prudential Financial Inc. acquired a new stake in shares of FIGS during the second quarter valued at about $70,000. Finally, Russell Investments Group Ltd. increased its position in shares of FIGS by 102.4% during the second quarter. Russell Investments Group Ltd. now owns 147,440 shares of the company's stock valued at $832,000 after acquiring an additional 74,578 shares during the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

FIGS Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.