Bank of New York Mellon Corp Decreases Stock Holdings in FIGS, Inc. $FIGS

Key Points

• Bank of New York Mellon cut its FIGS stake by 73.9% in the first quarter, selling 764,418 shares and retaining 269,409 shares worth approximately $3.98 million.
• Institutional investors collectively own 92.21% of FIGS, although several major funds—including Ameriprise Financial, Marshall Wace, Geode Capital and State Street—expanded their positions.
• FIGS reported quarterly revenue and earnings above analyst expectations, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $15.93 versus the stock’s $11.18 opening price.

Bank of New York Mellon Corp reduced its holdings in shares of FIGS, Inc. (NYSE:FIGS - Free Report) by 73.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 269,409 shares of the company's stock after selling 764,418 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.16% of FIGS worth $3,979,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ameriprise Financial Inc. increased its holdings in FIGS by 9.0% during the second quarter. Ameriprise Financial Inc. now owns 13,936,468 shares of the company's stock worth $78,602,000 after buying an additional 1,144,962 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of FIGS by 1.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,417,008 shares of the company's stock worth $29,549,000 after purchasing an additional 70,660 shares during the period. Marshall Wace LLP raised its holdings in shares of FIGS by 66.2% in the 4th quarter. Marshall Wace LLP now owns 4,297,868 shares of the company's stock worth $48,824,000 after purchasing an additional 1,712,610 shares during the period. Geode Capital Management LLC lifted its stake in FIGS by 5.2% in the fourth quarter. Geode Capital Management LLC now owns 2,957,667 shares of the company's stock valued at $33,608,000 after purchasing an additional 145,270 shares during the last quarter. Finally, State Street Corp lifted its stake in FIGS by 3.9% in the fourth quarter. State Street Corp now owns 2,429,194 shares of the company's stock valued at $27,596,000 after purchasing an additional 90,568 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company's stock.

FIGS Stock Performance

Shares of FIGS stock opened at $11.18 on Friday. FIGS, Inc. has a 52-week low of $6.07 and a 52-week high of $17.48. The company has a market capitalization of $1.87 billion, a PE ratio of 50.83 and a beta of 1.03. The business's fifty day moving average is $10.87 and its 200 day moving average is $12.49.

FIGS (NYSE:FIGS - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02. The business had revenue of $159.90 million during the quarter, compared to analysts' expectations of $153.15 million. FIGS had a return on equity of 9.69% and a net margin of 6.10%.The firm's revenue was up 28.0% on a year-over-year basis. On average, sell-side analysts forecast that FIGS, Inc. will post 0.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FIGS. Weiss Ratings downgraded FIGS from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 13th. Morgan Stanley upped their price target on FIGS from $8.00 to $15.00 and gave the company an "equal weight" rating in a research report on Monday, April 13th. Zacks Research downgraded FIGS from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 8th. BTIG Research reissued a "buy" rating and issued a $20.00 price objective on shares of FIGS in a report on Friday, April 24th. Finally, KeyCorp reissued an "overweight" rating on shares of FIGS in a report on Tuesday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $15.93.

Key Headlines Impacting FIGS

Here are the key news stories impacting FIGS this week:

• Positive Sentiment: Quarterly results exceeded expectations. FIGS reported second-quarter revenue of $196.6 million, up 28.8% year over year and above the $186.2 million analyst estimate. Reported earnings also beat consensus, with sources citing EPS of $0.11 to $0.15 versus expectations of $0.07, compared with $0.04 a year earlier. FIGS Releases Second Quarter 2026 Financial Results
• Positive Sentiment: Full-year revenue guidance was above Wall Street expectations. FIGS issued fiscal 2026 revenue guidance of approximately $757.3 million, compared with the analyst consensus of $729.1 million. The outlook suggests management expects continued demand and growth momentum. FIGS Q2 Earnings and Revenues Beat Estimates
• Positive Sentiment: Growth was broad enough to support the positive reaction. The earnings coverage highlighted FIGS’s product innovation, international expansion and improving demand as key contributors to performance, reinforcing the company’s growth narrative. FIGS Q2 Earnings Key Metrics
• Neutral Sentiment: Investors should monitor profitability and costs. Ahead of the report, analysts identified tariffs and freight expenses as potential pressures on margins. Although FIGS posted a 6.1% net margin and 9.69% return on equity in the quarter, future cost trends remain important given the stock’s elevated valuation.

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.

Want to see what other hedge funds are holding FIGS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FIGS, Inc. (NYSE:FIGS - Free Report).

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.

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