Blueshift Asset Management LLC Purchases New Position in FIGS, Inc. (NYSE:FIGS)

Key Points

• Blueshift Asset Management LLC invested approximately $700,000 in FIGS, Inc., purchasing 152,580 shares, which represents around 0.09% of the company at the end of the first quarter.
• Numerous institutional investors have increased their stakes in FIGS, with 92.21% of the stock currently owned by institutions.
• FIGS, Inc. recorded a stock price of $6.48 with a market capitalization of $1.05 billion and a PE ratio of 648.15.

Blueshift Asset Management LLC bought a new position in shares of FIGS, Inc. (NYSE:FIGS - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 152,580 shares of the company's stock, valued at approximately $700,000. Blueshift Asset Management LLC owned approximately 0.09% of FIGS as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. MetLife Investment Management LLC increased its position in shares of FIGS by 3.1% during the 4th quarter. MetLife Investment Management LLC now owns 78,952 shares of the company's stock worth $489,000 after purchasing an additional 2,355 shares in the last quarter. Malaga Cove Capital LLC increased its position in shares of FIGS by 1.2% during the 4th quarter. Malaga Cove Capital LLC now owns 216,669 shares of the company's stock worth $1,341,000 after purchasing an additional 2,547 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of FIGS by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,943 shares of the company's stock worth $458,000 after purchasing an additional 2,807 shares in the last quarter. Invesco Ltd. grew its holdings in FIGS by 2.7% during the 4th quarter. Invesco Ltd. now owns 145,734 shares of the company's stock worth $902,000 after acquiring an additional 3,879 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in FIGS by 585.8% during the 1st quarter. GAMMA Investing LLC now owns 6,536 shares of the company's stock worth $30,000 after acquiring an additional 5,583 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Morgan Stanley increased their price objective on shares of FIGS from $4.25 to $5.00 and gave the stock an "equal weight" rating in a report on Monday, July 21st. Barclays reissued a "positive" rating on shares of FIGS in a report on Tuesday, May 13th. Telsey Advisory Group reiterated a "market perform" rating and issued a $5.00 price objective on shares of FIGS in a research report on Tuesday, May 13th. Finally, The Goldman Sachs Group upped their target price on shares of FIGS from $3.75 to $4.50 and gave the company a "sell" rating in a research report on Tuesday, July 22nd.

FIGS Trading Down 4.9%

Shares of NYSE:FIGS traded down $0.32 during midday trading on Friday, hitting $6.18. The company had a trading volume of 2,204,546 shares, compared to its average volume of 1,747,281. FIGS, Inc. has a 12 month low of $3.57 and a 12 month high of $7.05. The firm has a fifty day simple moving average of $5.59 and a 200 day simple moving average of $5.08. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of 618.62 and a beta of 1.34.

About FIGS

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.