Charles Schwab Investment Management Inc. Grows Position in FIGS, Inc. $FIGS

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in FIGS, Inc. by 11.6% during Q1, owning a total of 1,043,970 shares valued at approximately $4.79 million.
• Several institutional investors, including SG Americas Securities LLC and Two Sigma Investments LP, significantly expanded their stakes in FIGS, highlighting strong investor interest.
• Research analysts have set a consensus price target of $5.38 for FIGS, with ratings ranging from "strong-buy" to "sell" based on varying outlooks for the company's performance.

Charles Schwab Investment Management Inc. lifted its stake in shares of FIGS, Inc. (NYSE:FIGS - Free Report) by 11.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,043,970 shares of the company's stock after buying an additional 108,788 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.64% of FIGS worth $4,792,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in FIGS. GAMMA Investing LLC grew its position in shares of FIGS by 585.8% during the first quarter. GAMMA Investing LLC now owns 6,536 shares of the company's stock worth $30,000 after buying an additional 5,583 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of FIGS in the first quarter valued at approximately $66,000. Stifel Financial Corp acquired a new stake in shares of FIGS in the fourth quarter valued at approximately $70,000. US Bancorp DE purchased a new stake in shares of FIGS during the first quarter worth approximately $70,000. Finally, Quantinno Capital Management LP purchased a new stake in shares of FIGS during the fourth quarter worth approximately $82,000. 92.21% of the stock is owned by institutional investors and hedge funds.

FIGS Stock Down 1.7%

Shares of FIGS traded down $0.13 during trading hours on Monday, reaching $7.04. 1,156,874 shares of the company traded hands, compared to its average volume of 2,111,832. The stock has a market capitalization of $1.15 billion, a PE ratio of 175.92, a price-to-earnings-growth ratio of 4.52 and a beta of 1.34. FIGS, Inc. has a fifty-two week low of $3.57 and a fifty-two week high of $7.31. The stock has a fifty day simple moving average of $6.33 and a 200 day simple moving average of $5.23.

FIGS (NYSE:FIGS - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.02. FIGS had a return on equity of 1.84% and a net margin of 1.26%.The firm had revenue of $152.64 million for the quarter, compared to analyst estimates of $144.17 million. During the same period last year, the company earned $0.01 EPS. The firm's quarterly revenue was up 5.8% on a year-over-year basis. Research analysts predict that FIGS, Inc. will post 0.01 EPS for the current fiscal year.

Insider Transactions at FIGS

In other FIGS news, CFO Sarah Oughtred sold 99,834 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $6.19, for a total value of $617,972.46. Following the sale, the chief financial officer directly owned 878,058 shares of the company's stock, valued at approximately $5,435,179.02. This trade represents a 10.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Catherine Eva Spear sold 65,866 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $6.88, for a total value of $453,158.08. Following the completion of the sale, the chief executive officer directly owned 1,969,246 shares in the company, valued at approximately $13,548,412.48. The trade was a 3.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 167,661 shares of company stock worth $1,079,857. 29.44% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Barclays restated a "positive" rating on shares of FIGS in a research note on Tuesday, May 13th. The Goldman Sachs Group increased their price objective on 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 FIGS from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Morgan Stanley increased their price objective on FIGS from $4.25 to $5.00 and gave the stock an "equal weight" rating in a research report on Monday, July 21st. Finally, Cowen reiterated a "hold" rating on shares of FIGS in a research report on Friday, August 8th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $5.38.

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.