Cookson Peirce & Co. Inc. Invests $1.23 Million in FIGS, Inc. $FIGS

Key Points

• Cookson Peirce & Co. Inc. opened a new position in FIGS during the fourth quarter, buying 108,620 shares valued at about $1.23 million.
• Institutional ownership remains heavy, with 92.21% of FIGS stock held by hedge funds and other institutions; several firms also significantly increased their stakes.
• FIGS reported better-than-expected quarterly results, posting EPS of $0.03 versus estimates of $0.01 and revenue of $159.9 million, up 28% year over year.

Cookson Peirce & Co. Inc. acquired a new position in shares of FIGS, Inc. (NYSE:FIGS - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 108,620 shares of the company's stock, valued at approximately $1,234,000. Cookson Peirce & Co. Inc. owned approximately 0.07% of FIGS at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of FIGS. BNP Paribas Financial Markets raised its holdings in shares of FIGS by 2,139.7% during the 2nd 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. Ameriprise Financial Inc. raised its holdings in shares of FIGS by 9.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 13,936,468 shares of the company's stock worth $78,602,000 after acquiring an additional 1,144,962 shares in the last quarter. Squarepoint Ops LLC raised its holdings in shares of FIGS by 940.7% during the 2nd quarter. Squarepoint Ops LLC now owns 924,092 shares of the company's stock worth $5,212,000 after acquiring an additional 835,300 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of FIGS by 45.7% during the 3rd quarter. Marshall Wace LLP now owns 2,585,258 shares of the company's stock worth $17,295,000 after acquiring an additional 810,719 shares in the last quarter. Finally, Woodline Partners LP purchased a new stake in shares of FIGS during the 1st quarter worth approximately $3,199,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at FIGS

In other FIGS news, CEO Catherine Eva Spear sold 62,335 shares of the company's stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $14.44, for a total value of $900,117.40. Following the transaction, the chief executive officer owned 1,794,964 shares of the company's stock, valued at $25,919,280.16. This represents a 3.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Heather L. Hasson sold 32,385 shares of FIGS stock in a transaction on Monday, May 4th. The stock was sold at an average price of $14.33, for a total value of $464,077.05. Following the sale, the chairman owned 1,433,807 shares of the company's stock, valued at approximately $20,546,454.31. This trade represents a 2.21% 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. In the last 90 days, insiders have sold 129,189 shares of company stock worth $1,859,331. Company insiders own 27.06% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on FIGS. Telsey Advisory Group upped their price objective on FIGS to $17.00 and gave the stock a "market perform" rating in a report on Thursday, March 12th. Zacks Research cut FIGS from a "strong-buy" rating to a "hold" rating in a report on Friday, May 8th. Oppenheimer raised FIGS from a "market perform" rating to an "outperform" rating and set a $22.00 price objective on the stock in a report on Friday, March 20th. KeyCorp upped their price objective on FIGS to $19.00 and gave the stock an "overweight" rating in a report on Tuesday, April 28th. Finally, Barclays raised FIGS from a "hold" rating to a "strong-buy" rating in a report on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $15.93.

FIGS Stock Performance

NYSE:FIGS opened at $11.86 on Monday. The stock's fifty day moving average is $13.74 and its 200 day moving average is $12.64. FIGS, Inc. has a fifty-two week low of $4.98 and a fifty-two week high of $17.48. The firm has a market capitalization of $1.98 billion, a PE ratio of 53.89 and a beta of 1.04.

FIGS (NYSE:FIGS - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.02. FIGS had a return on equity of 9.69% and a net margin of 6.10%.The company had revenue of $159.90 million for the quarter, compared to analyst estimates of $153.15 million. The business's revenue was up 28.0% compared to the same quarter last year. Equities analysts forecast that FIGS, Inc. will post 0.25 EPS for the current year.

FIGS 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.

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