EntryPoint Capital LLC Increases Stake in FIGS, Inc. $FIGS

Key Points

• EntryPoint Capital LLC increased its stake in FIGS, Inc. by 232.0%, now owning 115,030 shares valued at approximately $528,000.
• FIGS, Inc. reported earnings of $0.04 per share for the quarter, beating estimates, along with a revenue of $152.64 million, representing a year-over-year growth of 5.8%.
• Institutional investors hold a significant majority of FIGS' shares, with 92.21% ownership, indicating strong interest from the financial community.

EntryPoint Capital LLC lifted its stake in shares of FIGS, Inc. (NYSE:FIGS - Free Report) by 232.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 115,030 shares of the company's stock after buying an additional 80,382 shares during the quarter. EntryPoint Capital LLC owned about 0.07% of FIGS worth $528,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. GAMMA Investing LLC boosted its stake in 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 acquiring an additional 5,583 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in FIGS during the first quarter worth about $66,000. Stifel Financial Corp bought a new stake in FIGS during the fourth quarter worth about $70,000. US Bancorp DE bought a new stake in FIGS during the first quarter worth about $70,000. Finally, Quantinno Capital Management LP bought a new stake in FIGS during the fourth quarter worth about $82,000. Hedge funds and other institutional investors own 92.21% of the company's stock.

FIGS Stock Performance

Shares of NYSE FIGS opened at $7.0850 on Wednesday. The firm's 50 day moving average price is $6.04 and its 200-day moving average price is $5.14. The company has a market cap of $1.16 billion, a PE ratio of 177.17, a P/E/G ratio of 4.51 and a beta of 1.34. FIGS, Inc. has a 52-week low of $3.57 and a 52-week high of $7.31.

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

Insider Activity at FIGS

In other news, CEO Catherine Eva Spear sold 65,866 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $6.88, for a total transaction of $453,158.08. Following the completion of the transaction, the chief executive officer directly owned 1,969,246 shares of the company's stock, valued at $13,548,412.48. The trade was a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sarah Oughtred sold 99,834 shares of the business's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $6.19, for a total transaction of $617,972.46. Following the transaction, the chief financial officer directly owned 878,058 shares of the company's stock, valued at $5,435,179.02. The trade was a 10.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 167,661 shares of company stock valued at $1,079,857 over the last three months. 29.44% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently commented on FIGS. Wall Street Zen raised shares of FIGS from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Morgan Stanley boosted their price objective on shares of FIGS from $4.25 to $5.00 and gave the stock an "equal weight" rating in a research note on Monday, July 21st. The Goldman Sachs Group boosted their price objective on shares of FIGS from $3.75 to $4.50 and gave the stock a "sell" rating in a research note on Tuesday, July 22nd. Barclays reissued a "positive" rating on shares of FIGS in a research note on Tuesday, May 13th. Finally, Telsey Advisory Group reissued a "market perform" rating and set a $7.00 price objective (up previously from $5.00) on shares of FIGS in a research note on Monday, August 4th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $5.38.

FIGS Profile

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.

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