FIGS, Inc. $FIGS Shares Purchased by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial Inc. increased its stake in FIGS, Inc. by 5% during the 1st quarter, owning approximately 7.87% of the company, worth about $58.7 million.
• FIGS reported quarterly earnings of $0.04 EPS, surpassing analysts' estimates, with revenue of $152.64 million, a 5.8% increase year-over-year.
• Insider selling was observed, with CFO Sarah Oughtred and CEO Catherine Eva Spear each reducing their holdings, representing a 10.21% and 3.24% decrease, respectively.

Ameriprise Financial Inc. boosted its stake in shares of FIGS, Inc. (NYSE:FIGS - Free Report) by 5.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,791,506 shares of the company's stock after purchasing an additional 603,340 shares during the quarter. Ameriprise Financial Inc. owned approximately 7.87% of FIGS worth $58,713,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Bamco Inc. NY increased its holdings in FIGS by 2.7% during the 4th quarter. Bamco Inc. NY now owns 30,837,759 shares of the company's stock worth $190,886,000 after purchasing an additional 807,681 shares during the period. Dimensional Fund Advisors LP increased its holdings in FIGS by 23.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,350,572 shares of the company's stock worth $26,931,000 after purchasing an additional 827,149 shares during the period. Security Benefit Life Insurance Co. KS purchased a new stake in FIGS during the 1st quarter worth about $6,962,000. Northern Trust Corp increased its holdings in FIGS by 5.8% during the 4th quarter. Northern Trust Corp now owns 1,273,290 shares of the company's stock worth $7,882,000 after purchasing an additional 69,522 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in FIGS by 11.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,043,970 shares of the company's stock worth $4,792,000 after purchasing an additional 108,788 shares during the period. Hedge funds and other institutional investors own 92.21% of the company's stock.

Insider Buying and Selling

In related news, CFO Sarah Oughtred sold 99,834 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $6.19, for a total transaction of $617,972.46. Following the transaction, the chief financial officer owned 878,058 shares in the company, valued at $5,435,179.02. This trade represents a 10.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Catherine Eva Spear sold 65,866 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $6.88, for a total value of $453,158.08. Following the transaction, the chief executive officer owned 1,969,246 shares in the company, valued at $13,548,412.48. This represents a 3.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 167,661 shares of company stock worth $1,079,857 in the last 90 days. 29.44% of the stock is currently owned by company insiders.

FIGS Stock Up 1.2%

NYSE:FIGS opened at $7.09 on Thursday. The stock's 50 day moving average price is $6.26 and its 200 day moving average price is $5.20. The company has a market capitalization of $1.16 billion, a PE ratio of 177.17, a P/E/G ratio of 4.49 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 released 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. The firm had revenue of $152.64 million for the quarter, compared to the consensus estimate of $144.17 million. FIGS had a return on equity of 1.84% and a net margin of 1.26%.The firm's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.01 EPS. As a group, sell-side analysts anticipate that FIGS, Inc. will post 0.01 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on FIGS. Barclays restated a "positive" rating on shares of FIGS in a report on Tuesday, May 13th. Morgan Stanley upped their price target on FIGS from $4.25 to $5.00 and gave the stock an "equal weight" rating in a report on Monday, July 21st. Wall Street Zen upgraded FIGS from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. The Goldman Sachs Group increased their price objective on FIGS from $3.75 to $4.50 and gave the company a "sell" rating in a report on Tuesday, July 22nd. Finally, Cowen reiterated a "hold" rating on shares of FIGS in a report on Friday, August 8th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $5.38.

FIGS Company 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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