FIGS, Inc. $FIGS Shares Acquired 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. raised its holdings in shares of FIGS, Inc. (NYSE:FIGS - Free Report) by 5.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,791,506 shares of the company's stock after buying an additional 603,340 shares during the period. Ameriprise Financial Inc. owned about 7.87% of FIGS worth $58,713,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. MetLife Investment Management LLC boosted its position in shares of FIGS by 3.1% during the fourth quarter. MetLife Investment Management LLC now owns 78,952 shares of the company's stock valued at $489,000 after buying an additional 2,355 shares during the period. Malaga Cove Capital LLC boosted its position in shares of FIGS by 1.2% during the fourth quarter. Malaga Cove Capital LLC now owns 216,669 shares of the company's stock valued at $1,341,000 after buying an additional 2,547 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of FIGS by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,943 shares of the company's stock valued at $458,000 after buying an additional 2,807 shares during the period. Invesco Ltd. boosted its position in shares of FIGS by 2.7% during the fourth quarter. Invesco Ltd. now owns 145,734 shares of the company's stock valued at $902,000 after buying an additional 3,879 shares during the period. Finally, GAMMA Investing LLC boosted 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 valued at $30,000 after buying an additional 5,583 shares during the period. Hedge funds and other institutional investors own 92.21% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FIGS. Barclays reaffirmed a "positive" rating on shares of FIGS in a research note on Tuesday, May 13th. Morgan Stanley lifted their price target on shares of FIGS from $4.25 to $5.00 and gave the company an "equal weight" rating in a research note on Monday, July 21st. Telsey Advisory Group reaffirmed a "market perform" rating and set a $7.00 price target (up previously from $5.00) on shares of FIGS in a research note on Monday, August 4th. Cowen reaffirmed a "hold" rating on shares of FIGS in a research note on Friday, August 8th. Finally, The Goldman Sachs Group lifted their price target on shares of FIGS from $3.75 to $4.50 and gave the company a "sell" rating in a research note on Tuesday, July 22nd. One research 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 MarketBeat, FIGS presently has a consensus rating of "Hold" and a consensus target price of $5.38.

FIGS Stock Performance

NYSE:FIGS traded down $0.35 during trading hours on Tuesday, reaching $6.71. The company's stock had a trading volume of 2,270,072 shares, compared to its average volume of 2,027,078. The company has a market capitalization of $1.09 billion, a P/E ratio of 167.67, a price-to-earnings-growth ratio of 4.52 and a beta of 1.34. FIGS, Inc. has a 12 month low of $3.57 and a 12 month high of $7.31. The stock has a 50 day moving average price of $6.39 and a two-hundred day moving average price of $5.25.

FIGS (NYSE:FIGS - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.04 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.02. The company had revenue of $152.64 million during 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%. FIGS's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.01 earnings per share. As a group, analysts predict that FIGS, Inc. will post 0.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Catherine Eva Spear sold 65,866 shares of the company's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $6.88, for a total transaction of $453,158.08. Following the transaction, the chief executive officer directly owned 1,969,246 shares of the company's stock, valued at approximately $13,548,412.48. This represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Sarah Oughtred sold 99,834 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $6.19, for a total value of $617,972.46. Following the transaction, the chief financial officer directly owned 878,058 shares in the company, valued at approximately $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. Corporate insiders own 29.44% of the company's stock.

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.