FIGS, Inc. $FIGS Shares Sold by Swiss National Bank

Key Points

• The Swiss National Bank reduced its holdings in FIGS, Inc. by 25.9%, owning 187,700 shares valued at approximately $862,000 after selling 65,700 shares during the first quarter.
• Wall Street analysts generally rate FIGS stock as a "Hold"** with a consensus price target of $5.38, although Telsey Advisory Group recently raised their price target to $7.00.
• Insider transactions revealed that CEO Catherine Eva Spear and CFO Sarah Oughtred sold a combined 165,700 shares of FIGS stock, resulting in significant decreases in their ownership stakes.

Swiss National Bank lowered its stake in shares of FIGS, Inc. (NYSE:FIGS - Free Report) by 25.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,700 shares of the company's stock after selling 65,700 shares during the quarter. Swiss National Bank owned about 0.12% of FIGS worth $862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Fayez Sarofim & Co purchased a new stake in shares of FIGS during the first quarter valued at about $230,000. Charles Schwab Investment Management Inc. grew its position in shares of FIGS by 11.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,043,970 shares of the company's stock worth $4,792,000 after buying an additional 108,788 shares during the last quarter. Malaga Cove Capital LLC raised its stake in shares of FIGS by 57.1% during the 1st quarter. Malaga Cove Capital LLC now owns 340,438 shares of the company's stock worth $1,563,000 after acquiring an additional 123,769 shares in the last quarter. Blueshift Asset Management LLC bought a new position in shares of FIGS during the 1st quarter worth approximately $700,000. Finally, US Bancorp DE purchased a new stake in FIGS during the first quarter valued at approximately $70,000. Hedge funds and other institutional investors own 92.21% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on FIGS shares. Cowen reaffirmed a "hold" rating on shares of FIGS in a report on Friday, August 8th. Telsey Advisory Group reiterated a "market perform" rating and set a $7.00 price objective (up previously from $5.00) on shares of FIGS in a report on Monday, August 4th. Barclays restated a "positive" rating on shares of FIGS in a research note on Tuesday, May 13th. Morgan Stanley upped their target price on FIGS from $4.25 to $5.00 and gave the company an "equal weight" rating in a research report on Monday, July 21st. Finally, Wall Street Zen upgraded FIGS from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th. 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 MarketBeat.com, FIGS currently has an average rating of "Hold" and an average price target of $5.38.

Insider Buying and Selling

In related news, CFO Sarah Oughtred sold 99,834 shares of the business's stock in a transaction 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 completion of the transaction, the chief financial officer directly owned 878,058 shares in the company, valued at $5,435,179.02. The trade was a 10.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Catherine Eva Spear sold 65,866 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $6.88, for a total value 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 approximately $13,548,412.48. This trade represents a 3.24% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 167,661 shares of company stock worth $1,079,857. 29.44% of the stock is owned by insiders.

FIGS Stock Performance

Shares of NYSE FIGS traded down $0.13 during mid-day trading on Monday, hitting $7.04. The stock had a trading volume of 1,156,874 shares, compared to its average volume of 2,111,832. The firm has a market cap of $1.15 billion, a PE ratio of 175.92, a PEG ratio of 4.52 and a beta of 1.34. The company has a 50 day moving average of $6.37 and a two-hundred day moving average of $5.24. FIGS, Inc. has a twelve month low of $3.57 and a twelve month high of $7.31.

FIGS (NYSE:FIGS - Get Free Report) last issued its quarterly earnings results 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 analysts' expectations of $144.17 million. FIGS had a return on equity of 1.84% and a net margin of 1.26%.The firm's revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.01 EPS. Equities research analysts predict that FIGS, Inc. will post 0.01 EPS for the current fiscal year.

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.