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 decreased its position in shares of FIGS, Inc. (NYSE:FIGS - Free Report) by 25.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 187,700 shares of the company's stock after selling 65,700 shares during the quarter. Swiss National Bank owned approximately 0.12% of FIGS worth $862,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC boosted its position in shares of FIGS by 88.6% during the 1st quarter. SG Americas Securities LLC now owns 107,951 shares of the company's stock valued at $495,000 after acquiring an additional 50,720 shares during the last quarter. Security Benefit Life Insurance Co. KS acquired a new position in shares of FIGS during the 1st quarter valued at about $6,962,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of FIGS during the 4th quarter valued at about $1,270,000. Two Sigma Investments LP boosted its position in shares of FIGS by 151.9% during the 4th quarter. Two Sigma Investments LP now owns 433,432 shares of the company's stock valued at $2,683,000 after acquiring an additional 261,367 shares during the last quarter. Finally, Blueshift Asset Management LLC acquired a new position in shares of FIGS during the 1st quarter valued at about $700,000. Institutional investors and hedge funds own 92.21% of the company's stock.

FIGS Stock Down 1.7%

FIGS stock traded down $0.13 during mid-day trading on Friday, hitting $7.04. The company had a trading volume of 1,156,874 shares, compared to its average volume of 2,164,268. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 175.92, a PEG ratio of 4.52 and a beta of 1.34. FIGS, Inc. has a 1 year low of $3.57 and a 1 year high of $7.31. The business has a fifty day moving average of $6.33 and a 200 day moving average of $5.23.

FIGS (NYSE:FIGS - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.02. The business had revenue of $152.64 million during 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 company's revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.01 earnings per share. Equities analysts anticipate that FIGS, Inc. will post 0.01 earnings per share for the current year.

Insider Activity at FIGS

In other news, CEO Catherine Eva Spear sold 65,866 shares of the 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 completion of the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sarah Oughtred sold 99,834 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $6.19, for a total value of $617,972.46. Following the completion of the sale, 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 sold 167,661 shares of company stock valued at $1,079,857 over the last three months. Corporate insiders own 29.44% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on FIGS. Wall Street Zen raised shares of FIGS from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. The Goldman Sachs Group raised their target price on FIGS from $3.75 to $4.50 and gave the company a "sell" rating in a report on Tuesday, July 22nd. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $7.00 target price (up from $5.00) on shares of FIGS in a research report on Monday, August 4th. Cowen reiterated a "hold" rating on shares of FIGS in a research note on Friday, August 8th. Finally, Morgan Stanley boosted their price target 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. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $5.38.

About FIGS

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.