Vanguard Group Inc. Sells 105,414 Shares of FIGS, Inc. $FIGS

Key Points

• Vanguard Group Inc. reduced its stake in FIGS, Inc. by 0.8% during Q1, owning 12,694,315 shares valued at approximately $58.27 million.
• Institutional investors currently hold 92.21% of FIGS stock, with significant stake increases from GAMMA Investing LLC and new positions acquired by multiple other funds.
• FIGS reported better-than-expected earnings of $0.04 per share for the last quarter, surpassing consensus estimates and showing a year-over-year revenue increase of 5.8%.

Vanguard Group Inc. lowered its position in shares of FIGS, Inc. (NYSE:FIGS - Free Report) by 0.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 12,694,315 shares of the company's stock after selling 105,414 shares during the period. Vanguard Group Inc. owned 7.81% of FIGS worth $58,267,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of FIGS. MetLife Investment Management LLC raised its holdings 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 last quarter. Malaga Cove Capital LLC increased its position in FIGS by 1.2% in the 4th quarter. Malaga Cove Capital LLC now owns 216,669 shares of the company's stock valued at $1,341,000 after acquiring an additional 2,547 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in FIGS by 3.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,943 shares of the company's stock valued at $458,000 after acquiring an additional 2,807 shares during the period. Invesco Ltd. increased its position in FIGS by 2.7% in the 4th quarter. Invesco Ltd. now owns 145,734 shares of the company's stock valued at $902,000 after acquiring an additional 3,879 shares during the period. Finally, GAMMA Investing LLC lifted its position in FIGS by 585.8% in the first quarter. GAMMA Investing LLC now owns 6,536 shares of the company's stock worth $30,000 after purchasing an additional 5,583 shares during the period. 92.21% of the stock is currently owned by institutional investors.

FIGS Price Performance

FIGS traded down $0.13 during midday trading on Friday, hitting $7.04. 1,156,874 shares of the company's stock traded hands, compared to its average volume of 2,164,268. The company has a market cap of $1.15 billion, a PE ratio of 175.92, a price-to-earnings-growth ratio of 4.59 and a beta of 1.34. The stock's fifty day simple moving average is $6.33 and its 200-day simple moving average is $5.23. FIGS, Inc. has a one year low of $3.57 and a one year high of $7.31.

FIGS (NYSE:FIGS - Get Free Report) last issued 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 firm had revenue of $152.64 million for the quarter, compared to analyst estimates of $144.17 million. FIGS had a net margin of 1.26% and a return on equity of 1.84%. The company's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.01 earnings per share. On average, research analysts expect that FIGS, Inc. will post 0.01 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on FIGS shares. The Goldman Sachs Group upped their price target on shares of FIGS from $3.75 to $4.50 and gave the company a "sell" rating in a report on Tuesday, July 22nd. Wall Street Zen upgraded shares of FIGS from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Morgan Stanley lifted their price target on shares of FIGS from $4.25 to $5.00 and gave the stock an "equal weight" rating in a research report on Monday, July 21st. Telsey Advisory Group restated a "market perform" rating and issued a $7.00 price target (up previously from $5.00) on shares of FIGS in a research report on Monday, August 4th. Finally, Barclays restated a "positive" rating on shares of FIGS in a research report on Tuesday, May 13th. One investment 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's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $5.38.

Insider Buying and Selling

In other FIGS news, CEO Catherine Eva Spear sold 65,866 shares of FIGS 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 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 position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Sarah Oughtred sold 99,834 shares of FIGS stock in a transaction that occurred 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 completion of the transaction, the chief financial officer directly owned 878,058 shares in the company, valued at approximately $5,435,179.02. This represents 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 in the last ninety days. Company insiders own 29.44% of the company's stock.

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.