Applied Fundamental Research LLC Reduces Stake in FIGS, Inc. (NYSE:FIGS)

Applied Fundamental Research LLC reduced its position in FIGS, Inc. (NYSE:FIGS - Free Report) by 27.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,814,249 shares of the company's stock after selling 672,699 shares during the quarter. FIGS makes up about 7.0% of Applied Fundamental Research LLC's portfolio, making the stock its 8th largest position. Applied Fundamental Research LLC owned 1.12% of FIGS worth $8,327,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC boosted its position in shares of FIGS by 585.8% during the 1st quarter. GAMMA Investing LLC now owns 6,536 shares of the company's stock worth $30,000 after purchasing an additional 5,583 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in FIGS in the first quarter valued at approximately $66,000. Stifel Financial Corp bought a new stake in shares of FIGS during the fourth quarter valued at approximately $70,000. Cibc World Markets Corp bought a new position in shares of FIGS in the 4th quarter worth $75,000. Finally, Quantinno Capital Management LP acquired a new stake in FIGS in the 4th quarter valued at $82,000. Institutional investors own 92.21% of the company's stock.

FIGS Price Performance

NYSE FIGS traded down $0.17 during trading on Friday, reaching $6.00. The company's stock had a trading volume of 2,143,159 shares, compared to its average volume of 2,626,456. The firm has a fifty day moving average of $5.07 and a 200 day moving average of $5.05. The stock has a market capitalization of $974.49 million, a PE ratio of 600.10 and a beta of 1.32. FIGS, Inc. has a one year low of $3.57 and a one year high of $7.06.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on FIGS shares. Barclays reiterated a "positive" rating on shares of FIGS in a report on Tuesday, May 13th. The Goldman Sachs Group reduced their price objective on FIGS from $4.25 to $3.75 and set a "sell" rating for the company in a research note on Tuesday, April 22nd. Morgan Stanley lowered their price target on shares of FIGS from $4.75 to $4.25 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Finally, Telsey Advisory Group reiterated a "market perform" rating and issued a $5.00 target price on shares of FIGS in a research note on Tuesday, May 13th.

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.