Goldman Sachs Group Inc. Sells 292,202 Shares of FIGS, Inc. $FIGS

Key Points

• Goldman Sachs Group Inc. reduced its holdings in FIGS, Inc. by 31.5% during the first quarter, owning approximately $2.9 million worth of shares after selling 292,202.
• Insider activity saw CEO Catherine Eva Spear and CFO Sarah Oughtred sell significant portions of their shares, resulting in a 3.24% and 10.21% decrease in their respective holdings.
• Recent analyst reports show mixed ratings for FIGS, with a consensus rating of "Hold" and a price target range varying from $4.25 to $7.00.

Goldman Sachs Group Inc. lessened its holdings in shares of FIGS, Inc. (NYSE:FIGS - Free Report) by 31.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 635,118 shares of the company's stock after selling 292,202 shares during the quarter. Goldman Sachs Group Inc. owned about 0.39% of FIGS worth $2,915,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Strs Ohio acquired a new position in FIGS during the 1st quarter worth $460,000. Woodline Partners LP acquired a new position in shares of FIGS in the 1st quarter worth $3,199,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of FIGS by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 77,219 shares of the company's stock worth $354,000 after acquiring an additional 3,276 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of FIGS in the 1st quarter worth $3,727,000. Finally, Vident Advisory LLC grew its holdings in shares of FIGS by 298.6% in the 1st quarter. Vident Advisory LLC now owns 65,010 shares of the company's stock worth $298,000 after acquiring an additional 48,701 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company's stock.

FIGS Price Performance

FIGS traded up $0.01 during trading on Tuesday, reaching $6.88. 233,256 shares of the stock traded hands, compared to its average volume of 2,052,122. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 171.92, a price-to-earnings-growth ratio of 4.66 and a beta of 1.34. FIGS, Inc. has a fifty-two week low of $3.57 and a fifty-two week high of $7.54. The stock's 50-day simple moving average is $6.72 and its two-hundred day simple moving average is $5.43.

FIGS (NYSE:FIGS - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.02. The firm 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 business'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. Research analysts anticipate that FIGS, Inc. will post 0.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on FIGS. The Goldman Sachs Group raised their target price on FIGS from $3.75 to $4.50 and gave the stock a "sell" rating in a research report on Tuesday, July 22nd. Wall Street Zen raised FIGS from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Cowen reaffirmed a "hold" rating on shares of FIGS in a research report on Friday, August 8th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $7.00 target price (up previously from $5.00) on shares of FIGS in a research report on Monday, August 4th. Finally, Morgan Stanley raised their target price on FIGS from $4.25 to $5.00 and gave the stock an "equal weight" rating in a research report on Monday, July 21st. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, FIGS presently has an average rating of "Hold" and a consensus price target of $5.38.

Insider Transactions at FIGS

In other FIGS news, CEO Catherine Eva Spear sold 65,866 shares of the business's stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sarah Oughtred sold 99,834 shares of the business's stock in a transaction dated 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 sale, the chief financial officer directly owned 878,058 shares of the company's stock, valued at $5,435,179.02. This represents a 10.21% decrease in their position. The disclosure for this sale can be found here. 29.44% of the stock is owned by insiders.

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.