Jacobs Levy Equity Management Inc. Invests $3.73 Million in FIGS, Inc. $FIGS

Key Points

• Jacobs Levy Equity Management Inc. has acquired a new position in FIGS, Inc. during the first quarter, purchasing 811,942 shares valued at approximately $3.7 million.
• Institutional investors own 92.21% of the company's stock, with GAMMA Investing LLC significantly increasing its stake by 585.8%.
• FIGS reported Q2 earnings of $0.04 per share, surpassing expectations, with year-over-year revenue growth of 5.8%.

Jacobs Levy Equity Management Inc. purchased a new position in shares of FIGS, Inc. (NYSE:FIGS - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 811,942 shares of the company's stock, valued at approximately $3,727,000. Jacobs Levy Equity Management Inc. owned 0.50% of FIGS at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC grew 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 buying an additional 5,583 shares during the period. Stifel Financial Corp bought a new stake in shares of FIGS in the fourth quarter worth $70,000. Quantinno Capital Management LP bought a new stake in shares of FIGS in the fourth quarter worth $82,000. Teacher Retirement System of Texas bought a new stake in FIGS during the first quarter worth $66,000. Finally, US Bancorp DE bought a new stake in FIGS during the first quarter worth $70,000. Institutional investors and hedge funds own 92.21% of the company's stock.

Analyst Upgrades and Downgrades

FIGS has been the topic of several analyst reports. Cowen reaffirmed a "hold" rating on shares of FIGS in a research report on Friday, August 8th. Morgan Stanley upped 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. The Goldman Sachs Group upped their price objective 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 downgraded shares of FIGS from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. Finally, Telsey Advisory Group restated a "market perform" rating and issued a $7.00 price target (up from $5.00) on shares of FIGS in a research note on Monday, August 4th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, FIGS has an average rating of "Hold" and an average target price of $5.38.

Insider Buying and Selling

In other news, CEO Catherine Eva Spear sold 65,866 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $6.88, for a total transaction 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. This trade represents a 3.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Sarah Oughtred sold 99,834 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $6.19, for a total transaction of $617,972.46. Following the sale, the chief financial officer directly owned 878,058 shares of the company's stock, valued at approximately $5,435,179.02. This trade represents a 10.21% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 29.44% of the company's stock.

FIGS Trading Down 3.0%

NYSE:FIGS traded down $0.22 on Friday, reaching $7.08. 1,482,612 shares of the stock traded hands, compared to its average volume of 1,829,789. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 177.04, a price-to-earnings-growth ratio of 4.68 and a beta of 1.34. The company's 50 day moving average is $6.56 and its 200-day moving average is $5.33. FIGS, Inc. has a 1-year low of $3.57 and a 1-year high of $7.31.

FIGS (NYSE:FIGS - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates 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 net margin of 1.26% and a return on equity of 1.84%. The company's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.01 EPS. On average, equities research analysts forecast that FIGS, Inc. will post 0.01 EPS for the current fiscal year.

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.