Principal Financial Group Inc. Acquires Shares of 217,717 FIGS, Inc. $FIGS

Key Points

• Principal Financial Group acquired 217,717 FIGS shares worth approximately $3.2 million, while institutional investors collectively own 92.21% of the company.
• FIGS reported quarterly revenue of $159.9 million, up 28% year over year, and earnings per share of $0.03, exceeding analysts’ $0.01 estimate.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $15.93, compared with the stock’s reported price of $10.54; insiders recently sold shares under pre-arranged trading plans.

Principal Financial Group Inc. acquired a new position in FIGS, Inc. (NYSE:FIGS - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 217,717 shares of the company's stock, valued at approximately $3,216,000. Principal Financial Group Inc. owned approximately 0.13% of FIGS as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in FIGS. Elevated Capital Advisors LLC bought a new position in shares of FIGS in the 4th quarter valued at about $45,000. Quarry LP increased its stake in FIGS by 1,876.3% during the third quarter. Quarry LP now owns 7,846 shares of the company's stock worth $52,000 after acquiring an additional 7,449 shares during the last quarter. Hudson Bay Capital Management LP bought a new stake in FIGS during the second quarter worth approximately $61,000. Walleye Capital LLC bought a new stake in FIGS during the second quarter worth approximately $65,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in FIGS during the fourth quarter valued at approximately $69,000. 92.21% of the stock is currently owned by institutional investors.

FIGS Stock Up 2.0%

FIGS opened at $10.54 on Thursday. The business has a fifty day moving average of $11.07 and a 200 day moving average of $12.54. FIGS, Inc. has a 52-week low of $6.07 and a 52-week high of $17.48. The stock has a market cap of $1.76 billion, a P/E ratio of 47.91 and a beta of 1.01.

FIGS (NYSE:FIGS - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.02. FIGS had a return on equity of 9.69% and a net margin of 6.10%.The business had revenue of $159.90 million for the quarter, compared to analyst estimates of $153.15 million. The company's revenue was up 28.0% on a year-over-year basis. Equities analysts anticipate that FIGS, Inc. will post 0.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. KeyCorp reiterated an "overweight" rating on shares of FIGS in a report on Tuesday, June 23rd. BTIG Research restated a "buy" rating and issued a $20.00 price target on shares of FIGS in a research report on Friday, April 24th. Morgan Stanley lifted their price objective on shares of FIGS from $8.00 to $15.00 and gave the stock an "equal weight" rating in a research note on Monday, April 13th. Zacks Research cut shares of FIGS from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 8th. Finally, Weiss Ratings cut shares of FIGS from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, FIGS currently has an average rating of "Moderate Buy" and an average price target of $15.93.

Insider Transactions at FIGS

In related news, CFO Sarah Oughtred sold 23,597 shares of the firm's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $14.33, for a total value of $338,145.01. Following the transaction, the chief financial officer owned 1,129,791 shares of the company's stock, valued at $16,189,905.03. This trade represents a 2.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Heather L. Hasson sold 32,385 shares of FIGS stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $14.33, for a total transaction of $464,077.05. Following the sale, the chairman owned 1,433,807 shares of the company's stock, valued at $20,546,454.31. The trade was a 2.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 27.06% of the company's stock.

FIGS Company Profile

FIGS, Inc operates as a direct-to-consumer designer and retailer of medical apparel and accessories. The company offers a range of products tailored to the needs of healthcare professionals, including scrub sets, lab coats, tops, bottoms, outerwear, footwear, and performance fabrics designed for comfort, durability, and antimicrobial protection. Through its e-commerce platform and a growing network of retail stores, FIGS provides customizable uniforms and accessories with a focus on innovative materials and functional design features such as four-way stretch fabrics, moisture-wicking technology, and multiple secure pockets.

Founded in 2013 by Heather Hasson and Trina Spear, FIGS set out to disrupt the traditional medical uniform market by emphasizing both form and function.

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