FIGS, Inc. $FIGS Shares Sold by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. decreased its stake in FIGS, Inc. by 50.6%, now owning approximately 0.60% of the company’s shares, valued at $4.45 million.
• Other hedge funds have either increased or established new positions in FIGS, with institutional investors holding 92.21% of the stock.
• FIGS recently reported a quarterly earnings per share (EPS) of $0.04, surpassing analyst estimates, and its revenue increased by 5.8% year-over-year.

Raymond James Financial Inc. decreased its position in FIGS, Inc. (NYSE:FIGS - Free Report) by 50.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 968,934 shares of the company's stock after selling 994,276 shares during the quarter. Raymond James Financial Inc. owned 0.60% of FIGS worth $4,447,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. GAMMA Investing LLC boosted its stake in FIGS by 585.8% in the first quarter. GAMMA Investing LLC now owns 6,536 shares of the company's stock valued at $30,000 after acquiring an additional 5,583 shares in the last quarter. Stifel Financial Corp purchased a new stake in FIGS in the fourth quarter valued at approximately $70,000. Quantinno Capital Management LP acquired a new position in shares of FIGS in the 4th quarter valued at $82,000. Teacher Retirement System of Texas acquired a new stake in FIGS during the 1st quarter worth $66,000. Finally, US Bancorp DE purchased a new position in FIGS during the 1st quarter worth $70,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on FIGS shares. Wall Street Zen cut shares of FIGS from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 5th. Morgan Stanley increased their price target on shares of FIGS from $4.25 to $5.00 and gave the stock an "equal weight" rating in a report on Monday, July 21st. The Goldman Sachs Group lifted their price objective on FIGS from $3.75 to $4.50 and gave the company a "sell" rating in a report on Tuesday, July 22nd. Cowen reiterated a "hold" rating on shares of FIGS in a research report on Friday, August 8th. Finally, Telsey Advisory Group reissued a "market perform" rating and issued a $7.00 price target (up from $5.00) on shares of FIGS in a report on Monday, August 4th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, FIGS currently has an average rating of "Hold" and an average target price of $5.38.

FIGS Stock Performance

NYSE:FIGS traded up $0.09 during mid-day trading on Thursday, hitting $6.91. 351,367 shares of the company's stock traded hands, compared to its average volume of 2,042,130. FIGS, Inc. has a 1 year low of $3.57 and a 1 year high of $7.31. The company has a market cap of $1.13 billion, a PE ratio of 172.67, a price-to-earnings-growth ratio of 4.26 and a beta of 1.34. The firm's 50 day simple moving average is $6.50 and its 200 day simple moving average is $5.31.

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, topping analysts' consensus estimates of $0.02 by $0.02. FIGS had a net margin of 1.26% and a return on equity of 1.84%. The business had revenue of $152.64 million during the quarter, compared to analysts' expectations of $144.17 million. During the same period last year, the company posted $0.01 EPS. The company's revenue was up 5.8% on a year-over-year basis. On average, research analysts expect that FIGS, Inc. will post 0.01 earnings per share for the current fiscal year.

Insider Activity at FIGS

In other FIGS news, CFO Sarah Oughtred sold 99,834 shares of FIGS stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $6.19, for a total transaction of $617,972.46. Following the transaction, the chief financial officer directly owned 878,058 shares of the company's stock, valued at $5,435,179.02. The trade was a 10.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Catherine Eva Spear sold 65,866 shares of FIGS 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 sale, the chief executive officer directly owned 1,969,246 shares in the company, valued at approximately $13,548,412.48. The trade was a 3.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 29.44% of the company's stock.

FIGS Company 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.