UBS Group AG Raises Stock Position in FIGS, Inc. $FIGS

Key Points

• UBS Group AG increased its stake in FIGS by 45.2% in the fourth quarter, adding 86,268 shares to bring its total to 277,151 shares worth about $3.15 million.
• FIGS beat earnings expectations in its latest quarter, reporting $0.03 EPS versus the $0.01 estimate and revenue of $159.9 million, up 28% year over year.
• Insider selling has been notable, with the CEO and CFO both selling shares recently; insiders sold 685,516 shares worth $11.23 million over the past three months.

UBS Group AG lifted its position in FIGS, Inc. (NYSE:FIGS - Free Report) by 45.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 277,151 shares of the company's stock after buying an additional 86,268 shares during the period. UBS Group AG owned approximately 0.17% of FIGS worth $3,148,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Assetmark Inc. purchased a new stake in FIGS during the 3rd quarter worth approximately $35,000. Elevated Capital Advisors LLC purchased a new stake in FIGS during the 4th quarter worth approximately $45,000. Quarry LP grew its position in FIGS by 1,876.3% during the 3rd quarter. Quarry LP now owns 7,846 shares of the company's stock worth $52,000 after purchasing an additional 7,449 shares during the last quarter. Hudson Bay Capital Management LP purchased a new stake in FIGS during the 2nd quarter worth approximately $61,000. Finally, Walleye Capital LLC purchased a new stake in FIGS during the 2nd quarter worth approximately $65,000. Hedge funds and other institutional investors own 92.21% of the company's stock.

FIGS Price Performance

FIGS opened at $12.57 on Monday. The firm has a fifty day moving average price of $14.29 and a 200 day moving average price of $12.41. FIGS, Inc. has a 1 year low of $4.25 and a 1 year high of $17.48. The stock has a market cap of $2.10 billion, a P/E ratio of 57.14 and a beta of 1.12.

FIGS (NYSE:FIGS - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.02. FIGS had a net margin of 6.10% and a return on equity of 9.69%. The firm had revenue of $159.90 million during the quarter, compared to analysts' expectations of $153.15 million. FIGS's quarterly revenue was up 28.0% on a year-over-year basis. Equities analysts expect that FIGS, Inc. will post 0.25 EPS for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on FIGS shares. Barclays raised shares of FIGS from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 27th. Zacks Research downgraded shares of FIGS from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 8th. KeyCorp boosted their target price on shares of FIGS to $19.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 28th. Telsey Advisory Group boosted their target price on shares of FIGS to $17.00 and gave the stock a "market perform" rating in a research report on Thursday, March 12th. Finally, Weiss Ratings downgraded shares of FIGS from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, FIGS has a consensus rating of "Moderate Buy" and a consensus target price of $15.93.

Insider Activity at FIGS

In related news, CEO Catherine Eva Spear sold 62,335 shares of the business's stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $14.44, for a total value of $900,117.40. Following the completion of the transaction, the chief executive officer directly owned 1,794,964 shares in the company, valued at $25,919,280.16. The trade was a 3.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Sarah Oughtred sold 23,597 shares of the business's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $14.33, for a total transaction of $338,145.01. Following the completion of the transaction, the chief financial officer owned 1,129,791 shares of the company's stock, valued at approximately $16,189,905.03. This represents a 2.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 685,516 shares of company stock worth $11,233,441 in the last three months. Company insiders own 29.44% of the company's stock.

About FIGS

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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