Vident Advisory LLC Grows Position in FIGS, Inc. $FIGS

Key Points

• Vident Advisory LLC significantly increased its stake in FIGS, Inc. by 298.6%, now holding 65,010 shares valued at approximately $298,000.
• Institutional investors own 92.21% of FIGS stock, reflecting strong interest from various funds, including GAMMA Investing LLC which raised its position by 585.8%.
• FIGS reported a quarterly revenue of $152.64 million, exceeding estimates, and a net margin of only 1.26%, indicating potential challenges despite revenue growth.

Vident Advisory LLC raised its holdings in shares of FIGS, Inc. (NYSE:FIGS - Free Report) by 298.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 65,010 shares of the company's stock after purchasing an additional 48,701 shares during the quarter. Vident Advisory LLC's holdings in FIGS were worth $298,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC lifted its position in FIGS by 585.8% during the first quarter. GAMMA Investing LLC now owns 6,536 shares of the company's stock valued at $30,000 after purchasing an additional 5,583 shares during the last quarter. Stifel Financial Corp bought a new position in FIGS during the fourth quarter valued at $70,000. Quantinno Capital Management LP bought a new position in FIGS during the fourth quarter valued at $82,000. Teacher Retirement System of Texas bought a new position in FIGS during the first quarter valued at $66,000. Finally, US Bancorp DE bought a new position in FIGS during the first quarter valued at $70,000. Institutional investors own 92.21% of the company's stock.

FIGS Price Performance

FIGS stock opened at $6.82 on Tuesday. The company has a market capitalization of $1.11 billion, a PE ratio of 170.47, a P/E/G ratio of 4.42 and a beta of 1.34. FIGS, Inc. has a 12 month low of $3.57 and a 12 month high of $7.31. The firm's 50-day moving average is $6.47 and its 200 day moving average is $5.29.

FIGS (NYSE:FIGS - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.02 by $0.02. The company had revenue of $152.64 million for 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 firm's revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.01 EPS. Sell-side analysts forecast that FIGS, Inc. will post 0.01 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on FIGS shares. Barclays reiterated a "positive" rating on shares of FIGS in a research report on Tuesday, May 13th. Morgan Stanley increased their target price on shares of FIGS from $4.25 to $5.00 and gave the company an "equal weight" rating in a research note on Monday, July 21st. Wall Street Zen downgraded shares of FIGS from a "strong-buy" rating to a "buy" rating in a research note on Friday. The Goldman Sachs Group increased their target price on shares of FIGS from $3.75 to $4.50 and gave the company a "sell" rating in a research note on Tuesday, July 22nd. Finally, Telsey Advisory Group reissued a "market perform" rating and issued a $7.00 target price (up previously from $5.00) on shares of FIGS in a research note on Monday, August 4th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $5.38.

Insider Activity

In related news, CFO Sarah Oughtred sold 99,834 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $6.19, for a total value of $617,972.46. Following the transaction, the chief financial officer owned 878,058 shares of the company's stock, valued at $5,435,179.02. This trade represents a 10.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Catherine Eva Spear sold 65,866 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $6.88, for a total transaction of $453,158.08. Following the completion of the transaction, the chief executive officer directly owned 1,969,246 shares in the company, valued at $13,548,412.48. This represents a 3.24% decrease in their position. The disclosure for this sale can be found here. Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.