Sarah Oughtred Sells 23,597 Shares of FIGS (NYSE:FIGS) Stock

Key Points

• CFO Sarah Oughtred sold 23,597 shares of FIGS on May 4 under a pre-arranged Rule 10b5-1 plan at an average price of $14.33, trimming her holdings by 2.05% to 1,129,791 shares valued at about $16.19 million.
• FIGS beat quarterly estimates, reporting $0.10 EPS vs. $0.02 expected and revenue of $201.9M (up 33% YoY vs. $165.33M expected); analysts carry a consensus "Moderate Buy" rating with a $15.93 target.

FIGS, Inc. (NYSE:FIGS - Get Free Report) CFO Sarah Oughtred sold 23,597 shares of the stock in a transaction on Monday, May 4th. The stock was 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 in the company, valued at $16,189,905.03. The trade was a 2.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Sarah Oughtred also recently made the following trade(s):

• On Thursday, April 2nd, Sarah Oughtred sold 10,872 shares of FIGS stock. The stock was sold at an average price of $14.44, for a total value of $156,991.68.
• On Thursday, February 5th, Sarah Oughtred sold 22,690 shares of FIGS stock. The stock was sold at an average price of $10.56, for a total value of $239,606.40.

FIGS Trading Down 0.2%

FIGS stock traded down $0.03 during trading hours on Wednesday, hitting $14.51. 4,019,155 shares of the stock were exchanged, compared to its average volume of 2,954,482. FIGS, Inc. has a 12 month low of $4.25 and a 12 month high of $17.48. The firm has a market capitalization of $2.41 billion, a P/E ratio of 76.35 and a beta of 1.12. The company has a 50-day simple moving average of $14.99 and a two-hundred day simple moving average of $12.05.

FIGS (NYSE:FIGS - Get Free Report) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.10 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.08. The company had revenue of $201.90 million for the quarter, compared to analysts' expectations of $165.33 million. FIGS had a return on equity of 8.41% and a net margin of 5.43%.FIGS's revenue was up 33.0% on a year-over-year basis. During the same quarter last year, the business earned $0.01 earnings per share. On average, equities research analysts predict that FIGS, Inc. will post 0.24 earnings per share for the current year.

Institutional Trading of FIGS

Hedge funds have recently made changes to their positions in the company. Y Intercept Hong Kong Ltd boosted its stake in shares of FIGS by 943.4% during the third quarter. Y Intercept Hong Kong Ltd now owns 261,232 shares of the company's stock valued at $1,748,000 after purchasing an additional 236,195 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of FIGS by 4.6% during the third quarter. Vanguard Group Inc. now owns 9,609,320 shares of the company's stock valued at $64,286,000 after purchasing an additional 425,189 shares in the last quarter. Western Standard LLC acquired a new stake in shares of FIGS during the third quarter valued at about $1,863,000. ProShare Advisors LLC boosted its stake in shares of FIGS by 24.7% during the third quarter. ProShare Advisors LLC now owns 963,560 shares of the company's stock valued at $6,446,000 after purchasing an additional 190,592 shares in the last quarter. Finally, Jennison Associates LLC acquired a new stake in shares of FIGS during the fourth quarter valued at about $5,717,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FIGS. Barclays upgraded shares of FIGS from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 27th. Oppenheimer upgraded shares of FIGS from a "market perform" rating to an "outperform" rating and set a $22.00 price objective on the stock in a research note on Friday, March 20th. KeyCorp increased their price objective on shares of FIGS to $19.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 28th. Morgan Stanley increased 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. Finally, Weiss Ratings upgraded shares of FIGS from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, April 29th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $15.93.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.