FIGS (NYSE:FIGS) Shares Down 5.2%

Shares of FIGS, Inc. (NYSE:FIGS) dropped 5.2% on Monday . The company traded as low as $5.47 and last traded at $5.47. Approximately 2,180,114 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 3,732,614 shares. The stock had previously closed at $5.77.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Telsey Advisory Group reaffirmed a “market perform” rating and set a $6.00 price target on shares of FIGS in a research note on Monday, August 5th. The Goldman Sachs Group raised their price target on shares of FIGS from $4.25 to $4.75 and gave the company a “sell” rating in a report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $5.40.

FIGS Price Performance

The stock has a market cap of $907.32 million, a price-to-earnings ratio of 48.45, a P/E/G ratio of 76.93 and a beta of 1.42. The company’s fifty day moving average price is $5.80 and its 200-day moving average price is $5.38.

FIGS (NYSE:FIGS) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.01 earnings per share (EPS) for the quarter. The business had revenue of $144.23 million during the quarter, compared to analysts’ expectations of $142.25 million. FIGS had a net margin of 3.39% and a return on equity of 4.94%. The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the company posted $0.02 earnings per share. On average, sell-side analysts forecast that FIGS, Inc. will post 0.03 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Heather L. Hasson sold 40,149 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $5.70, for a total value of $228,849.30. Following the sale, the insider now directly owns 425,710 shares of the company’s stock, valued at approximately $2,426,547. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders have sold 44,591 shares of company stock valued at $255,460. Company insiders own 22.30% of the company’s stock.

Institutional Investors Weigh In On FIGS

Several hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP grew its holdings in FIGS by 321.5% in the fourth quarter. Wellington Management Group LLP now owns 3,075,794 shares of the company’s stock valued at $21,377,000 after purchasing an additional 2,345,994 shares during the period. Eagle Asset Management Inc. purchased a new stake in FIGS in the 4th quarter worth $12,152,000. Squarepoint Ops LLC raised its position in FIGS by 318.1% during the second quarter. Squarepoint Ops LLC now owns 1,516,131 shares of the company’s stock worth $8,081,000 after acquiring an additional 1,153,481 shares during the period. Rice Hall James & Associates LLC purchased a new position in FIGS during the second quarter valued at $3,856,000. Finally, Bamco Inc. NY grew its position in shares of FIGS by 2.0% in the first quarter. Bamco Inc. NY now owns 25,731,980 shares of the company’s stock valued at $128,145,000 after purchasing an additional 516,496 shares during the period. Hedge funds and other institutional investors own 92.21% of the company’s stock.

About FIGS

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.