Quantbot Technologies LP Buys 102,092 Shares of FIGS, Inc. $FIGS

Quantbot Technologies LP increased its stake in FIGS, Inc. (NYSE:FIGS) by 92.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 212,103 shares of the company’s stock after buying an additional 102,092 shares during the quarter. Quantbot Technologies LP owned approximately 0.13% of FIGS worth $1,419,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in FIGS by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 77,219 shares of the company’s stock valued at $354,000 after acquiring an additional 3,276 shares during the last quarter. Woodline Partners LP bought a new stake in shares of FIGS in the 1st quarter valued at about $3,199,000. Y Intercept Hong Kong Ltd acquired a new stake in FIGS in the 2nd quarter valued at about $141,000. Malaga Cove Capital LLC grew its holdings in FIGS by 10.1% during the second quarter. Malaga Cove Capital LLC now owns 374,673 shares of the company’s stock worth $2,113,000 after purchasing an additional 34,235 shares during the period. Finally, Fox Run Management L.L.C. acquired a new position in FIGS during the second quarter worth approximately $100,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FIGS has been the subject of a number of recent analyst reports. Barclays raised FIGS from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 27th. Wolfe Research raised FIGS to a “buy” rating in a report on Wednesday, December 10th. The Goldman Sachs Group upgraded shares of FIGS from a “strong sell” rating to a “hold” rating in a report on Friday, February 27th. Zacks Research raised shares of FIGS from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 7th. Finally, Telsey Advisory Group lifted their target price on shares of FIGS from $9.00 to $15.00 and gave the stock a “market perform” rating in a report on Friday, February 27th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, FIGS presently has a consensus rating of “Moderate Buy” and an average target price of $12.25.

Insiders Place Their Bets

In related news, insider Heather L. Hasson sold 556,327 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $16.85, for a total value of $9,374,109.95. Following the completion of the sale, the insider directly owned 1,251,967 shares in the company, valued at approximately $21,095,643.95. The trade was a 30.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Sarah Oughtred sold 22,690 shares of the stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $10.56, for a total value of $239,606.40. Following the sale, the chief financial officer directly owned 821,500 shares in the company, valued at $8,675,040. This represents a 2.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 662,140 shares of company stock worth $10,542,161 in the last quarter. Corporate insiders own 29.44% of the company’s stock.

FIGS Price Performance

FIGS stock opened at $16.94 on Friday. FIGS, Inc. has a fifty-two week low of $3.57 and a fifty-two week high of $17.48. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of 89.16 and a beta of 1.22. The business’s fifty day moving average price is $11.80 and its two-hundred day moving average price is $9.63.

FIGS (NYSE:FIGS) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.02 by $0.08. FIGS had a net margin of 5.43% and a return on equity of 8.41%. The business had revenue of $201.90 million for the quarter, compared to the consensus estimate of $165.33 million. During the same period in the prior year, the company posted $0.01 earnings per share. FIGS’s revenue was up 33.0% compared to the same quarter last year. Research analysts expect that FIGS, Inc. will post 0.01 EPS for the current year.

FIGS Company Profile

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.