Wellington Management Group LLP Purchases Shares of 1,202,728 FIGS, Inc. $FIGS

Wellington Management Group LLP acquired a new position in shares of FIGS, Inc. (NYSE:FIGS) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 1,202,728 shares of the company’s stock, valued at approximately $12,304,000.

Several other hedge funds also recently modified their holdings of FIGS. Arrowstreet Capital Limited Partnership grew its position in FIGS by 167.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,070,258 shares of the company’s stock worth $60,118,000 after acquiring an additional 2,546,905 shares during the last quarter. Marshall Wace LLP boosted its stake in FIGS by 66.2% in the fourth quarter. Marshall Wace LLP now owns 4,297,868 shares of the company’s stock worth $48,824,000 after purchasing an additional 1,712,610 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of FIGS by 2,139.7% during the second quarter. BNP Paribas Financial Markets now owns 1,307,468 shares of the company’s stock worth $7,374,000 after purchasing an additional 1,249,091 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of FIGS by 9.0% during the second quarter. Ameriprise Financial Inc. now owns 13,936,468 shares of the company’s stock worth $78,602,000 after purchasing an additional 1,144,962 shares during the last quarter. Finally, Jennison Associates LLC increased its stake in shares of FIGS by 178.4% in the first quarter. Jennison Associates LLC now owns 1,401,214 shares of the company’s stock valued at $20,696,000 after buying an additional 897,935 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

FIGS Stock Performance

Shares of NYSE FIGS opened at $14.44 on Tuesday. FIGS, Inc. has a 52-week low of $6.50 and a 52-week high of $17.48. The stock has a market cap of $2.40 billion, a P/E ratio of 43.76 and a beta of 1.07. The firm has a 50 day moving average price of $12.20 and a 200 day moving average price of $13.09.

FIGS (NYSE:FIGS) last posted its earnings results on Thursday, August 6th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.08. The company had revenue of $196.62 million for the quarter, compared to analyst estimates of $186.17 million. FIGS had a net margin of 8.72% and a return on equity of 12.53%. The business’s revenue for the quarter was up 28.8% compared to the same quarter last year. During the same period last year, the business posted $0.04 earnings per share. Analysts predict that FIGS, Inc. will post 0.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FIGS has been the subject of a number of research analyst reports. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $16.00 price target on shares of FIGS in a report on Friday, August 7th. Roth Capital reissued a “buy” rating on shares of FIGS in a report on Friday, August 7th. KeyCorp raised their price objective on shares of FIGS from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. BTIG Research boosted their target price on shares of FIGS from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Finally, Weiss Ratings upgraded shares of FIGS from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, August 21st. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.71.

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.