FIGS (NYSE:FIGS) Rating Lowered to Buy at Wall Street Zen

FIGS (NYSE:FIGS) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

Several other brokerages have also recently issued reports on FIGS. The Goldman Sachs Group lifted their target price on FIGS from $5.50 to $7.50 and gave the company a “sell” rating in a research report on Friday, January 30th. Telsey Advisory Group restated a “market perform” rating and set a $9.00 price objective (up from $7.00) on shares of FIGS in a research note on Monday, November 3rd. BTIG Research increased their target price on shares of FIGS from $12.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, December 10th. Wolfe Research raised shares of FIGS to a “buy” rating in a research report on Wednesday, December 10th. Finally, Zacks Research raised shares of FIGS from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $10.10.

FIGS Stock Performance

Shares of FIGS stock opened at $10.26 on Friday. The stock has a market capitalization of $1.69 billion, a PE ratio of 102.55 and a beta of 1.29. FIGS has a 52 week low of $3.57 and a 52 week high of $12.50. The stock has a 50 day moving average price of $11.45 and a two-hundred day moving average price of $9.03.

Insider Buying and Selling

In other news, 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 transaction of $239,606.40. Following the completion of the sale, the chief financial officer owned 821,500 shares of the company’s stock, valued at approximately $8,675,040. This represents a 2.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Heather L. Hasson sold 22,874 shares of the business’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $10.56, for a total value of $241,549.44. Following the transaction, the insider owned 1,251,967 shares in the company, valued at approximately $13,220,771.52. This represents a 1.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 105,813 shares of company stock worth $1,168,051. Insiders own 29.44% of the company’s stock.

Institutional Investors Weigh In On FIGS

Several hedge funds have recently made changes to their positions in FIGS. Bamco Inc. NY increased its stake in FIGS by 2.2% during the 2nd quarter. Bamco Inc. NY now owns 59,974,407 shares of the company’s stock valued at $338,256,000 after purchasing an additional 1,302,823 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of FIGS by 9.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 13,936,468 shares of the company’s stock worth $78,602,000 after acquiring an additional 1,144,962 shares during the last quarter. Vanguard Group Inc. increased its position in FIGS by 4.6% in the third quarter. Vanguard Group Inc. now owns 9,609,320 shares of the company’s stock worth $64,286,000 after buying an additional 425,189 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in FIGS by 1.6% during the third quarter. Dimensional Fund Advisors LP now owns 4,417,008 shares of the company’s stock valued at $29,549,000 after acquiring an additional 70,660 shares during the period. Finally, Marshall Wace LLP boosted its position in shares of FIGS by 66.2% during the fourth quarter. Marshall Wace LLP now owns 4,297,868 shares of the company’s stock worth $48,824,000 after acquiring an additional 1,712,610 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors.

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.