FIGS (NYSE:FIGS) Research Coverage Started at Cantor Fitzgerald

Cantor Fitzgerald began coverage on shares of FIGS (NYSE:FIGS) in a research report report published on Tuesday, MarketBeat.com reports. The firm issued an overweight rating and a $25.00 price target on the stock.

A number of other research analysts also recently weighed in on the stock. BTIG Research upped their price objective on shares of FIGS from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, October 30th. Roth Capital restated a “buy” rating on shares of FIGS in a research report on Friday, August 7th. Telsey Advisory Group dropped their target price on FIGS from $17.00 to $16.00 and set a “market perform” rating on the stock in a research report on Friday, August 7th. Weiss Ratings upgraded FIGS from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, October 27th. Finally, 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. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.62.

FIGS Stock Down 2.9%

Shares of NYSE FIGS opened at $22.73 on Tuesday. FIGS has a 52 week low of $8.95 and a 52 week high of $23.76. The business’s 50 day moving average price is $16.92 and its 200 day moving average price is $13.86. The firm has a market cap of $3.78 billion, a P/E ratio of 59.81 and a beta of 1.05.

FIGS (NYSE:FIGS) last announced its quarterly earnings results on Thursday, November 5th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.03. The company had revenue of $190.69 million for the quarter, compared to the consensus estimate of $182.82 million. FIGS had a return on equity of 14.65% and a net margin of 9.67%. The firm’s revenue for the quarter was up 25.7% compared to the same quarter last year. During the same period last year, the firm earned $0.05 EPS. As a group, research analysts expect that FIGS will post 0.35 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Catherine Spear sold 4,044,284 shares of the business’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $19.70, for a total value of $79,672,394.80. Following the completion of the sale, the chief executive officer owned 1,671,854 shares of the company’s stock, valued at approximately $32,935,523.80. The trade was a 70.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Sarah Oughtred sold 90,000 shares of the company’s stock in a transaction on Wednesday, November 11th. The stock was sold at an average price of $21.92, for a total transaction of $1,972,800.00. Following the transaction, the chief financial officer owned 954,007 shares of the company’s stock, valued at $20,911,833.44. This represents a 8.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 27.06% of the stock is currently owned by company insiders.

Institutional Trading of FIGS

Several institutional investors have recently modified their holdings of the stock. IFP Advisors Inc increased its stake in shares of FIGS by 120.2% during the second quarter. IFP Advisors Inc now owns 4,389 shares of the company’s stock worth $45,000 after purchasing an additional 2,396 shares in the last quarter. Sterling Capital Management LLC lifted its stake in FIGS by 848.2% in the 3rd quarter. Sterling Capital Management LLC now owns 3,167 shares of the company’s stock valued at $44,000 after buying an additional 2,833 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in FIGS in the 2nd quarter worth about $41,000. State of Wyoming boosted its holdings in FIGS by 6.9% in the 3rd quarter. State of Wyoming now owns 69,746 shares of the company’s stock worth $967,000 after buying an additional 4,487 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in FIGS by 13.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 60,354 shares of the company’s stock worth $891,000 after buying an additional 7,348 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

About FIGS

FIGS, Inc. designs and sells apparel and accessories for healthcare professionals. Its products include scrubs, underscrubs, lab coats, outerwear, footwear, compression socks and other work-related accessories, with an emphasis on functional design and performance fabrics. The company primarily sells through its e-commerce platform, serving healthcare workers in the United States and internationally. Its offerings are aimed at professionals across a range of medical roles and care settings. FIGS was founded in 2013 by Heather Hasson and Trina Spear.