FIGS (NYSE:FIGS) Stock Price Down 3.6%

FIGS, Inc. (NYSE:FIGS) fell 3.6% during trading on Monday . The stock traded as low as $4.83 and last traded at $4.86. 1,294,020 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 3,700,281 shares. The stock had previously closed at $5.04.

Analysts Set New Price Targets

Several brokerages recently commented on FIGS. The Goldman Sachs Group cut their price target on shares of FIGS from $4.85 to $4.25 and set a “sell” rating for the company in a report on Tuesday, April 23rd. Telsey Advisory Group reissued a “market perform” rating and issued a $6.00 price target on shares of FIGS in a report on Friday, May 3rd. Barclays dropped their target price on shares of FIGS from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Friday, March 1st. Bank of America reaffirmed an “underperform” rating and set a $4.50 target price (down previously from $8.50) on shares of FIGS in a report on Tuesday, April 2nd. Finally, Oppenheimer lowered shares of FIGS from an “outperform” rating to a “market perform” rating in a report on Friday, March 8th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $4.94.

FIGS Stock Performance

The firm’s 50-day moving average price is $5.03 and its two-hundred day moving average price is $5.96. The stock has a market cap of $876.74 million, a price-to-earnings ratio of 45.46, a PEG ratio of 19.95 and a beta of 1.41.

FIGS (NYSE:FIGS) last posted its earnings results on Wednesday, February 28th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. FIGS had a net margin of 4.15% and a return on equity of 6.72%. The company had revenue of $144.90 million for the quarter, compared to analysts’ expectations of $149.09 million. During the same quarter in the prior year, the company posted $0.05 earnings per share. FIGS’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, sell-side analysts expect that FIGS, Inc. will post 0.05 earnings per share for the current fiscal year.

Insider Transactions at FIGS

In related news, CFO Daniella Turenshine sold 15,762 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $5.54, for a total transaction of $87,321.48. Following the sale, the chief financial officer now directly owns 409,858 shares in the company, valued at $2,270,613.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have sold 21,787 shares of company stock valued at $122,632. 22.30% of the stock is currently owned by corporate insiders.

Institutional Trading of FIGS

Large investors have recently made changes to their positions in the company. ProShare Advisors LLC increased its stake in FIGS by 26.6% in the first quarter. ProShare Advisors LLC now owns 766,465 shares of the company’s stock valued at $3,817,000 after purchasing an additional 161,249 shares during the last quarter. Applied Fundamental Research LLC increased its stake in FIGS by 25.8% in the first quarter. Applied Fundamental Research LLC now owns 2,495,381 shares of the company’s stock valued at $12,427,000 after purchasing an additional 511,794 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in FIGS by 23.6% in the first quarter. Janney Montgomery Scott LLC now owns 16,977 shares of the company’s stock valued at $85,000 after purchasing an additional 3,247 shares during the last quarter. Lineweaver Wealth Advisors LLC purchased a new position in FIGS in the first quarter valued at approximately $95,000. Finally, Hedges Asset Management LLC purchased a new position in FIGS in the first quarter valued at approximately $359,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

FIGS Company Profile

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.