Renaissance Technologies LLC Sells 164,000 Shares of FIGS, Inc. $FIGS

Renaissance Technologies LLC cut its holdings in shares of FIGS, Inc. (NYSE:FIGS) by 9.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,601,200 shares of the company’s stock after selling 164,000 shares during the period. Renaissance Technologies LLC owned approximately 0.96% of FIGS worth $23,650,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of FIGS by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 77,219 shares of the company’s stock worth $354,000 after acquiring an additional 3,276 shares during the period. Woodline Partners LP purchased a new stake in FIGS during the 1st quarter valued at $3,199,000. Creative Planning lifted its holdings in shares of FIGS by 181.3% during the 2nd quarter. Creative Planning now owns 65,740 shares of the company’s stock valued at $371,000 after buying an additional 42,367 shares during the period. Prudential Financial Inc. purchased a new position in shares of FIGS in the 2nd quarter worth $70,000. Finally, Russell Investments Group Ltd. grew its holdings in shares of FIGS by 102.4% in the second quarter. Russell Investments Group Ltd. now owns 147,440 shares of the company’s stock worth $832,000 after acquiring an additional 74,578 shares during the period. 92.21% of the stock is currently owned by institutional investors.

Insider Buying and Selling at FIGS

In other news, CFO Sarah Oughtred sold 23,597 shares of FIGS stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $14.33, for a total value of $338,145.01. Following the completion of the transaction, the chief financial officer owned 1,129,791 shares in the company, valued at approximately $16,189,905.03. The trade was a 2.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Heather L. Hasson sold 32,385 shares of FIGS stock in a transaction on Monday, May 4th. The stock was sold at an average price of $14.33, for a total transaction of $464,077.05. Following the transaction, the chairman directly owned 1,433,807 shares of the company’s stock, valued at $20,546,454.31. The trade was a 2.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 27.06% of the stock is owned by company insiders.

FIGS Price Performance

FIGS stock opened at $10.54 on Thursday. The stock has a market cap of $1.76 billion, a P/E ratio of 47.91 and a beta of 1.01. FIGS, Inc. has a 1 year low of $6.07 and a 1 year high of $17.48. The firm’s 50 day moving average price is $11.07 and its 200-day moving average price is $12.54.

FIGS (NYSE:FIGS) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.01 by $0.02. FIGS had a net margin of 6.10% and a return on equity of 9.69%. The business had revenue of $159.90 million during the quarter, compared to the consensus estimate of $153.15 million. The business’s revenue for the quarter was up 28.0% compared to the same quarter last year. As a group, equities analysts expect that FIGS, Inc. will post 0.26 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Morgan Stanley raised their target price on FIGS from $8.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Monday, April 13th. BTIG Research reissued a “buy” rating and issued a $20.00 price objective on shares of FIGS in a report on Friday, April 24th. KeyCorp restated an “overweight” rating on shares of FIGS in a research report on Tuesday, June 23rd. Weiss Ratings cut shares of FIGS from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Finally, Zacks Research downgraded shares of FIGS from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $15.93.

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.