FIGS (NYSE:FIGS) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of FIGS, Inc. (NYSE:FIGS) saw an uptick in trading volume on Friday . 1,256,083 shares changed hands during trading, a decline of 28% from the previous session’s volume of 1,736,115 shares.The stock last traded at $5.87 and had previously closed at $6.08.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FIGS. The Goldman Sachs Group cut their price target on shares of FIGS from $5.00 to $4.50 and set a “sell” rating for the company in a research note on Tuesday, December 10th. Telsey Advisory Group reiterated a “market perform” rating and set a $7.00 price target on shares of FIGS in a report on Wednesday, November 13th. Finally, Barclays dropped their price objective on FIGS from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $5.35.

FIGS Stock Performance

The firm has a market cap of $1.02 billion, a P/E ratio of 100.17, a P/E/G ratio of 290.40 and a beta of 1.24. The firm’s fifty day moving average is $5.55 and its 200 day moving average is $5.82.

Insiders Place Their Bets

In other news, insider Heather L. Hasson sold 26,855 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $5.96, for a total value of $160,055.80. Following the completion of the sale, the insider now owns 354,221 shares of the company’s stock, valued at approximately $2,111,157.16. The trade was a 7.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 22.30% of the company’s stock.

Hedge Funds Weigh In On FIGS

A number of hedge funds have recently bought and sold shares of FIGS. Creative Planning grew its position in shares of FIGS by 17.7% during the 3rd quarter. Creative Planning now owns 12,697 shares of the company’s stock worth $87,000 after purchasing an additional 1,911 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of FIGS by 6.0% in the second quarter. The Manufacturers Life Insurance Company now owns 50,564 shares of the company’s stock valued at $270,000 after buying an additional 2,879 shares during the period. FMR LLC grew its position in FIGS by 0.3% during the third quarter. FMR LLC now owns 1,155,092 shares of the company’s stock worth $7,901,000 after buying an additional 3,000 shares in the last quarter. Aigen Investment Management LP increased its stake in FIGS by 40.3% during the 3rd quarter. Aigen Investment Management LP now owns 22,840 shares of the company’s stock worth $156,000 after acquiring an additional 6,562 shares during the period. Finally, Quent Capital LLC raised its holdings in FIGS by 49.8% in the 3rd quarter. Quent Capital LLC now owns 30,073 shares of the company’s stock valued at $204,000 after acquiring an additional 10,000 shares in the last quarter. 92.21% of the stock is owned by institutional investors.

About FIGS

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.