FIGS (NYSE:FIGS) Trading Down 4% – Time to Sell?

FIGS, Inc. (NYSE:FIGS) shares dropped 4% on Thursday . The stock traded as low as $5.93 and last traded at $5.94. Approximately 630,814 shares traded hands during trading, a decline of 67% from the average daily volume of 1,887,821 shares. The stock had previously closed at $6.18.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on FIGS shares. Telsey Advisory Group reaffirmed a “market perform” rating and set a $7.00 price target on shares of FIGS in a research note on Wednesday, November 13th. Barclays dropped their target price on shares of FIGS from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Tuesday, November 12th. Finally, The Goldman Sachs Group reduced their price target on shares of FIGS from $5.00 to $4.50 and set a “sell” rating on the stock in a report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, FIGS has a consensus rating of “Hold” and a consensus target price of $5.35.

FIGS Stock Performance

The firm has a fifty day moving average of $5.61 and a 200-day moving average of $5.85. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 100.12, a P/E/G ratio of 36.06 and a beta of 1.24.

FIGS (NYSE:FIGS) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.01. FIGS had a net margin of 1.97% and a return on equity of 2.76%. The company had revenue of $140.21 million during the quarter, compared to the consensus estimate of $144.11 million. During the same quarter last year, the company earned $0.03 earnings per share. On average, analysts predict that FIGS, Inc. will post 0.01 EPS for the current year.

Insiders Place Their Bets

In other FIGS news, insider Heather L. Hasson sold 26,855 shares of the company’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 transaction, the insider now owns 354,221 shares in the company, valued at approximately $2,111,157.16. This represents a 7.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 22.30% of the stock is currently owned by corporate insiders.

Institutional Trading of FIGS

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bamco Inc. NY boosted its stake in shares of FIGS by 12.5% during the 3rd quarter. Bamco Inc. NY now owns 30,030,078 shares of the company’s stock worth $205,406,000 after acquiring an additional 3,342,755 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of FIGS by 3.8% during the third quarter. Geode Capital Management LLC now owns 2,977,364 shares of the company’s stock valued at $20,369,000 after purchasing an additional 109,979 shares during the last quarter. State Street Corp boosted its position in shares of FIGS by 1.4% in the 3rd quarter. State Street Corp now owns 2,743,494 shares of the company’s stock valued at $18,765,000 after purchasing an additional 38,787 shares during the period. Applied Fundamental Research LLC increased its stake in FIGS by 6.1% in the 3rd quarter. Applied Fundamental Research LLC now owns 2,648,281 shares of the company’s stock worth $18,114,000 after purchasing an additional 152,900 shares in the last quarter. Finally, Squarepoint Ops LLC raised its stake in FIGS by 318.1% during the 2nd quarter. Squarepoint Ops LLC now owns 1,516,131 shares of the company’s stock valued at $8,081,000 after purchasing an additional 1,153,481 shares during the period. 92.21% of the stock is currently 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.