FIGS (NYSE:FIGS) Stock: Insider Sarah Oughtred Sells 90,000 Shares

FIGS, Inc. (NYSE:FIGS) CFO Sarah Oughtred sold 90,000 shares of the firm’s stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $21.92, for a total value of $1,972,800.00. Following the sale, the chief financial officer owned 954,007 shares of the company’s stock, valued at $20,911,833.44. The trade was a 8.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

FIGS Trading Down 2.7%

Shares of NYSE FIGS opened at $22.07 on Friday. FIGS, Inc. has a one year low of $8.95 and a one year high of $23.76. The business has a 50-day moving average price of $17.06 and a two-hundred day moving average price of $13.91. The firm has a market capitalization of $3.66 billion, a PE ratio of 58.07 and a beta of 1.05.

FIGS (NYSE:FIGS) last issued its earnings results on Thursday, November 5th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarterly revenue was up 25.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.05 EPS. Research analysts anticipate that FIGS, Inc. will post 0.36 EPS for the current year.

Institutional Investors Weigh In On FIGS

Large investors have recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund bought a new position in FIGS during the third quarter valued at approximately $4,999,000. Diversified Trust Co bought a new stake in FIGS in the third quarter worth approximately $315,000. Jefferies Financial Group Inc. bought a new stake in FIGS in the third quarter worth approximately $6,286,000. Alps Advisors Inc. acquired a new position in shares of FIGS during the 3rd quarter worth $575,000. Finally, State of Wyoming increased its stake in shares of FIGS by 6.9% during the 3rd quarter. State of Wyoming now owns 69,746 shares of the company’s stock worth $967,000 after purchasing an additional 4,487 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on FIGS. Barclays increased their target price on shares of FIGS from $20.00 to $24.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 3rd. Wall Street Zen cut shares of FIGS from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 7th. Oppenheimer upped their price target on shares of FIGS from $22.00 to $25.00 and gave the stock an “outperform” rating in a research note on Thursday, October 29th. KeyCorp upped their price target on shares of FIGS from $20.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, November 6th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $16.00 price objective on shares of FIGS in a report on Friday, August 7th. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.62.

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.