FIGS (NYSE:FIGS) Stock Price Down 8.8% – Should You Sell?

FIGS, Inc. (NYSE:FIGS) shares fell 8.8% on Friday . The company traded as low as $5.04 and last traded at $5.09. 378,186 shares were traded during mid-day trading, a decline of 79% from the average session volume of 1,801,332 shares. The stock had previously closed at $5.58.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FIGS. Telsey Advisory Group reiterated a “market perform” rating and issued a $7.00 price target on shares of FIGS in a report on Friday. The Goldman Sachs Group reduced their target price on shares of FIGS from $5.00 to $4.50 and set a “sell” rating for the company in a report on Tuesday, December 10th. Finally, Barclays lowered their price target on shares of 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 research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $5.35.

FIGS Stock Down 18.1 %

The business’s 50-day moving average price is $5.74 and its 200 day moving average price is $5.77. The company has a market capitalization of $776.03 million, a P/E ratio of 76.17, a price-to-earnings-growth ratio of 31.62 and a beta of 1.22.

Insider Buying and Selling at FIGS

In other news, insider Heather L. Hasson sold 26,855 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $5.96, for a total transaction of $160,055.80. Following the transaction, the insider now directly owns 354,221 shares in the company, valued at approximately $2,111,157.16. This represents a 7.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 22.30% of the stock is currently owned by company insiders.

Institutional Trading of FIGS

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ameriprise Financial Inc. boosted its stake in shares of FIGS by 37.9% in the 4th quarter. Ameriprise Financial Inc. now owns 12,188,166 shares of the company’s stock valued at $75,445,000 after purchasing an additional 3,352,846 shares in the last quarter. Bamco Inc. NY boosted its position in FIGS by 12.5% during the third quarter. Bamco Inc. NY now owns 30,030,078 shares of the company’s stock valued at $205,406,000 after buying an additional 3,342,755 shares during the period. Raymond James Financial Inc. bought a new position in shares of FIGS during the fourth quarter valued at about $12,152,000. Bank of New York Mellon Corp increased its holdings in shares of FIGS by 83.3% in the fourth quarter. Bank of New York Mellon Corp now owns 2,315,163 shares of the company’s stock worth $14,331,000 after buying an additional 1,052,384 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of FIGS by 23.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,350,572 shares of the company’s stock valued at $26,931,000 after acquiring an additional 827,149 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

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.