FIGS (NYSE:FIGS) Stock: Insider Catherine Eva Spear Sells 4,044,284 Shares

FIGS, Inc. (NYSE:FIGS) CEO Catherine Spear sold 4,044,284 shares of FIGS stock in a transaction on Monday, November 9th. The shares were sold at an average price of $19.70, for a total value of $79,672,394.80. Following the completion of the sale, the chief executive officer owned 1,671,854 shares in the company, valued at $32,935,523.80. This represents a 70.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

FIGS Price Performance

Shares of NYSE FIGS opened at $22.35 on Wednesday. FIGS, Inc. has a 1-year low of $8.86 and a 1-year high of $22.55. The stock’s 50-day moving average is $16.61 and its two-hundred day moving average is $13.74. The company has a market cap of $3.71 billion, a price-to-earnings ratio of 58.82 and a beta of 1.05.

FIGS (NYSE:FIGS) last announced its quarterly earnings results on Thursday, November 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. The firm had revenue of $190.69 million during the quarter, compared to the consensus estimate of $182.82 million. FIGS had a return on equity of 14.78% and a net margin of 9.67%. The firm’s quarterly revenue was up 25.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.05 earnings per share. Equities research analysts anticipate that FIGS, Inc. will post 0.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on FIGS shares. KeyCorp boosted their price objective on shares of FIGS from $20.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, November 6th. Weiss Ratings raised shares of FIGS from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, October 27th. Telsey Advisory Group reduced their target price on FIGS from $17.00 to $16.00 and set a “market perform” rating on the stock in a research report on Friday, August 7th. BTIG Research lifted their price target on shares of FIGS from $22.00 to $25.00 and gave the company a “buy” rating in a report on Friday, October 30th. Finally, Oppenheimer increased their target price on shares of FIGS from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Thursday, October 29th. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.62.

Hedge Funds Weigh In On FIGS

Large investors have recently bought and sold shares of the stock. Diversified Trust Co acquired a new stake in shares of FIGS during the third quarter worth $315,000. Jefferies Financial Group Inc. bought a new position in FIGS during the third quarter valued at approximately $6,286,000. Alps Advisors Inc. bought a new stake in FIGS in the third quarter worth $575,000. State of Wyoming increased its holdings in shares of FIGS by 6.9% during the 3rd quarter. State of Wyoming now owns 69,746 shares of the company’s stock valued at $967,000 after acquiring an additional 4,487 shares during the last quarter. Finally, Sterling Capital Management LLC raised its position in shares of FIGS by 848.2% in the third quarter. Sterling Capital Management LLC now owns 3,167 shares of the company’s stock valued at $44,000 after purchasing an additional 2,833 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

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.