FIGS, Inc. (NYSE:FIGS) Receives Average Rating of “Reduce” from Brokerages

FIGS, Inc. (NYSE:FIGS) has been assigned a consensus recommendation of “Reduce” from the six analysts that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $5.35.

Several equities research analysts recently weighed in on the company. Barclays dropped their price target on FIGS from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 12th. The Goldman Sachs Group dropped their target price 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. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $7.00 price target on shares of FIGS in a research note on Wednesday, November 13th.

Insider Transactions at FIGS

In other news, insider Heather L. Hasson sold 26,855 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $5.96, for a total value of $160,055.80. Following 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 22.30% of the company’s stock.

Institutional Investors Weigh In On FIGS

Institutional investors and hedge funds have recently made changes to their positions in the company. Bamco Inc. NY raised its position in FIGS by 12.5% in the 3rd quarter. Bamco Inc. NY now owns 30,030,078 shares of the company’s stock worth $205,406,000 after buying an additional 3,342,755 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of FIGS during the 4th quarter valued at about $12,152,000. Bank of New York Mellon Corp grew its stake 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 acquiring an additional 1,052,384 shares during the period. Millennium Management LLC raised its holdings in shares of FIGS by 296.4% during the second quarter. Millennium Management LLC now owns 623,536 shares of the company’s stock valued at $3,323,000 after purchasing an additional 466,252 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in FIGS by 165.4% during the third quarter. JPMorgan Chase & Co. now owns 598,028 shares of the company’s stock valued at $4,091,000 after purchasing an additional 372,693 shares during the period. Institutional investors own 92.21% of the company’s stock.

FIGS Stock Performance

FIGS stock opened at $5.13 on Wednesday. FIGS has a fifty-two week low of $4.30 and a fifty-two week high of $7.05. The stock’s 50 day simple moving average is $5.78 and its two-hundred day simple moving average is $5.81. The stock has a market cap of $871.13 million, a price-to-earnings ratio of 85.50, a PEG ratio of 32.70 and a beta of 1.22.

FIGS Company Profile

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.