UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Stake in FIGS, Inc. (NYSE:FIGS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in shares of FIGS, Inc. (NYSE:FIGS) by 10.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 216,882 shares of the company’s stock after selling 26,438 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.13% of FIGS worth $1,483,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Dakota Wealth Management purchased a new stake in FIGS during the second quarter valued at about $57,000. Verus Capital Partners LLC purchased a new stake in FIGS during the 2nd quarter valued at about $79,000. Creative Planning grew its position in FIGS by 17.7% during the 3rd quarter. Creative Planning now owns 12,697 shares of the company’s stock worth $87,000 after acquiring an additional 1,911 shares during the last quarter. GSA Capital Partners LLP purchased a new position in FIGS in the 3rd quarter worth approximately $104,000. Finally, Seven Eight Capital LP bought a new stake in FIGS in the second quarter valued at approximately $144,000. 92.21% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Barclays decreased their price objective on shares of 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 cut 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. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $7.00 price objective on shares of FIGS in a report on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, FIGS currently has an average rating of “Hold” and an average target price of $5.35.

FIGS Price Performance

NYSE:FIGS opened at $6.01 on Tuesday. The company has a market capitalization of $1.02 billion, a PE ratio of 100.17, a P/E/G ratio of 299.52 and a beta of 1.33. FIGS, Inc. has a 1-year low of $4.30 and a 1-year high of $7.98. The firm’s 50-day moving average price is $5.72 and its 200-day moving average price is $5.71.

FIGS 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.