FIGS (NYSE:FIGS) Shares Down 5.1% – What’s Next?

FIGS, Inc. (NYSE:FIGS) was down 5.1% on Friday . The company traded as low as $4.20 and last traded at $4.20. Approximately 681,152 shares traded hands during trading, a decline of 77% from the average daily volume of 2,929,822 shares. The stock had previously closed at $4.42.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. The Goldman Sachs Group decreased their price target on FIGS from $5.00 to $4.50 and set a “sell” rating for the company in a research note on Tuesday, December 10th. Telsey Advisory Group reiterated a “market perform” rating and issued a $7.00 price target on shares of FIGS in a research note on Friday, February 28th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $5.35.

FIGS Price Performance

The stock has a 50 day moving average price of $5.32 and a two-hundred day moving average price of $5.66. The firm has a market capitalization of $706.31 million, a price-to-earnings ratio of 72.43, a PEG ratio of 31.62 and a beta of 1.26.

Insider Activity

In other FIGS news, insider Heather L. Hasson sold 26,855 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $5.96, for a total transaction of $160,055.80. Following the completion of the sale, the insider now directly owns 354,221 shares of the company’s stock, valued at $2,111,157.16. This represents a 7.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 22.30% of the company’s stock.

Hedge Funds Weigh In On FIGS

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. MetLife Investment Management LLC grew its holdings in shares of FIGS by 3.1% in the 4th quarter. MetLife Investment Management LLC now owns 78,952 shares of the company’s stock worth $489,000 after acquiring an additional 2,355 shares during the period. Malaga Cove Capital LLC grew its holdings in shares of FIGS by 1.2% in the 4th quarter. Malaga Cove Capital LLC now owns 216,669 shares of the company’s stock worth $1,341,000 after acquiring an additional 2,547 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of FIGS by 3.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,943 shares of the company’s stock worth $458,000 after acquiring an additional 2,807 shares during the period. FMR LLC grew its holdings in shares of FIGS by 0.3% in the 3rd quarter. FMR LLC now owns 1,155,092 shares of the company’s stock worth $7,901,000 after acquiring an additional 3,000 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of FIGS by 2.7% in the 4th quarter. Invesco Ltd. now owns 145,734 shares of the company’s stock worth $902,000 after acquiring an additional 3,879 shares during the period. Institutional investors and hedge funds 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.