FIGS (NYSE:FIGS) Sees Unusually-High Trading Volume – Still a Buy?

FIGS, Inc. (NYSE:FIGS) saw unusually-strong trading volume on Friday . Approximately 1,256,083 shares traded hands during trading, a decline of 28% from the previous session’s volume of 1,736,115 shares.The stock last traded at $5.87 and had previously closed at $6.08.

Analyst Ratings Changes

Several brokerages recently issued reports on FIGS. Telsey Advisory Group reiterated a “market perform” rating and issued a $7.00 target price on shares of FIGS in a research report on Wednesday, November 13th. The Goldman Sachs Group cut their price objective on FIGS from $5.00 to $4.50 and set a “sell” rating for the company in a report on Tuesday, December 10th. Finally, Barclays decreased their price objective on FIGS from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 12th. Two investment 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, the stock has a consensus rating of “Hold” and an average price target of $5.35.

FIGS Stock Performance

The company has a market cap of $1.02 billion, a P/E ratio of 100.33, a price-to-earnings-growth ratio of 290.40 and a beta of 1.33. The business has a 50 day moving average price of $5.56 and a two-hundred day moving average price of $5.80.

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 shares were 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 in the company, valued at approximately $2,111,157.16. This represents a 7.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 22.30% of the company’s stock.

Institutional Investors Weigh In On FIGS

Large investors have recently made changes to their positions in the business. Bamco Inc. NY lifted its stake in FIGS by 12.5% in the third quarter. Bamco Inc. NY now owns 30,030,078 shares of the company’s stock worth $205,406,000 after acquiring an additional 3,342,755 shares during the period. Geode Capital Management LLC boosted its stake in shares of FIGS by 3.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,977,364 shares of the company’s stock valued at $20,369,000 after purchasing an additional 109,979 shares in the last quarter. State Street Corp increased its position in shares of FIGS by 1.4% during the third quarter. State Street Corp now owns 2,743,494 shares of the company’s stock valued at $18,765,000 after buying an additional 38,787 shares during the period. Applied Fundamental Research LLC raised its stake in FIGS by 6.1% in the third quarter. Applied Fundamental Research LLC now owns 2,648,281 shares of the company’s stock worth $18,114,000 after buying an additional 152,900 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its holdings in FIGS by 318.1% in the second quarter. Squarepoint Ops LLC now owns 1,516,131 shares of the company’s stock worth $8,081,000 after buying an additional 1,153,481 shares during the period. 92.21% of the stock is currently owned by institutional investors.

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.