FIGS (NYSE:FIGS) Shares Down 5.1% – Time to Sell?

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on FIGS shares. Telsey Advisory Group reissued a “market perform” rating and issued a $7.00 price target on shares of FIGS in a report on Friday, February 28th. 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. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.35.

FIGS Stock Performance

The company’s 50-day moving average price is $5.35 and its 200 day moving average price is $5.68. The stock has a market capitalization of $691.52 million, a PE ratio of 70.92, a PEG ratio of 31.62 and a beta of 1.26.

Insider Activity at FIGS

In related news, insider Heather L. Hasson sold 26,855 shares of FIGS 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 transaction, the insider now directly owns 354,221 shares of the company’s stock, valued at $2,111,157.16. This trade represents a 7.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 22.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Bamco Inc. NY lifted its position in FIGS by 2.7% during the 4th quarter. Bamco Inc. NY now owns 30,837,759 shares of the company’s stock valued at $190,886,000 after acquiring an additional 807,681 shares during the period. Vanguard Group Inc. increased its stake in FIGS by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 12,799,729 shares of the company’s stock valued at $79,230,000 after purchasing an additional 153,836 shares in the last quarter. Ameriprise Financial Inc. increased its stake in FIGS by 37.9% during the 4th quarter. Ameriprise Financial Inc. now owns 12,188,166 shares of the company’s stock valued at $75,445,000 after purchasing an additional 3,352,846 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its stake in FIGS by 1.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,681,768 shares of the company’s stock valued at $66,121,000 after purchasing an additional 110,472 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in FIGS by 23.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,350,572 shares of the company’s stock valued at $26,931,000 after purchasing an additional 827,149 shares in the last quarter. 92.21% of the stock is owned by hedge funds and other 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.