Shell Asset Management Co. Purchases 10,848 Shares of FIGS, Inc. (NYSE:FIGS)

Shell Asset Management Co. grew its position in shares of FIGS, Inc. (NYSE:FIGSGet Rating) by 187.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,637 shares of the company’s stock after purchasing an additional 10,848 shares during the period. Shell Asset Management Co.’s holdings in FIGS were worth $358,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of FIGS. Brown Advisory Inc. purchased a new position in shares of FIGS in the fourth quarter worth about $204,000. State of Michigan Retirement System purchased a new position in shares of FIGS in the fourth quarter worth about $623,000. Qube Research & Technologies Ltd increased its holdings in shares of FIGS by 318.8% in the fourth quarter. Qube Research & Technologies Ltd now owns 43,583 shares of the company’s stock worth $1,201,000 after buying an additional 33,176 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of FIGS in the fourth quarter worth about $131,000. Finally, Sanders Morris Harris LLC increased its holdings in shares of FIGS by 53.5% in the fourth quarter. Sanders Morris Harris LLC now owns 189,100 shares of the company’s stock worth $5,212,000 after buying an additional 65,900 shares during the period. Hedge funds and other institutional investors own 70.56% of the company’s stock.

FIGS Stock Performance

FIGS stock opened at $11.04 on Friday. FIGS, Inc. has a fifty-two week low of $6.93 and a fifty-two week high of $48.63. The business’s 50 day moving average price is $9.07 and its two-hundred day moving average price is $14.70. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of -92.00, a price-to-earnings-growth ratio of 34.32 and a beta of 1.65.

FIGS (NYSE:FIGSGet Rating) last posted its earnings results on Thursday, May 12th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). FIGS had a negative return on equity of 1.96% and a negative net margin of 2.73%. The firm had revenue of $110.10 million for the quarter, compared to analysts’ expectations of $117.33 million. During the same quarter last year, the company posted $0.07 EPS. The firm’s revenue was up 26.4% on a year-over-year basis. Sell-side analysts forecast that FIGS, Inc. will post 0.15 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on FIGS. KeyCorp began coverage on FIGS in a report on Thursday, July 21st. They issued a “sector weight” rating on the stock. Raymond James started coverage on FIGS in a report on Thursday, June 30th. They set a “strong-buy” rating and a $15.00 price target on the stock. Oppenheimer reduced their price target on FIGS from $45.00 to $22.00 and set a “na” rating on the stock in a report on Monday, May 16th. The Goldman Sachs Group downgraded FIGS from a “neutral” rating to a “sell” rating and reduced their price target for the company from $14.00 to $7.00 in a report on Thursday, July 21st. Finally, FIG Partners downgraded FIGS from a “buy” rating to a “neutral” rating and reduced their price target for the company from $32.00 to $12.00 in a report on Monday, May 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, FIGS currently has a consensus rating of “Moderate Buy” and an average price target of $20.54.

FIGS Profile

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FIGS, Inc operates as a direct-to-consumer healthcare apparel and lifestyle company in the United States. It designs and sells healthcare apparel and other non-scrub offerings, such as lab coats, under scrubs, outerwear, activewear, loungewear, compression socks footwear, and masks. It also offers sports bras, performance leggings, tops, super-soft pima cotton tops, vests, and jackets.

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Institutional Ownership by Quarter for FIGS (NYSE:FIGS)

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