FIGS (NYSE:FIGS) Price Target Lowered to $4.25 at The Goldman Sachs Group

FIGS (NYSE:FIGS) had its price objective decreased by stock analysts at The Goldman Sachs Group from $4.85 to $4.25 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a “sell” rating on the stock. The Goldman Sachs Group’s target price points to a potential downside of 10.90% from the company’s current price.

FIGS has been the subject of a number of other research reports. Barclays reduced their price target on FIGS from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Friday, March 1st. Oppenheimer downgraded shares of FIGS from an “outperform” rating to a “market perform” rating in a research report on Friday, March 8th. Telsey Advisory Group downgraded shares of FIGS from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $11.00 to $6.00 in a research report on Thursday, February 29th. Finally, Bank of America restated an “underperform” rating and set a $4.50 price objective (down from $8.50) on shares of FIGS in a research report on Tuesday, April 2nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, FIGS presently has an average rating of “Hold” and an average price target of $5.75.

FIGS Price Performance

FIGS stock traded up $0.01 during trading hours on Tuesday, reaching $4.77. 462,531 shares of the stock were exchanged, compared to its average volume of 3,853,932. The firm’s 50-day moving average is $5.29 and its 200-day moving average is $6.06. The company has a market cap of $810.47 million, a price-to-earnings ratio of 43.19, a PEG ratio of 15.47 and a beta of 1.49. FIGS has a 12 month low of $4.37 and a 12 month high of $8.84.

FIGS (NYSE:FIGS) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.03. The company had revenue of $144.90 million during the quarter, compared to analysts’ expectations of $149.09 million. FIGS had a return on equity of 6.72% and a net margin of 4.15%. FIGS’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter last year, the company earned $0.05 EPS. As a group, equities research analysts forecast that FIGS will post 0.06 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Daniella Turenshine sold 4,201 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $6.00, for a total value of $25,206.00. Following the sale, the chief financial officer now owns 425,620 shares of the company’s stock, valued at $2,553,720. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other FIGS news, insider Heather L. Hasson sold 27,547 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $5.93, for a total value of $163,353.71. Following the completion of the sale, the insider now directly owns 499,308 shares of the company’s stock, valued at approximately $2,960,896.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Daniella Turenshine sold 4,201 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $6.00, for a total transaction of $25,206.00. Following the completion of the sale, the chief financial officer now directly owns 425,620 shares of the company’s stock, valued at $2,553,720. The disclosure for this sale can be found here. Insiders have sold a total of 49,334 shares of company stock valued at $285,986 over the last 90 days. 21.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FIGS. Wellington Management Group LLP grew its position in shares of FIGS by 321.5% during the 4th quarter. Wellington Management Group LLP now owns 3,075,794 shares of the company’s stock valued at $21,377,000 after acquiring an additional 2,345,994 shares during the period. Eagle Asset Management Inc. bought a new position in shares of FIGS during the 4th quarter valued at approximately $12,152,000. Bamco Inc. NY grew its position in shares of FIGS by 6.2% during the 3rd quarter. Bamco Inc. NY now owns 25,032,830 shares of the company’s stock valued at $147,694,000 after acquiring an additional 1,470,706 shares during the period. Vanguard Group Inc. grew its position in shares of FIGS by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 12,278,070 shares of the company’s stock valued at $72,441,000 after acquiring an additional 538,251 shares during the period. Finally, Jump Financial LLC grew its position in shares of FIGS by 219.6% during the 3rd quarter. Jump Financial LLC now owns 343,800 shares of the company’s stock valued at $2,028,000 after acquiring an additional 236,243 shares during the period. 92.21% of the stock is 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.