Banque Cantonale Vaudoise Buys New Holdings in FIGS, Inc. (NYSE:FIGS)

Posted by Defense World Staff on May 29th, 2023

Banque Cantonale Vaudoise acquired a new position in shares of FIGS, Inc. (NYSE:FIGS – Get Rating) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,000 shares of the company’s stock, valued at approximately $27,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FIGS. Macquarie Group Ltd. lifted its stake in FIGS by 44.2% in the third quarter. Macquarie Group Ltd. now owns 13,289,241 shares of the company’s stock valued at $109,660,000 after purchasing an additional 4,075,927 shares during the last quarter. BlackRock Inc. raised its position in FIGS by 10.9% during the third quarter. BlackRock Inc. now owns 9,780,882 shares of the company’s stock valued at $80,693,000 after purchasing an additional 957,411 shares in the last quarter. Vanguard Group Inc. raised its position in FIGS by 6.8% during the first quarter. Vanguard Group Inc. now owns 8,494,827 shares of the company’s stock valued at $182,809,000 after purchasing an additional 538,006 shares in the last quarter. Soros Fund Management LLC raised its position in FIGS by 60.7% during the first quarter. Soros Fund Management LLC now owns 2,896,215 shares of the company’s stock valued at $62,327,000 after purchasing an additional 1,094,393 shares in the last quarter. Finally, State Street Corp raised its position in FIGS by 6.8% during the third quarter. State Street Corp now owns 2,791,041 shares of the company’s stock valued at $23,026,000 after purchasing an additional 176,739 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FIGS. Barclays downgraded FIGS from an “equal weight” rating to an “underweight” rating in a report on Tuesday, May 2nd. Oppenheimer dropped their price target on FIGS from $12.00 to $9.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 21st. Roth Mkm started coverage on FIGS in a research report on Wednesday, May 3rd. They issued a “buy” rating and a $9.00 price target on the stock. Cowen boosted their price target on FIGS from $6.00 to $11.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 31st. Finally, Credit Suisse Group dropped their price target on FIGS from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 1st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $8.94.

Insider Buying and Selling at FIGS

In other FIGS news, insider Heather L. Hasson sold 34,448 shares of the stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $7.83, for a total transaction of $269,727.84. Following the completion of the transaction, the insider now owns 1,503,177 shares of the company’s stock, valued at approximately $11,769,875.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Heather L. Hasson sold 34,448 shares of the stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $7.83, for a total value of $269,727.84. Following the completion of the transaction, the insider now owns 1,503,177 shares of the company’s stock, valued at approximately $11,769,875.91. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Catherine Eva Spear purchased 750,000 shares of the stock in a transaction that occurred on Tuesday, March 7th. The stock was acquired at an average cost of $6.32 per share, with a total value of $4,740,000.00. Following the acquisition, the chief executive officer now owns 757,073 shares in the company, valued at approximately $4,784,701.36. The disclosure for this purchase can be found here. Insiders own 21.40% of the company’s stock.

FIGS Stock Performance

Shares of FIGS stock opened at $8.39 on Monday. The company has a market capitalization of $1.40 billion, a P/E ratio of 104.89, a P/E/G ratio of 13.81 and a beta of 1.49. The company has a fifty day moving average of $7.00 and a 200 day moving average of $7.37. FIGS, Inc. has a fifty-two week low of $5.55 and a fifty-two week high of $13.75.

FIGS (NYSE:FIGS – Get Rating) last issued its earnings results on Thursday, May 4th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.02. The company had revenue of $120.23 million during the quarter, compared to the consensus estimate of $112.65 million. FIGS had a net margin of 2.75% and a return on equity of 7.06%. FIGS’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.05 EPS. Analysts forecast that FIGS, Inc. will post 0.06 EPS for the current year.

About FIGS

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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.