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

FIGS, Inc. (NYSE:FIGS)’s stock price dropped 5.1% on Friday . The company traded as low as $4.20 and last traded at $4.20. Approximately 681,152 shares changed hands during 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

FIGS has been the subject of a number of analyst reports. The Goldman Sachs Group reduced their price objective on shares of FIGS from $5.00 to $4.50 and set a “sell” rating for the company in a research note on Tuesday, December 10th. Telsey Advisory Group restated a “market perform” rating and set a $7.00 price objective on shares of FIGS in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $5.35.

FIGS Price Performance

The business’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 P/E ratio of 70.92, a price-to-earnings-growth ratio of 31.62 and a beta of 1.26.

Insider Transactions at FIGS

In other news, insider Heather L. Hasson sold 26,855 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $5.96, for a total value of $160,055.80. Following the completion of the sale, the insider now directly owns 354,221 shares of the company’s stock, valued at $2,111,157.16. This represents a 7.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 22.30% of the company’s stock.

Institutional Trading of FIGS

Hedge funds and other institutional investors have recently modified their holdings of the company. Sugar Maple Asset Management LLC bought a new position in shares of FIGS during the fourth quarter worth $43,000. Blue Trust Inc. boosted its position in shares of FIGS by 395.3% during the fourth quarter. Blue Trust Inc. now owns 7,642 shares of the company’s stock worth $47,000 after acquiring an additional 6,099 shares during the last quarter. Stifel Financial Corp bought a new position in shares of FIGS during the fourth quarter worth $70,000. Cibc World Markets Corp bought a new position in shares of FIGS during the fourth quarter worth $75,000. Finally, Quantinno Capital Management LP bought a new position in shares of FIGS during the fourth quarter worth $82,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

FIGS Company Profile

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.