Victory Capital Management Inc. Sells 234,790 Shares of FIGS, Inc. (NYSE:FIGS)

Victory Capital Management Inc. lessened its stake in shares of FIGS, Inc. (NYSE:FIGS) by 92.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,688 shares of the company’s stock after selling 234,790 shares during the period. Victory Capital Management Inc.’s holdings in FIGS were worth $100,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Bamco Inc. NY grew its position in shares of FIGS by 2.0% during the 1st quarter. Bamco Inc. NY now owns 25,731,980 shares of the company’s stock valued at $128,145,000 after acquiring an additional 516,496 shares during the period. Vanguard Group Inc. increased its position in FIGS by 1.7% in the first quarter. Vanguard Group Inc. now owns 12,597,318 shares of the company’s stock worth $62,735,000 after buying an additional 206,673 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of FIGS by 321.5% in the fourth quarter. Wellington Management Group LLP now owns 3,075,794 shares of the company’s stock valued at $21,377,000 after buying an additional 2,345,994 shares during the period. Applied Fundamental Research LLC raised its stake in shares of FIGS by 25.8% in the first quarter. Applied Fundamental Research LLC now owns 2,495,381 shares of the company’s stock valued at $12,427,000 after buying an additional 511,794 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of FIGS by 16.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,307,304 shares of the company’s stock valued at $12,298,000 after buying an additional 322,358 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Insiders Place Their Bets

In other FIGS news, insider Heather L. Hasson sold 40,149 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $5.70, for a total value of $228,849.30. Following the completion of the transaction, the insider now directly owns 425,710 shares of the company’s stock, valued at approximately $2,426,547. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold 44,591 shares of company stock worth $255,460 in the last three months. 22.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

FIGS has been the topic of a number of research reports. The Goldman Sachs Group boosted their price objective on FIGS from $4.25 to $4.75 and gave the company a “sell” rating in a research note on Friday, August 9th. Telsey Advisory Group reissued a “market perform” rating and issued a $6.00 price target on shares of FIGS in a research report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $5.40.

FIGS Stock Performance

Shares of FIGS opened at $6.46 on Wednesday. FIGS, Inc. has a 52-week low of $4.30 and a 52-week high of $7.98. The stock’s 50-day simple moving average is $5.82 and its 200 day simple moving average is $5.39. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 58.73, a price-to-earnings-growth ratio of 71.07 and a beta of 1.42.

FIGS (NYSE:FIGS) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.01 earnings per share for the quarter. FIGS had a return on equity of 4.94% and a net margin of 3.39%. The firm had revenue of $144.23 million for the quarter, compared to analysts’ expectations of $142.25 million. During the same period in the prior year, the business posted $0.02 earnings per share. The company’s revenue was up 4.4% on a year-over-year basis. On average, research analysts forecast that FIGS, Inc. will post 0.03 earnings per share for the current fiscal year.

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.