Heather L. Hasson, Executive Chair of FIGS, Inc. (NYSE:FIGS), recently executed a stock sale amounting to $160,088, according to a filing with the Securities and Exchange Commission. The transaction involved the sale of 26,855 shares of Class A Common Stock at an average price of $5.9612 per share. This sale was conducted to cover tax obligations related to the vesting and settlement of restricted stock units (RSUs) as per a 10b5-1 instruction letter. The sale comes as FIGS trades near $6.08, approaching its 52-week high of $7.05, with the stock showing strong momentum over the past month according to InvestingPro data.
Following this transaction, Hasson holds 354,221 shares directly. Additionally, she has indirect holdings through the Heather Hasson Revocable Trust and Hollywood Capital Partners (WA:CPAP) LLC, totaling 8,479 shares. Furthermore, Hasson possesses 14,205 RSUs and 2,814,480 shares of Class B Common Stock, which are convertible into Class A shares, alongside 14,964,581 shares underlying vested options. With FIGS currently valued at approximately $1.03 billion, InvestingPro analysis reveals 12+ additional insights about the company's valuation and financial health, available in the comprehensive Pro Research Report.
In other recent news, FIGS, Inc. reported mixed Q3 results, with a 17% growth but a 2% decrease in net revenue to $140.2 million and a net loss of $1.7 million. This contrasts with a profit of $6.1 million in the same quarter the previous year. The company's scrubwear sales experienced a modest 2% increase, while non-scrubwear sales, particularly footwear, declined by a significant 16%.
Long-term shareholder Applied Fundamental Research (AFR) has called on FIGS to define a clear capital allocation strategy to enhance shareholder value, emphasizing the importance of rejecting any acquisition offers that do not reflect FIGS' true value. AFR also suggested that FIGS should articulate investment priorities and strategies for funding innovation.
Despite these developments, FIGS maintains a strong balance sheet with $281.7 million in cash and no debt, and continues to expand internationally, now operating in 33 countries with a focus on Asia. The company also announced its plans to open a Canadian distribution center in H2 2025 and expects to transition expense headwinds into tailwinds in the same year.
In addition, FIGS is investing in community engagement and education through a $25 million investment in a new company, OOG. The company remains committed to long-term value creation through strategic partnerships and plans to maintain a disciplined marketing approach while remaining opportunistic for future campaigns. These are just a few of the recent developments concerning FIGS, Inc.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.