DoD tests AI models that make it easy to switch from vendors like Palantir
Heather Hasson, the Executive Chair of FIGS, Inc. (NYSE:FIGS), recently sold 1,931 shares of the company’s Class A common stock. The shares were sold at an average price of $4.8292 each, totaling approximately $9,325. This transaction was carried out 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, currently valued at $759 million, maintains impressive gross profit margins of 68% and strong liquidity with a current ratio of 4.25. According to InvestingPro analysis, the stock appears undervalued at its current trading price of $4.65.
Following the transaction, Hasson holds 352,290 shares directly. Additionally, she has indirect ownership of 8,338 shares through the Heather Hasson Revocable Trust and 141 shares via Hollywood Capital Partners (WA:CPAP) LLC. Furthermore, Hasson retains significant holdings in FIGS, including 2,814,480 shares of Class B common stock and 14,994,877 shares of Class A common stock underlying vested options. InvestingPro subscribers can access 11 additional key insights about FIGS, including detailed analysis of the company’s financial health and growth prospects.
In other recent news, Figs Inc. reported its fourth-quarter 2024 earnings, showcasing a revenue of $151.8 million, which exceeded analyst expectations of $139.49 million. Despite this revenue beat, the company’s earnings per share (EPS) fell short, reporting $0.01 against a forecast of $0.03. Figs continues to expand its international reach, entering markets in Japan and South Korea, alongside launching new product innovations like Formax fabric. Analysts from firms such as Goldman Sachs have inquired about Figs’ strategic shift in promotional activities, highlighting the company’s improved inventory levels and focus on long-term brand health. The company also announced plans for further international expansion and retail development, with a projected low single-digit decline in net revenues for 2025. Figs’ adjusted EBITDA margin for the quarter was reported at 13.9%, aligning with its strategic initiatives. The company holds $245.1 million in cash and investments, maintaining a strong financial position.
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