BlackRock Amends FIGS Stake, Maintains Significant Ownership
Ticker: FIGS · Form: SC 13G/A · Filed: 2024-01-29T00:00:00.000Z
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**BlackRock still owns a big chunk of FIGS, signaling continued institutional confidence.**
AI Summary
BlackRock, Inc. has filed an amended Schedule 13G/A for FIGS, Inc. as of December 31, 2023. This filing indicates that BlackRock continues to hold a significant stake in FIGS' Class A Common Stock, maintaining its position as a major institutional investor. This matters to investors because BlackRock's continued substantial ownership signals confidence in FIGS' long-term prospects, potentially influencing other investors and providing a degree of stability to the stock.
Why It Matters
BlackRock's sustained large investment in FIGS suggests institutional confidence, which can positively influence market perception and the stock's stability.
Risk Assessment
Risk Level: low — This filing indicates a stable institutional ownership, which generally reduces volatility and risk for the stock.
Analyst Insight
Investors should note BlackRock's continued presence as a major shareholder, which can be a positive signal, but should also conduct their own due diligence on FIGS' fundamentals.
Key Players & Entities
- BlackRock, Inc. (company) — the reporting person and institutional investor
- FIGS, Inc. (company) — the subject company whose securities are being reported
- December 31, 2023 (date) — the date of the event requiring the filing
- Class A Common Stock (company) — the type of securities held by BlackRock in FIGS, Inc.
Forward-Looking Statements
- BlackRock will maintain a significant stake in FIGS, Inc. throughout 2024. (BlackRock, Inc.) — medium confidence, target: 2024-12-31
- FIGS, Inc. stock will experience continued institutional investor interest. (FIGS, Inc.) — medium confidence, target: 2024-06-30
FAQ
What type of filing is this document?
This document is an SC 13G/A, which is an amendment to a Schedule 13G filing under the Securities Exchange Act of 1934.
Who is the reporting person in this filing?
The reporting person is BlackRock, Inc., a security broker, dealer, and flotation company based in New York, NY.
What is the subject company of this filing?
The subject company is FIGS, Inc., an apparel and other finished products manufacturer based in Santa Monica, CA.
What is the CUSIP number for the securities mentioned in this filing?
The CUSIP number for the Class A Common Stock of FIGS, Inc. is 30260D103.
What was the date of the event that required this filing?
The date of the event which required the filing of this statement was December 31, 2023.
From the Filing
EDGAR Filing Documents for 0001086364-24-005070 This page uses Javascript. Your browser either doesn't support Javascript or you have it turned off. To see this page as it is meant to appear please use a Javascript enabled browser. SEC.gov EDGAR Latest Filings Filings search tools Filing Detail SEC Home Company Search Current Page Form SC 13G/A - Statement of Beneficial Ownership by Certain Investors: [Amend] SEC Accession No. 0001086364-24-005070 Filing Date 2024-01-29 Accepted 2024-01-29 15:26:26 Documents 1 Document Format Files Seq Description Document Type Size 1 us30260d1037_012924.txt SC 13G/A 11792 Complete submission text file 0001086364-24-005070.txt 13650 Mailing Address 50 HUDSON YARDS NEW YORK NY 10001 Business Address 50 HUDSON YARDS NEW YORK NY 10001 212-810-5300 BlackRock Inc. (Filed by) CIK : 0001364742 (see all company filings) EIN. : 320174431 | State of Incorp.: DE | Fiscal Year End: 1231 Type: SC 13G/A SIC : 6211 Security Brokers, Dealers & Flotation Companies (CF Office: 02 Finance) Mailing Address 2834 COLORADO AVENUE SUITE 100 SANTA MONICA CA 90404 Business Address 2834 COLORADO AVENUE SUITE 100 SANTA MONICA CA 90404 420-500-8209 FIGS, Inc. (Subject) CIK : 0001846576 (see all company filings) EIN. : 000000000 | State of Incorp.: DE | Fiscal Year End: 1231 Type: SC 13G/A | Act: 34 | File No.: 005-92580 | Film No.: 24573131 SIC : 2300 Apparel & Other Finishd Prods of Fabrics & Similar Matl (CF Office: 04 Manufacturing)