Should Investors Sell Figs as Security Benefit Liquidates its $3.3 Million Position in the Stock?

Core Insights - Security Benefit Life Insurance Co. exited its position in FIGS, Inc., selling 565,560 shares for an estimated $3.19 million [1][2] - The sale eliminated a position that accounted for 1.51% of assets under management as of the end of the previous quarter [2] - As of November 24, 2025, FIGS shares were priced at $9.59, reflecting a 103% increase over the past year, significantly outperforming the S&P 500 by 87 percentage points [3] Company Overview - FIGS, Inc. is a healthcare apparel company focused on the direct-to-consumer segment, utilizing a digital-first approach to reach medical professionals [5] - The company offers a range of products including scrubs, lab coats, and accessories, primarily generating revenue through online sales [7] - FIGS aims to maintain its leadership in the premium medical apparel market with a scalable platform and strong presence in the U.S. healthcare sector [5] Financial Performance - For the trailing twelve months (TTM), FIGS reported revenue of $581.03 million and a net income of $17.63 million [4] - The company's stock price has seen a one-year change of 103%, indicating strong market performance [4] Market Position and Growth Potential - FIGS has a repeat sales model due to the nature of its products, which need to be continually replaced [9] - The company experienced an 8% sales growth in its last quarter, marking its highest growth in two years, although this is considered modest for a young company [10] - Currently, FIGS has a net income margin of 6%, with potential to improve towards a 15% margin, similar to peers like Lululemon [11] - Approximately 14% of FIGS' sales come from international markets, where it holds a market share of less than 1%, indicating room for growth in these regions [12]