Insider Selling: Funko (NASDAQ:FNKO) CEO Sells 181,893 Shares of Stock

Key Points

• CEO Josh Simon sold 181,893 Funko shares at an average price of $5.79, worth approximately $1.05 million. The sale reduced his holdings by 54.57% and was made to cover tax obligations tied to vested equity awards.
• Funko shares traded near $5.68, while the company’s latest quarterly results exceeded expectations, with adjusted EPS of $0.26 versus an expected loss of $0.21 and revenue of $207.72 million.
• Analyst sentiment remains mixed, with Funko holding an average “Hold” rating and a $7.08 price target; institutional investors own approximately 99.15% of the company’s stock.

Funko, Inc. (NASDAQ:FNKO - Get Free Report) CEO Josh Simon sold 181,893 shares of the company's stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $5.79, for a total value of $1,053,160.47. Following the sale, the chief executive officer owned 151,440 shares of the company's stock, valued at $876,837.60. This trade represents a 54.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Funko Stock Performance

NASDAQ:FNKO traded down $0.01 during midday trading on Friday, reaching $5.68. The stock had a trading volume of 858,535 shares, compared to its average volume of 975,770. The firm has a fifty day simple moving average of $5.95 and a two-hundred day simple moving average of $5.03. Funko, Inc. has a 12-month low of $2.72 and a 12-month high of $7.35. The company has a quick ratio of 0.79, a current ratio of 1.16 and a debt-to-equity ratio of 0.97. The stock has a market cap of $317.68 million, a P/E ratio of -141.96 and a beta of 0.94.

Funko (NASDAQ:FNKO - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.26 EPS for the quarter, topping analysts' consensus estimates of ($0.21) by $0.47. The company had revenue of $207.72 million during the quarter, compared to the consensus estimate of $200.96 million. Funko had a negative net margin of 0.21% and a positive return on equity of 2.61%. On average, equities analysts expect that Funko, Inc. will post 0.34 EPS for the current year.

Institutional Trading of Funko

Several large investors have recently bought and sold shares of the company. SG Americas Securities LLC boosted its position in shares of Funko by 2,249.0% in the 1st quarter. SG Americas Securities LLC now owns 258,597 shares of the company's stock worth $815,000 after buying an additional 247,588 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Funko by 850,199.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,401,196 shares of the company's stock valued at $11,564,000 after acquiring an additional 3,400,796 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Funko during the second quarter worth about $648,000. Renaissance Technologies LLC acquired a new stake in shares of Funko in the first quarter valued at approximately $137,000. Finally, Odyssean LLC purchased a new position in shares of Funko during the 4th quarter worth approximately $98,000. Institutional investors and hedge funds own 99.15% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Wall Street Zen upgraded Funko from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Seaport Research Partners started coverage on Funko in a research note on Monday, August 24th. They issued a "buy" rating and a $8.00 price target on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Funko in a report on Friday, July 17th. The Goldman Sachs Group reissued a "neutral" rating and issued a $6.75 target price on shares of Funko in a report on Monday, August 10th. Finally, DA Davidson boosted their target price on shares of Funko from $7.00 to $8.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Funko currently has an average rating of "Hold" and an average price target of $7.08.

Funko Company Profile

Funko, Inc is a pop culture consumer products company best known for its stylized vinyl figures, apparel, accessories and other licensed collectible goods. The company's signature product line, Funko Pop!, features bobblehead-style figurines that showcase characters from a wide array of entertainment franchises, including film, television, gaming, sports and music. In addition to vinyl figurines, Funko's portfolio encompasses plush toys, action figures, stationery, home goods and novelty items, all leveraging licensing agreements with major global brands.

Founded in 1998 by Mike Becker in Washington state, Funko initially focused on creating nostalgic bobbleheads before expanding its product offerings under current leadership.

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