Insider Selling: Funko (NASDAQ:FNKO) CFO Sells $48,171.24 in Stock

Key Points

• Funko CFO Pendeven Le sold 6,862 shares at an average price of $7.02, totaling $48,171.24, under a pre-arranged Rule 10b5-1 trading plan. The sale reduced Le’s direct ownership by 16.04% to 35,907 shares.
• Le also recently sold 35,907 shares for $233,754.57 and 4,000 shares for $28,000, indicating additional insider selling activity.
• Funko shares fell 5% to $5.69, despite the company beating quarterly earnings and revenue estimates. Analysts have a consensus “Hold” rating with an average price target of $7.08.

Funko, Inc. (NASDAQ:FNKO - Get Free Report) CFO Pendeven Le sold 6,862 shares of the company's stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $7.02, for a total transaction of $48,171.24. Following the completion of the sale, the chief financial officer directly owned 35,907 shares in the company, valued at $252,067.14. This represents a 16.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Pendeven Yves Le also recently made the following trade(s):

• On Tuesday, September 1st, Pendeven Le sold 35,907 shares of Funko stock. The stock was sold at an average price of $6.51, for a total transaction of $233,754.57.
• On Thursday, August 27th, Pendeven Le sold 4,000 shares of Funko stock. The shares were sold at an average price of $7.00, for a total transaction of $28,000.00.

Funko Stock Down 5.0%

FNKO traded down $0.30 during midday trading on Thursday, reaching $5.69. The company's stock had a trading volume of 1,695,699 shares, compared to its average volume of 1,428,789. The firm has a market capitalization of $318.24 million, a price-to-earnings ratio of -142.21 and a beta of 0.94. The company has a current ratio of 1.16, a quick ratio of 0.79 and a debt-to-equity ratio of 0.97. Funko, Inc. has a 1 year low of $2.72 and a 1 year high of $7.35. The stock's 50-day moving average is $5.95 and its 200-day moving average is $5.03.

Funko (NASDAQ:FNKO - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.47. The firm had revenue of $207.72 million during the quarter, compared to analyst estimates of $200.96 million. Funko had a negative net margin of 0.21% and a positive return on equity of 2.61%. As a group, research analysts expect that Funko, Inc. will post 0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on FNKO shares. DA Davidson lifted their price target on Funko from $7.00 to $8.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Seaport Research Partners assumed coverage on shares of Funko in a research note on Monday, August 24th. They set a "buy" rating and a $8.00 price objective for the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Funko in a research note on Friday, July 17th. The Goldman Sachs Group reiterated a "neutral" rating and set a $6.75 price target on shares of Funko in a report on Monday, August 10th. Finally, Zacks Research upgraded shares of Funko to a "hold" rating in a report on Wednesday, August 26th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Funko has a consensus rating of "Hold" and an average price target of $7.08.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in FNKO. Invesco Ltd. lifted its stake in shares of Funko by 1.9% in the 4th quarter. Invesco Ltd. now owns 143,809 shares of the company's stock worth $489,000 after purchasing an additional 2,717 shares during the period. Russell Investments Group Ltd. increased its holdings in Funko by 2.5% during the fourth quarter. Russell Investments Group Ltd. now owns 119,879 shares of the company's stock valued at $408,000 after buying an additional 2,930 shares during the last quarter. Rhumbline Advisers increased its holdings in Funko by 8.1% during the second quarter. Rhumbline Advisers now owns 49,431 shares of the company's stock valued at $235,000 after buying an additional 3,697 shares during the last quarter. Bank of New York Mellon Corp raised its position in Funko by 4.7% in the first quarter. Bank of New York Mellon Corp now owns 103,125 shares of the company's stock worth $325,000 after acquiring an additional 4,607 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in Funko by 14.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 51,276 shares of the company's stock worth $175,000 after acquiring an additional 6,500 shares during the period. 99.15% of the stock is owned by hedge funds and other institutional investors.

About Funko

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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