Funko (NASDAQ:FNKO) Shares Gap Down Following Analyst Downgrade

Shares of Funko, Inc. (NASDAQ:FNKO) gapped down before the market opened on Friday after DA Davidson lowered their price target on the stock from $16.00 to $13.00. The stock had previously closed at $10.37, but opened at $9.84. DA Davidson currently has a buy rating on the stock. Funko shares last traded at $9.40, with a volume of 1,422,383 shares.

Separately, Stifel Nicolaus lifted their price target on shares of Funko from $11.00 to $12.00 and gave the stock a “hold” rating in a research note on Friday, January 3rd.

Insiders Place Their Bets

In other Funko news, insider Tracy D. Daw sold 14,650 shares of Funko stock in a transaction on Friday, December 20th. The shares were sold at an average price of $12.55, for a total transaction of $183,857.50. Following the sale, the insider now owns 6,362 shares in the company, valued at $79,843.10. The trade was a 69.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Andrew David Oddie sold 27,712 shares of Funko stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $13.67, for a total transaction of $378,823.04. Following the sale, the insider now owns 20,186 shares in the company, valued at $275,942.62. This represents a 57.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,079 shares of company stock worth $572,769 over the last 90 days. Corporate insiders own 4.81% of the company’s stock.

Institutional Investors Weigh In On Funko

Institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in shares of Funko by 5,486.5% in the third quarter. JPMorgan Chase & Co. now owns 829,200 shares of the company’s stock valued at $10,133,000 after buying an additional 814,357 shares during the last quarter. TBH Global Asset Management LLC bought a new stake in Funko during the 4th quarter worth about $2,748,000. FMR LLC raised its holdings in Funko by 1,541.0% during the 3rd quarter. FMR LLC now owns 57,649 shares of the company’s stock worth $704,000 after purchasing an additional 54,136 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Funko during the 3rd quarter worth about $860,000. Finally, Barclays PLC raised its holdings in Funko by 278.5% during the 3rd quarter. Barclays PLC now owns 40,972 shares of the company’s stock worth $501,000 after purchasing an additional 30,147 shares during the last quarter. Institutional investors and hedge funds own 99.15% of the company’s stock.

Funko Price Performance

The stock has a market capitalization of $485.78 million, a P/E ratio of -18.69 and a beta of 0.94. The company has a current ratio of 0.96, a quick ratio of 0.64 and a debt-to-equity ratio of 0.44. The company has a fifty day simple moving average of $13.27 and a two-hundred day simple moving average of $12.10.

About Funko

Funko, Inc, a pop culture consumer products company, designs, sources, and distributes licensed pop culture products in the United States, Europe, and internationally. The company provides media and entertainment content, including movies, television (TV) shows, video games, music, and sports; figures, handbags, backpacks, wallets, apparel, accessories, plush products, homewares, and digital non-fungible tokens; and art prints and vinyl records, posters, soundtracks, toys, books, games, and other collectibles.