DA Davidson Lowers Funko (NASDAQ:FNKO) Price Target to $13.00

Funko (NASDAQ:FNKO) had its target price cut by analysts at DA Davidson from $16.00 to $13.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. DA Davidson’s target price would suggest a potential upside of 44.93% from the stock’s previous close.

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

Funko Stock Down 13.5 %

Shares of FNKO traded down $1.40 during midday trading on Friday, reaching $8.97. 2,934,649 shares of the stock were exchanged, compared to its average volume of 801,263. The company has a market cap of $485.78 million, a price-to-earnings ratio of -18.69 and a beta of 0.94. The company has a quick ratio of 0.64, a current ratio of 0.96 and a debt-to-equity ratio of 0.44. Funko has a 12-month low of $5.36 and a 12-month high of $14.65. The firm has a 50 day simple moving average of $13.36 and a 200-day simple moving average of $12.09.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FNKO. New York State Teachers Retirement System acquired a new position in shares of Funko in the 4th quarter worth approximately $38,000. Quest Partners LLC raised its stake in Funko by 160.9% during the third quarter. Quest Partners LLC now owns 6,559 shares of the company’s stock worth $80,000 after acquiring an additional 4,045 shares in the last quarter. Walleye Capital LLC acquired a new position in Funko during the third quarter worth $129,000. Intech Investment Management LLC acquired a new stake in shares of Funko in the 4th quarter valued at $148,000. Finally, Hsbc Holdings PLC bought a new stake in Funko during the fourth quarter worth about $152,000. Institutional investors own 99.15% of the company’s stock.

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.