State Street Corp Cuts Position in Funko, Inc. (NASDAQ:FNKO)

State Street Corp reduced its position in Funko, Inc. (NASDAQ:FNKO) by 1.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 686,252 shares of the company’s stock after selling 7,928 shares during the period. State Street Corp’s holdings in Funko were worth $8,386,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of FNKO. Massachusetts Financial Services Co. MA grew its stake in Funko by 21.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,546,036 shares of the company’s stock worth $34,609,000 after buying an additional 619,114 shares during the period. Marshall Wace LLP lifted its holdings in shares of Funko by 160.1% during the 2nd quarter. Marshall Wace LLP now owns 1,062,968 shares of the company’s stock valued at $10,375,000 after acquiring an additional 654,359 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Funko by 81.1% during the 2nd quarter. American Century Companies Inc. now owns 250,121 shares of the company’s stock valued at $2,441,000 after acquiring an additional 112,007 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Funko during the 2nd quarter worth $1,138,000. Finally, Bank of New York Mellon Corp increased its holdings in Funko by 9.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 113,833 shares of the company’s stock valued at $1,111,000 after purchasing an additional 10,034 shares in the last quarter. Hedge funds and other institutional investors own 99.15% of the company’s stock.

Funko Stock Performance

NASDAQ:FNKO opened at $13.24 on Friday. The firm has a 50-day moving average of $11.58 and a two-hundred day moving average of $10.78. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.96 and a quick ratio of 0.64. The stock has a market cap of $717.03 million, a P/E ratio of -27.58 and a beta of 1.22. Funko, Inc. has a 1-year low of $5.36 and a 1-year high of $13.40.

Wall Street Analyst Weigh In

A number of research analysts have commented on FNKO shares. Stifel Nicolaus boosted their price objective on Funko from $9.00 to $10.50 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. B. Riley boosted their price target on Funko from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Funko in a research report on Thursday, November 14th.

Insider Buying and Selling

In related news, insider Tracy D. Daw sold 14,650 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $12.55, for a total transaction of $183,857.50. Following the transaction, the insider now directly owns 6,362 shares in the company, valued at $79,843.10. This trade represents a 69.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael C. Lunsford sold 7,361 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $12.02, for a total transaction of $88,479.22. Following the sale, the director now owns 108,613 shares in the company, valued at approximately $1,305,528.26. This trade represents a 6.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 119,011 shares of company stock worth $1,281,137. 4.81% of the stock is currently owned by corporate insiders.

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.