Funko, Inc. (NASDAQ:FNKO), a leading pop culture consumer products company, reported a recent transaction by its Chief Commercial Officer (CCO), Andrew David Oddie. According to the latest filing, Oddie sold 3,730 shares of Funko's Class A Common Stock on April 30, 2024, at a weighted average price between $5.95 and $5.99. The total value of the shares sold amounted to approximately $22,254.
The transaction was executed following the vesting of restricted stock units (RSUs) on April 29, 2024, which Oddie had been granted as part of his compensation package. The sale was conducted in accordance with a pre-arranged Rule 10b5-1 trading plan, which allows company insiders to sell shares at predetermined times to avoid concerns about insider trading.
As part of the same vesting event, Oddie also acquired 7,314 shares of Class A Common Stock through the conversion of an equal number of RSUs, at no cost. These RSUs were granted on April 29, 2020, and were set to vest over four years, contingent upon Oddie's continued employment with Funko.
Following these transactions, Oddie's direct ownership in the company decreased slightly, but he still holds a significant number of shares. The filing noted that the total number of Class A common stock reported does not reflect any common units beneficially owned by Oddie.
Investors and Funko followers often monitor insider transactions as they provide insights into executives' perspectives on the company's stock value. Funko's stock performance and insider transactions are closely watched, especially given the company's influential position in the games, toys, and children's vehicles market.
Funko, Inc., headquartered in Everett, Washington, is known for its diverse array of licensed pop culture products, including vinyl figures, action toys, plush, apparel, and board games. The company's products are inspired by a broad spectrum of properties, including movies, TV shows, video games, and more, making it a staple among pop culture enthusiasts.
InvestingPro Insights
In light of the recent insider transaction at Funko, Inc. (NASDAQ:FNKO), a deeper look at the company's financial health and market performance through InvestingPro data could provide investors with additional context. As of the latest metrics, Funko's market capitalization stands at $321.83 million, reflecting the market's valuation of the company. Despite the company's significant presence in the pop culture merchandise sector, it is currently grappling with profitability challenges. The price-to-earnings (P/E) ratio, an indicator of investor expectations of future earnings, is negative at -1.91, with an adjusted P/E ratio for the last twelve months as of Q4 2023 at -2.3. This suggests that analysts do not expect the company to be profitable in the near term, which aligns with one of the InvestingPro Tips indicating that Funko may not be profitable this year.
Furthermore, the company's stock price has experienced a notable decline over the past three months, with a 19% drop in total return, potentially signaling investor concerns or a broader market trend. Adding to the financial scrutiny, Funko's revenue has seen a downturn, with a -17.13% change over the last twelve months as of Q4 2023. This could be a contributing factor to the executive's decision to sell shares following the vesting of RSUs.
For those looking to delve deeper into Funko's financials and market prospects, there are additional InvestingPro Tips available. For instance, Funko operates with a significant debt burden and may have trouble making interest payments on its debt. These insights could be crucial for investors considering the impact of financial leverage on the company's future. With a total of 6 InvestingPro Tips available for Funko, interested parties can visit https://www.investing.com/pro/FNKO for a comprehensive analysis. Additionally, users can take advantage of an exclusive offer using the coupon code PRONEWS24 to get an extra 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking even more in-depth financial data and expert insights.
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