In a recent transaction, Tracy D. Daw, the Chief Legal Officer of Funko, Inc. (NASDAQ:FNKO), a company known for its pop culture collectibles, sold a portion of her company stock. The sale, which took place on April 3, 2024, involved 7,500 shares at an average price of $6.08 per share, ranging from $6.04 to $6.12. The total value of the stock sold amounted to approximately $45,567.
Investors following Funko's insider trading activities will note that this sale was conducted under a pre-arranged 10b5-1 trading plan. Such plans allow company insiders to sell shares at predetermined times to avoid concerns about transactions based on non-public information. Daw's plan was adopted on September 13, 2023, which aligns with regulatory guidelines.
Following the transaction, Daw still holds a significant number of shares in the company, with her ownership standing at 58,670 shares of Class A common stock. It is important to note that this figure does not include any common units that Daw may beneficially own.
The sale by Daw may be of interest to investors and market watchers as insider transactions are often scrutinized for insights into a company's health and the confidence level of its executives. However, with pre-arranged trading plans like the one Daw used, these sales are planned well in advance and may not necessarily reflect immediate sentiment about the company's prospects.
Funko, Inc., headquartered in Everett, Washington, operates within the toys and games sector, and its stock is publicly traded under the ticker FNKO on NASDAQ.
InvestingPro Insights
Funko, Inc. (NASDAQ:FNKO) has been navigating through a challenging period, as evidenced by recent financial metrics. The company's market capitalization currently stands at $308.33 million, reflecting investor sentiment and market conditions. Notably, Funko's Price to Earnings (P/E) ratio is at -1.82, with an adjusted P/E ratio for the last twelve months as of Q4 2023 at -2.18, indicating that the company has not been profitable over this period. This aligns with the InvestingPro Tip that analysts do not expect Funko to be profitable this year.
The company's stock price has seen a significant decline over the past three months, with a 20.95% drop, which is consistent with the InvestingPro Tip highlighting the stock's recent fall. This could be a factor for investors to consider, especially in light of the recent insider sale by Tracy D. Daw. Additionally, the Relative Strength Index (RSI) suggests that Funko's stock is currently in oversold territory, which might attract bargain hunters or investors looking for a potential rebound.
Revenue figures from the last twelve months as of Q4 2023 show a decline of 17.13%, with a quarterly revenue growth decrease of 12.55%. This could be indicative of challenges the company is facing in the market. Moreover, Funko does not pay a dividend to shareholders, which may influence investment decisions for those seeking income-generating stocks.
For investors seeking more depth and additional insights, there are 6 more InvestingPro Tips available for Funko, Inc. These can be accessed through InvestingPro's platform, which provides a comprehensive analysis to aid in making informed decisions. Interested readers can take advantage of an exclusive offer using the coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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