The Goldman Sachs Group Increases Funko (NASDAQ:FNKO) Price Target to $6.50

Funko (NASDAQ:FNKO) had its price objective lifted by investment analysts at The Goldman Sachs Group from $5.00 to $6.50 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “sell” rating on the stock. The Goldman Sachs Group’s price objective points to a potential downside of 17.20% from the company’s current price.

FNKO has been the topic of a number of other reports. DA Davidson upped their price objective on Funko from $9.50 to $10.50 and gave the company a “buy” rating in a research report on Friday, November 3rd. TheStreet downgraded Funko from a “c-” rating to a “d+” rating in a research report on Friday, August 11th. Bank of America decreased their price objective on Funko from $13.00 to $10.50 in a research report on Monday, August 7th. JPMorgan Chase & Co. decreased their price objective on Funko from $9.50 to $8.00 and set a “neutral” rating on the stock in a research report on Monday, August 7th. Finally, Stifel Nicolaus reduced their price target on Funko from $9.00 to $8.00 in a report on Monday, August 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Funko currently has an average rating of “Hold” and a consensus price target of $9.42.

Funko Stock Performance

Shares of FNKO stock opened at $7.85 on Monday. Funko has a 1 year low of $5.27 and a 1 year high of $13.42. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 0.53. The stock’s 50 day simple moving average is $7.45 and its two-hundred day simple moving average is $8.92. The company has a market cap of $406.63 million, a PE ratio of -2.30 and a beta of 1.28.

Insiders Place Their Bets

In other news, major shareholder Working Capital Advisors (Uk) acquired 256,561 shares of Funko stock in a transaction on Wednesday, August 16th. The shares were bought at an average cost of $5.34 per share, for a total transaction of $1,370,035.74. Following the acquisition, the insider now directly owns 5,818,412 shares of the company’s stock, valued at approximately $31,070,320.08. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Steve Nave bought 55,500 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were acquired at an average price of $5.45 per share, with a total value of $302,475.00. Following the transaction, the chief financial officer now owns 55,500 shares of the company’s stock, valued at $302,475. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Working Capital Advisors (Uk) bought 256,561 shares of the company’s stock in a transaction on Wednesday, August 16th. The shares were bought at an average cost of $5.34 per share, for a total transaction of $1,370,035.74. Following the transaction, the insider now directly owns 5,818,412 shares in the company, valued at approximately $31,070,320.08. The disclosure for this purchase can be found here. Insiders have bought 760,428 shares of company stock worth $4,641,240 in the last ninety days. 11.48% of the stock is owned by company insiders.

Institutional Trading of Funko

Several hedge funds and other institutional investors have recently bought and sold shares of FNKO. Strs Ohio bought a new stake in Funko during the 3rd quarter valued at $25,000. Sunbelt Securities Inc. bought a new stake in Funko during the 2nd quarter valued at $28,000. Lazard Asset Management LLC boosted its position in Funko by 221.3% during the 1st quarter. Lazard Asset Management LLC now owns 4,154 shares of the company’s stock valued at $71,000 after acquiring an additional 2,861 shares in the last quarter. Barclays PLC boosted its position in shares of Funko by 533.3% in the 4th quarter. Barclays PLC now owns 8,549 shares of the company’s stock worth $93,000 after purchasing an additional 7,199 shares in the last quarter. Finally, Arizona State Retirement System acquired a new stake in shares of Funko in the 1st quarter worth $97,000. Institutional investors own 89.88% of the company’s stock.

Funko Company Profile

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; fashion accessories, including handbags, backpacks, wallets, clothing, and other accessories; and figures, apparel, board games, accessories, plush products, homewares, vinyl records and art prints, posters, and digital non-fungible tokens, as well as creates soundtracks, toys, books, games, and other collectibles.