Funko’s Chief Legal Officer Sells $120,000 worth of Shares Via Investing.com

Tracy D. Daw, Chief Legal Officer of Funko, Inc. (NASDAQ: ), a company known for its pop culture collectibles, recently sold 10,000 shares of the company’s Class A common stock. The sale, which took place on September 13, was executed at a price of $12.00 per share, resulting in a total transaction value of $120,000.

The transaction was disclosed in a Form 4 filing with the Securities and Exchange Commission, which was filed on September 17. According to the filing, the shares sold by Daw were part of a prearranged 10b5-1 trading plan. Such plans allow company insiders to establish predetermined trading arrangements for the sale of stock at a future date, providing a defense against potential insider trading charges.

Following the sale, Daw’s direct ownership of Funko’s Class A common stock decreased to 6,362 shares. It is important to note that this figure does not include any common units held by Daw.

Investors often monitor insider sales because they can provide insight into executives’ perspectives on the company’s current valuation and future prospects. However, sales made under 10b5-1 plans are usually less indicative of an insider’s belief about the company’s future and more about personal financial planning.

Funko, Inc., based in Everett, Washington, operates in the toy and game industry, producing a wide range of licensed pop culture collectibles. The company’s products range from vinyl figures to plush toys and are popular among collectors and fans of various entertainment franchises.

Investors and analysts continue to watch insider activity and company performance for signs of growth potential and market value. Funko’s stock performance and future sales by the company’s members will be of particular interest to the investment community as they gauge the company’s trajectory in a competitive industry.

In other recent news, Funko has made significant progress in its business operations. The pop culture consumer products company reported a 3% increase in Q2 net sales to $248 million and a robust adjusted EBITDA of $28 million, beating expectations. Funko maintained its guidance for the full year, expecting net sales to range between $1.047 billion and $1.103 billion and adjusted EBITDA to reach between $65 million and $85 million.

In addition, Funko announced a partnership with the National Football League (NFL), allowing it to offer Pop! Figures in jerseys and hoodies with logos from any of the 32 NFL teams. B.Riley, following this announcement, reaffirmed a buy rating on shares of Funko and lifted their price target on shares of Funko to $15.00, up from their previous price target of $13.00.

In addition, Funko made changes to the compensation agreement for its Chief Commercial Officer, Andrew Oddie, including a monthly relocation stipend and other benefits due to his temporary relocation to the Greater Los Angeles area and additional responsibilities. These recent developments underscore Funko’s commitment to retaining executive talent and supporting their transition as they take on larger roles within the company.

InvestingPro Insights

The recent sale of shares of Funko, Inc. by Tracy D. Daw spotlighted company financials and market performance. According to InvestingPro data, Funko has a market capitalization of approximately $608.98 million. Despite the challenges, the company posted a significant return over the past week with a total price return of 10.52%. Over the past six months, the stock has seen remarkable growth with a total price return of 77.9%, reflecting strong investor sentiment.

InvestingPro Tips indicates that while Funko trades at a high EBITDA valuation multiple, analysts have revised downward earnings for the coming period and do not anticipate the company to be profitable this year. The company’s P/E ratio is -13.01 and has not been profitable for the last twelve months. These factors are crucial for investors considering the implications of insider sales and the company’s market valuation.

For those looking for more in-depth analysis, there are additional InvestingPro Tips available that may provide more insight into the financial health and performance of Funko stock. These tips are part of InvestingPro’s comprehensive resources available for Funko at https://www.investing.com/pro/FNKO.

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