5 NFT Stocks to Buy According to Reddit

4. Funko, Inc. (NASDAQ:FNKO)

Number of Hedge Fund Holders: 18

Funko, Inc. (NASDAQ:FNKO), one of the top NFT stocks to buy according to Reddit, is an American company that creates collectibles, vinyl figures, bobbleheads, action figures, accessories, apparel, plush, and NFTs. Funko, Inc. (NASDAQ:FNKO) is known for producing licensed and limited edition products that are based on pop culture trends. 

Jefferies analyst Stephanie Wissink upgraded Funko, Inc. (NASDAQ:FNKO) to Buy from Hold with a price target of $25, up from $21 on August 31. The analyst was “increasingly confident” in the company’s 10%-plus medium term growth profile and its business trajectory. She also noted that Funko, Inc. (NASDAQ:FNKO)’s business model is “de-risked” by property, category, and geographic concentration. Funko, Inc. (NASDAQ:FNKO)’s third quarter earnings per share and revenue beat analysts’ consensus estimates as well. 

In the third quarter of 2021, 18 hedge funds were bullish on Funko, Inc. (NASDAQ:FNKO), with stakes totaling roughly $160 million, as compared to 19 funds in the prior quarter, holding stakes in Funko, Inc. (NASDAQ:FNKO) worth $177 million. 

The largest stakeholder of Funko, Inc. (NASDAQ:FNKO) is James Woodson Davis’ Woodson Capital Management, with 4.2 million shares valued at $77.6 million.