WEBTOON Entertainment Inc. (NASDAQ:WBTN) Insider Buys $99,277.56 in Stock

WEBTOON Entertainment Inc. (NASDAQ:WBTN) insider Junkoo Kim bought 11,372 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were acquired at an average cost of $8.73 per share, for a total transaction of $99,277.56. Following the completion of the acquisition, the insider now directly owns 498,812 shares in the company, valued at $4,354,628.76. The trade was a 2.33 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

WEBTOON Entertainment Stock Performance

WBTN opened at $8.73 on Monday. The stock has a fifty day moving average of $10.93 and a 200-day moving average of $11.54. The company has a market capitalization of $1.12 billion and a P/E ratio of 18.98. WEBTOON Entertainment Inc. has a fifty-two week low of $8.32 and a fifty-two week high of $25.66.

WEBTOON Entertainment (NASDAQ:WBTN) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.06). The business had revenue of $352.85 million for the quarter, compared to analyst estimates of $351.00 million. On average, equities research analysts predict that WEBTOON Entertainment Inc. will post -0.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On WEBTOON Entertainment

Several institutional investors have recently made changes to their positions in WBTN. FMR LLC raised its holdings in WEBTOON Entertainment by 30.9% in the 4th quarter. FMR LLC now owns 8,034,524 shares of the company’s stock valued at $109,109,000 after acquiring an additional 1,897,659 shares in the last quarter. Norges Bank acquired a new position in WEBTOON Entertainment in the fourth quarter valued at about $11,862,000. Barclays PLC raised its stake in WEBTOON Entertainment by 1,404.1% in the third quarter. Barclays PLC now owns 523,589 shares of the company’s stock valued at $5,990,000 after purchasing an additional 488,779 shares in the last quarter. Geode Capital Management LLC lifted its position in WEBTOON Entertainment by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 414,886 shares of the company’s stock worth $5,635,000 after purchasing an additional 2,755 shares during the period. Finally, Ameriprise Financial Inc. acquired a new stake in WEBTOON Entertainment during the fourth quarter worth about $5,033,000.

Analysts Set New Price Targets

A number of equities analysts have commented on WBTN shares. The Goldman Sachs Group reduced their price objective on shares of WEBTOON Entertainment from $25.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. JPMorgan Chase & Co. reduced their target price on shares of WEBTOON Entertainment from $12.00 to $10.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Finally, Morgan Stanley lowered their price target on shares of WEBTOON Entertainment from $16.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $17.33.

WEBTOON Entertainment Company Profile

WEBTOON Entertainment Inc operates a storytelling platform worldwide. The company’s platform allows a community of creators and users to discover, create, and share new content. Its platform offers stories primarily in two ways, including web-comics, a graphical comic-like medium; and web-novels, which are text-based stories.