WEBTOON Entertainment Inc. (NASDAQ:WBTN) Insider Junkoo Kim Buys 11,372 Shares

WEBTOON Entertainment Inc. (NASDAQ:WBTN) insider Junkoo Kim purchased 11,372 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were bought 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

WEBTOON Entertainment Stock Performance

WBTN stock opened at $8.73 on Monday. The company has a market capitalization of $1.12 billion and a P/E ratio of 18.98. The company has a fifty day moving average price of $10.93 and a 200-day moving average price of $11.54. WEBTOON Entertainment Inc. has a 52-week low of $8.32 and a 52-week high of $25.66.

WEBTOON Entertainment (NASDAQ:WBTN) last announced its earnings results on Tuesday, February 25th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.06). The business had revenue of $352.85 million during the quarter, compared to analysts’ expectations of $351.00 million. As a group, sell-side analysts forecast that WEBTOON Entertainment Inc. will post -0.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Trading of WEBTOON Entertainment

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

About WEBTOON Entertainment

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.