WEBTOON Entertainment Inc. (NASDAQ:WBTN) Receives $14.36 Average Price Target from Brokerages

Shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN) have received a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $14.36.

Several equities analysts recently commented on WBTN shares. Morgan Stanley reduced their target price on shares of WEBTOON Entertainment from $13.00 to $10.50 and set an “equal weight” rating on the stock in a report on Thursday, April 17th. Evercore ISI dropped their price target on shares of WEBTOON Entertainment from $23.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, May 14th. The Goldman Sachs Group dropped their target price on shares of WEBTOON Entertainment from $15.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, May 15th. Citigroup began coverage on shares of WEBTOON Entertainment in a research report on Thursday, May 15th. They issued a “buy” rating and a $11.00 target price for the company. Finally, JPMorgan Chase & Co. lowered their price target on shares of WEBTOON Entertainment from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th.

Insider Buying and Selling at WEBTOON Entertainment

In related news, insider Junkoo Kim purchased 11,372 shares of WEBTOON Entertainment stock in a transaction dated Wednesday, March 19th. The stock was purchased at an average cost of $8.73 per share, for a total transaction of $99,277.56. Following the completion of the purchase, the insider now directly owns 498,812 shares of the company’s stock, valued at $4,354,628.76. The trade was a 2.33% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 5.45% of the stock is owned by company insiders.

Institutional Trading of WEBTOON Entertainment

A number of large investors have recently made changes to their positions in the stock. FMR LLC grew its position in WEBTOON Entertainment by 30.9% during the fourth quarter. FMR LLC now owns 8,034,524 shares of the company’s stock valued at $109,109,000 after buying an additional 1,897,659 shares during the period. Norges Bank purchased a new position in WEBTOON Entertainment during the fourth quarter valued at approximately $11,862,000. Barclays PLC lifted its holdings in WEBTOON Entertainment by 1,404.1% during 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 holdings in WEBTOON Entertainment by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 414,886 shares of the company’s stock valued at $5,635,000 after purchasing an additional 2,755 shares in the last quarter. Finally, Ameriprise Financial Inc. purchased a new position in shares of WEBTOON Entertainment in the fourth quarter worth $5,033,000.

WEBTOON Entertainment Price Performance

Shares of NASDAQ:WBTN opened at $8.89 on Friday. The company’s fifty day moving average price is $8.69 and its 200-day moving average price is $10.50. The firm has a market capitalization of $1.16 billion and a price-to-earnings ratio of -6.17. WEBTOON Entertainment has a one year low of $6.75 and a one year high of $25.66.

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.