FMR LLC increased its holdings in shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN - Free Report) by 45.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,136,865 shares of the company's stock after acquiring an additional 1,905,231 shares during the period. FMR LLC owned about 4.78% of WEBTOON Entertainment worth $70,206,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the business. Sandia Investment Management LP acquired a new position in WEBTOON Entertainment during the 2nd quarter worth $114,000. WINTON GROUP Ltd acquired a new position in WEBTOON Entertainment during the 2nd quarter worth $413,000. Point72 Asset Management L.P. acquired a new position in WEBTOON Entertainment during the 2nd quarter worth $816,000. Squarepoint Ops LLC acquired a new position in shares of WEBTOON Entertainment in the 2nd quarter valued at $1,256,000. Finally, Marshall Wace LLP acquired a new position in shares of WEBTOON Entertainment in the 2nd quarter valued at $1,516,000.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft cut their price target on WEBTOON Entertainment from $18.00 to $16.00 and set a "buy" rating on the stock in a research note on Tuesday, November 5th. HSBC assumed coverage on WEBTOON Entertainment in a research note on Wednesday, September 4th. They issued a "buy" rating and a $23.00 price target on the stock. Evercore ISI cut their price target on WEBTOON Entertainment from $30.00 to $27.00 and set an "outperform" rating on the stock in a research note on Monday, August 12th. The Goldman Sachs Group cut their price target on WEBTOON Entertainment from $62.00 to $55.00 and set a "buy" rating on the stock in a research note on Monday, August 12th. Finally, Morgan Stanley reduced their target price on WEBTOON Entertainment from $23.00 to $17.00 and set an "equal weight" rating on the stock in a report on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $26.83.
Get Our Latest Research Report on WEBTOON Entertainment
WEBTOON Entertainment Trading Up 1.4 %
WBTN stock traded up $0.18 during midday trading on Friday, hitting $12.97. 177,858 shares of the company's stock were exchanged, compared to its average volume of 438,808. The stock's fifty day moving average is $11.43. WEBTOON Entertainment Inc. has a one year low of $10.05 and a one year high of $25.66.
WEBTOON Entertainment Company Profile
(
Free Report)
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.
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