WEBTOON Entertainment Inc. (NASDAQ:WBTN) Director Acquires $100,010.50 in Stock

WEBTOON Entertainment Inc. (NASDAQ:WBTN - Get Free Report) Director Namsun Kim purchased 7,195 shares of WEBTOON Entertainment stock in a transaction dated Wednesday, August 21st. The shares were purchased at an average price of $13.90 per share, with a total value of $100,010.50. Following the completion of the acquisition, the director now owns 7,195 shares in the company, valued at $100,010.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

WEBTOON Entertainment Trading Up 0.9 %

NASDAQ:WBTN traded up $0.12 during trading hours on Wednesday, hitting $14.02. 727,086 shares of the company traded hands, compared to its average volume of 655,660. WEBTOON Entertainment Inc. has a twelve month low of $11.15 and a twelve month high of $25.66.

WEBTOON Entertainment (NASDAQ:WBTN - Get Free Report) last released its earnings results on Thursday, August 8th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.92. The company had revenue of $320.97 million during the quarter, compared to the consensus estimate of $340.72 million. During the same quarter in the previous year, the business posted ($0.01) EPS. The firm's quarterly revenue was up .1% on a year-over-year basis. On average, equities analysts expect that WEBTOON Entertainment Inc. will post -1.27 EPS for the current fiscal year.

Institutional Trading of WEBTOON Entertainment

Institutional investors have recently modified their holdings of the company. Millennium Management LLC acquired a new position in shares of WEBTOON Entertainment in the second quarter valued at $18,346,000. Marshall Wace LLP acquired a new position in shares of WEBTOON Entertainment in the 2nd quarter valued at $1,516,000. Squarepoint Ops LLC bought a new position in shares of WEBTOON Entertainment during the 2nd quarter worth about $1,256,000. Point72 Asset Management L.P. acquired a new stake in shares of WEBTOON Entertainment during the 2nd quarter valued at about $816,000. Finally, Point72 DIFC Ltd bought a new stake in WEBTOON Entertainment in the second quarter valued at about $1,541,000.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Evercore ISI reduced their target price on shares of WEBTOON Entertainment from $30.00 to $27.00 and set an "outperform" rating for the company in a research note on Monday, August 12th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of WEBTOON Entertainment from $25.00 to $18.00 and set a "buy" rating for the company in a research note on Monday, August 12th. The Goldman Sachs Group lowered their target price on shares of WEBTOON Entertainment from $62.00 to $55.00 and set a "buy" rating on the stock in a research report on Monday, August 12th. Morgan Stanley reduced their price target on WEBTOON Entertainment from $23.00 to $17.00 and set an "equal weight" rating for the company in a research report on Friday, August 16th. Finally, JPMorgan Chase & Co. began coverage on WEBTOON Entertainment in a report on Monday, July 22nd. They set a "neutral" rating and a $23.00 price objective on the stock. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $28.00.

About WEBTOON Entertainment

Our Vision To be the world’s storytelling technology platform empowering creation by anyone, for everyone. WEBTOON is a global storytelling platform where a vibrant community of creators and users discover, create and share new content. We have pioneered a cultural movement by revolutionizing the storytelling format and democratizing content creation and publication.

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