Norges Bank Takes Position in WEBTOON Entertainment Inc. (NASDAQ:WBTN)

Norges Bank bought a new stake in WEBTOON Entertainment Inc. (NASDAQ:WBTN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 873,473 shares of the company's stock, valued at approximately $11,862,000. Norges Bank owned 0.68% of WEBTOON Entertainment as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. BNP Paribas Financial Markets acquired a new position in WEBTOON Entertainment in the third quarter valued at about $45,000. New York State Common Retirement Fund purchased a new position in shares of WEBTOON Entertainment during the 4th quarter worth approximately $60,000. JPMorgan Chase & Co. purchased a new stake in WEBTOON Entertainment in the third quarter valued at approximately $75,000. MetLife Investment Management LLC acquired a new position in WEBTOON Entertainment during the third quarter worth $107,000. Finally, American Century Companies Inc. purchased a new position in shares of WEBTOON Entertainment during the fourth quarter worth $203,000.

Insider Buying and Selling

In other WEBTOON Entertainment news, insider Junkoo Kim bought 11,372 shares of WEBTOON Entertainment stock in a transaction that occurred on Wednesday, March 19th. The shares were purchased at an average cost of $8.73 per share, for a total transaction of $99,277.56. Following the completion of the transaction, the insider now owns 498,812 shares of the company's stock, valued at $4,354,628.76. This represents a 2.33 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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WEBTOON Entertainment Price Performance

Shares of NASDAQ WBTN traded up $0.55 during trading on Friday, hitting $8.09. 287,942 shares of the company were exchanged, compared to its average volume of 441,403. The firm's fifty day moving average price is $9.20 and its 200 day moving average price is $11.17. The company has a market cap of $1.04 billion and a price-to-earnings ratio of 17.59. WEBTOON Entertainment Inc. has a 1 year low of $6.75 and a 1 year high of $25.66.

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on WBTN shares. Morgan Stanley reduced their price objective on WEBTOON Entertainment from $16.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 26th. The Goldman Sachs Group cut their target price on WEBTOON Entertainment from $25.00 to $15.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. decreased 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 note on Tuesday. 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, WEBTOON Entertainment presently has an average rating of "Moderate Buy" and an average price target of $17.17.

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.