Insider Buying: WEBTOON Entertainment Inc. (NASDAQ:WBTN) Insider Buys 11,372 Shares of Stock

WEBTOON Entertainment Inc. (NASDAQ:WBTN) insider Junkoo Kim bought 11,372 shares of the firm’s 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

WEBTOON Entertainment Price Performance

Shares of WBTN traded up $0.07 on Friday, hitting $8.73. The company’s stock had a trading volume of 747,159 shares, compared to its average volume of 440,641. The company has a market capitalization of $1.12 billion and a PE ratio of 18.98. WEBTOON Entertainment Inc. has a fifty-two week low of $8.32 and a fifty-two week high of $25.66. The company has a 50 day moving average price of $11.02 and a 200 day moving average price of $11.59.

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 firm had revenue of $352.85 million during the quarter, compared to analyst estimates of $351.00 million. On average, equities analysts forecast that WEBTOON Entertainment Inc. will post -0.26 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets bought a new position in WEBTOON Entertainment in the 3rd quarter worth approximately $45,000. Deutsche Bank AG bought a new stake in shares of WEBTOON Entertainment during the 4th quarter valued at $54,000. New York State Common Retirement Fund bought a new stake in shares of WEBTOON Entertainment during the 4th quarter valued at $60,000. JPMorgan Chase & Co. bought a new stake in shares of WEBTOON Entertainment during the 3rd quarter valued at $75,000. Finally, Wells Fargo & Company MN raised its position in shares of WEBTOON Entertainment by 37.8% during the 4th quarter. Wells Fargo & Company MN now owns 8,168 shares of the company’s stock valued at $111,000 after acquiring an additional 2,240 shares during the last quarter.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on WBTN shares. The Goldman Sachs Group decreased 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. JPMorgan Chase & Co. decreased their price objective on WEBTOON Entertainment from $12.00 to $10.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Finally, Morgan Stanley decreased their price objective on WEBTOON Entertainment from $16.00 to $13.00 and set an “equal weight” rating on the stock 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 stock has an average rating of “Moderate Buy” and an average target price of $17.33.

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.