WEBTOON Entertainment Inc.’s (NASDAQ:WBTN) Lock-Up Period Set To End on December 24th

WEBTOON Entertainment’s (NASDAQ:WBTN) lock-up period will end on Tuesday, December 24th. WEBTOON Entertainment had issued 15,000,000 shares in its initial public offering on June 27th. The total size of the offering was $315,000,000 based on an initial share price of $21.00. After the expiration of WEBTOON Entertainment’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on WBTN shares. HSBC started coverage on shares of WEBTOON Entertainment in a report on Wednesday, September 4th. They set a “buy” rating and a $23.00 price target for the company. Deutsche Bank Aktiengesellschaft decreased their price target on shares of WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $26.83.

WEBTOON Entertainment Price Performance

NASDAQ WBTN opened at $12.83 on Tuesday. The company has a 50-day moving average of $11.62. WEBTOON Entertainment has a twelve month low of $10.05 and a twelve month high of $25.66.

Institutional Investors Weigh In On WEBTOON Entertainment

Hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets bought a new stake in shares of WEBTOON Entertainment in the third quarter valued at about $45,000. MetLife Investment Management LLC bought a new stake in shares of WEBTOON Entertainment in the third quarter valued at about $107,000. Sandia Investment Management LP acquired a new position in WEBTOON Entertainment in the second quarter worth about $114,000. Verition Fund Management LLC acquired a new position in WEBTOON Entertainment in the third quarter worth about $261,000. Finally, WINTON GROUP Ltd acquired a new position in WEBTOON Entertainment in the second quarter worth about $413,000.

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.