JPMorgan Chase & Co. Makes New $75,000 Investment in WEBTOON Entertainment Inc. (NASDAQ:WBTN)

JPMorgan Chase & Co. purchased a new stake in shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 6,576 shares of the company’s stock, valued at approximately $75,000.

A number of other hedge funds also recently added to or reduced their stakes in WBTN. FMR LLC increased its holdings in shares of WEBTOON Entertainment by 45.0% in the 3rd quarter. FMR LLC now owns 6,136,865 shares of the company’s stock worth $70,206,000 after purchasing an additional 1,905,231 shares in the last quarter. Barclays PLC raised its position in WEBTOON Entertainment by 1,404.1% in the 3rd quarter. Barclays PLC now owns 523,589 shares of the company’s stock worth $5,990,000 after buying an additional 488,779 shares during the last quarter. Geode Capital Management LLC lifted its stake in WEBTOON Entertainment by 290.1% during the 3rd quarter. Geode Capital Management LLC now owns 412,131 shares of the company’s stock valued at $4,716,000 after acquiring an additional 306,496 shares during the period. Potrero Capital Research LLC purchased a new stake in shares of WEBTOON Entertainment during the 3rd quarter valued at about $4,176,000. Finally, State Street Corp bought a new stake in shares of WEBTOON Entertainment in the third quarter worth approximately $1,560,000.

WEBTOON Entertainment Stock Up 1.3 %

Shares of WEBTOON Entertainment stock opened at $12.92 on Tuesday. The company has a fifty day moving average of $13.01 and a 200 day moving average of $13.16. WEBTOON Entertainment Inc. has a fifty-two week low of $10.05 and a fifty-two week high of $25.66.

WEBTOON Entertainment (NASDAQ:WBTN) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.70. The company had revenue of $347.92 million for the quarter, compared to analysts’ expectations of $336.43 million. On average, analysts anticipate that WEBTOON Entertainment Inc. will post -0.26 earnings per share for the current year.

Wall Street Analyst Weigh In

WBTN has been the topic of several research reports. The Goldman Sachs Group dropped their target price on shares of WEBTOON Entertainment from $48.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, January 27th. Morgan Stanley cut their price objective on WEBTOON Entertainment from $17.50 to $16.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, WEBTOON Entertainment presently has an average rating of “Moderate Buy” and an average target price of $21.67.

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.