New York State Common Retirement Fund Buys Shares of 4,400 WEBTOON Entertainment Inc. (NASDAQ:WBTN)

New York State Common Retirement Fund bought a new stake in shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 4,400 shares of the company’s stock, valued at approximately $60,000.

Other large investors have also recently bought and sold shares of the company. FMR LLC lifted its stake in shares of WEBTOON Entertainment by 45.0% during 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 during the period. Barclays PLC lifted its stake in shares of WEBTOON Entertainment by 1,404.1% during the 3rd quarter. Barclays PLC now owns 523,589 shares of the company’s stock worth $5,990,000 after purchasing an additional 488,779 shares during the period. Geode Capital Management LLC lifted its stake in shares of WEBTOON Entertainment by 290.1% during the 3rd quarter. Geode Capital Management LLC now owns 412,131 shares of the company’s stock worth $4,716,000 after purchasing an additional 306,496 shares during the period. Potrero Capital Research LLC purchased a new position in shares of WEBTOON Entertainment during the 3rd quarter worth $4,176,000. Finally, State Street Corp purchased a new position in shares of WEBTOON Entertainment during the 3rd quarter worth $1,560,000.

WEBTOON Entertainment Trading Down 1.5 %

Shares of WBTN opened at $9.21 on Friday. The firm has a market capitalization of $1.18 billion and a P/E ratio of 20.02. The stock’s fifty day simple moving average is $11.98 and its 200 day simple moving average is $11.91. WEBTOON Entertainment Inc. has a twelve month low of $8.68 and a twelve month high of $25.66.

WEBTOON Entertainment (NASDAQ:WBTN) last issued its earnings results on Tuesday, February 25th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.06). The company had revenue of $352.85 million during the quarter, compared to analyst estimates of $351.00 million. Sell-side analysts predict that WEBTOON Entertainment Inc. will post -0.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on WBTN. JPMorgan Chase & Co. reduced their price target on WEBTOON Entertainment from $12.00 to $10.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. The Goldman Sachs Group reduced their price target on WEBTOON Entertainment from $25.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Finally, Morgan Stanley reduced their price target 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. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, WEBTOON Entertainment currently has an average rating of “Moderate Buy” and a consensus target price of $17.33.

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.