Charles Schwab Investment Management Inc. Acquires 13,747 Shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN)

Charles Schwab Investment Management Inc. lifted its position in shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN) by 11.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 131,189 shares of the company’s stock after acquiring an additional 13,747 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.10% of WEBTOON Entertainment worth $1,782,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of WBTN. FMR LLC boosted its holdings in WEBTOON Entertainment by 45.0% during the third quarter. FMR LLC now owns 6,136,865 shares of the company’s stock worth $70,206,000 after buying an additional 1,905,231 shares during the last quarter. Barclays PLC boosted its position in 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 acquiring an additional 488,779 shares during the last quarter. Geode Capital Management LLC grew its position in WEBTOON Entertainment by 290.1% in the third quarter. Geode Capital Management LLC now owns 412,131 shares of the company’s stock valued at $4,716,000 after purchasing an additional 306,496 shares in the last quarter. Potrero Capital Research LLC acquired a new stake in shares of WEBTOON Entertainment in the third quarter valued at about $4,176,000. Finally, State Street Corp bought a new stake in shares of WEBTOON Entertainment during the 3rd quarter worth approximately $1,560,000.

Insiders Place Their Bets

In other WEBTOON Entertainment news, insider Junkoo Kim bought 11,372 shares of the stock in a transaction on Wednesday, March 19th. The stock was acquired at an average cost of $8.73 per share, for a total transaction of $99,277.56. Following the completion of the acquisition, the insider now owns 498,812 shares in the company, valued at $4,354,628.76. This trade represents a 2.33 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link.

WEBTOON Entertainment Stock Performance

Shares of WBTN opened at $8.04 on Friday. The stock has a market capitalization of $1.04 billion and a price-to-earnings ratio of 17.48. WEBTOON Entertainment Inc. has a 52 week low of $8.03 and a 52 week high of $25.66. The stock has a fifty day moving average of $10.50 and a 200-day moving average of $11.44.

WEBTOON Entertainment (NASDAQ:WBTN) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.06). The business had revenue of $352.85 million for the quarter, compared to analysts’ expectations of $351.00 million. As a group, equities analysts forecast that WEBTOON Entertainment Inc. will post -0.26 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on the company. The Goldman Sachs Group reduced their target price on WEBTOON Entertainment from $25.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. JPMorgan Chase & Co. cut their price target on WEBTOON Entertainment from $12.00 to $10.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Finally, Morgan Stanley decreased their target price on shares of 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 research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, WEBTOON Entertainment currently has an average rating of “Moderate Buy” and a consensus 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.