WEBTOON Entertainment (NASDAQ:WBTN) Given New $16.00 Price Target at Morgan Stanley

WEBTOON Entertainment (NASDAQ:WBTN) had its price objective lowered by Morgan Stanley from $17.50 to $16.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Separately, Deutsche Bank Aktiengesellschaft dropped their price objective on 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 company. According to MarketBeat.com, WEBTOON Entertainment currently has an average rating of “Moderate Buy” and a consensus target price of $26.67.

WEBTOON Entertainment Stock Down 3.1 %

Shares of NASDAQ:WBTN opened at $12.65 on Monday. The company’s 50-day moving average price is $12.53. WEBTOON Entertainment has a 12 month low of $10.05 and a 12 month high of $25.66.

Institutional Trading of WEBTOON Entertainment

Several large investors have recently bought and sold shares of WBTN. JPMorgan Chase & Co. purchased a new position in shares of WEBTOON Entertainment in the 3rd quarter valued at approximately $75,000. Geode Capital Management LLC raised its holdings in WEBTOON Entertainment by 290.1% in the third 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 in the last quarter. Barclays PLC lifted its position in WEBTOON Entertainment by 1,404.1% during the third quarter. Barclays PLC now owns 523,589 shares of the company’s stock valued at $5,990,000 after buying an additional 488,779 shares during the period. State Street Corp bought a new stake in shares of WEBTOON Entertainment during the 3rd quarter valued at $1,560,000. Finally, Potrero Capital Research LLC purchased a new stake in shares of WEBTOON Entertainment in the 3rd quarter worth about $4,176,000.

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.