Potrero Capital Research LLC Buys New Position in WEBTOON Entertainment Inc. (NASDAQ:WBTN)

Potrero Capital Research LLC purchased a new position in WEBTOON Entertainment Inc. (NASDAQ:WBTN) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 365,043 shares of the company’s stock, valued at approximately $4,176,000. WEBTOON Entertainment accounts for 1.3% of Potrero Capital Research LLC’s portfolio, making the stock its 23rd biggest holding. Potrero Capital Research LLC owned about 0.28% of WEBTOON Entertainment at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. FMR LLC boosted its stake in shares of WEBTOON Entertainment by 45.0% in the third quarter. FMR LLC now owns 6,136,865 shares of the company’s stock valued at $70,206,000 after purchasing an additional 1,905,231 shares during the period. Federated Hermes Inc. purchased a new position in WEBTOON Entertainment in the 2nd quarter valued at about $32,145,000. Millennium Management LLC acquired a new stake in shares of WEBTOON Entertainment during the second quarter valued at about $18,346,000. Hood River Capital Management LLC acquired a new stake in shares of WEBTOON Entertainment during the second quarter valued at about $10,352,000. Finally, Charles Schwab Investment Management Inc. purchased a new stake in shares of WEBTOON Entertainment during the third quarter worth about $1,344,000.

WEBTOON Entertainment Stock Down 1.0 %

NASDAQ WBTN opened at $12.49 on Wednesday. WEBTOON Entertainment Inc. has a one year low of $10.05 and a one year high of $25.66. The firm has a 50-day simple moving average of $11.35.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on WBTN. The Goldman Sachs Group lowered their price objective on WEBTOON Entertainment from $62.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, August 12th. HSBC started coverage on shares of WEBTOON Entertainment in a research note on Wednesday, September 4th. They issued a “buy” rating and a $23.00 price target for the company. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Morgan Stanley dropped their target price on shares of WEBTOON Entertainment from $23.00 to $17.00 and set an “equal weight” rating for the company in a research report on Friday, August 16th. Finally, Evercore ISI reduced their price target on shares of WEBTOON Entertainment from $30.00 to $27.00 and set an “outperform” rating on the stock in a research report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $26.83.

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.