WEBTOON Entertainment Inc.’s Lock-Up Period Set To End on December 24th (NASDAQ:WBTN)

WEBTOON Entertainment’s (NASDAQ:WBTN) lock-up period will end on Tuesday, December 24th. WEBTOON Entertainment had issued 15,000,000 shares in its IPO on June 27th. The total size of the offering was $315,000,000 based on an initial share price of $21.00. After the end of WEBTOON Entertainment’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Analysts Set New Price Targets

WBTN has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. HSBC assumed coverage on WEBTOON Entertainment in a research report on Wednesday, September 4th. They issued a “buy” rating and a $23.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $26.83.

WEBTOON Entertainment Price Performance

NASDAQ:WBTN opened at $13.05 on Friday. The firm’s 50-day simple moving average is $11.79. WEBTOON Entertainment has a twelve month low of $10.05 and a twelve month high of $25.66.

Institutional Trading of WEBTOON Entertainment

Large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets bought a new position in shares of WEBTOON Entertainment in the third quarter valued at $45,000. Sandia Investment Management LP acquired a new position in shares of WEBTOON Entertainment in the 2nd quarter worth $114,000. MetLife Investment Management LLC acquired a new stake in shares of WEBTOON Entertainment during the third quarter worth $107,000. WINTON GROUP Ltd purchased a new stake in shares of WEBTOON Entertainment during the second quarter valued at $413,000. Finally, Verition Fund Management LLC purchased a new stake in shares of WEBTOON Entertainment during the third quarter valued at $261,000.

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.