Envestnet Asset Management Inc. Reduces Stock Position in Bilibili Inc. (NASDAQ:BILI)

Envestnet Asset Management Inc. reduced its holdings in shares of Bilibili Inc. (NASDAQ:BILI) by 16.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,566 shares of the company’s stock after selling 9,415 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Bilibili were worth $898,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership raised its holdings in Bilibili by 3,328.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 608,514 shares of the company’s stock valued at $11,020,000 after acquiring an additional 590,763 shares in the last quarter. Jennison Associates LLC increased its position in shares of Bilibili by 26.4% in the 4th quarter. Jennison Associates LLC now owns 2,285,264 shares of the company’s stock worth $41,386,000 after purchasing an additional 477,740 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Bilibili by 16.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,504,143 shares of the company’s stock valued at $27,240,000 after purchasing an additional 209,963 shares in the last quarter. Prescott Group Capital Management L.L.C. bought a new position in shares of Bilibili during the fourth quarter worth about $2,716,000. Finally, Trexquant Investment LP grew its stake in Bilibili by 9.3% in the fourth quarter. Trexquant Investment LP now owns 754,875 shares of the company’s stock worth $13,671,000 after purchasing an additional 63,960 shares in the last quarter. 16.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on BILI. Benchmark upped their price objective on Bilibili from $24.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Barclays upped their price target on Bilibili from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Finally, Nomura Securities downgraded shares of Bilibili from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 25th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Bilibili presently has a consensus rating of “Moderate Buy” and an average target price of $21.11.

Bilibili Price Performance

Shares of BILI opened at $17.56 on Friday. Bilibili Inc. has a 12 month low of $12.72 and a 12 month high of $31.77. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.34 and a quick ratio of 1.05. The stock has a fifty day moving average price of $18.89 and a 200 day moving average price of $19.14. The company has a market cap of $7.31 billion, a P/E ratio of -39.02 and a beta of 0.95.

Bilibili (NASDAQ:BILI) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.03 by $0.02. Bilibili had a negative net margin of 5.01% and a negative return on equity of 8.23%. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.05 billion. On average, research analysts forecast that Bilibili Inc. will post 0.16 earnings per share for the current year.

Bilibili Company Profile

Bilibili Inc provides online entertainment services for the young generations in the People's Republic of China. It offers a range of digital content, including professional user generated videos, mobile games, and value-added services, such as live broadcasting, occupationally generated videos, audio drama on Maoer, and comics on Bilibili Comic.