Pictet Asset Management SA Cuts Holdings in Bilibili Inc. (NASDAQ:BILI)

Posted by on Mar 1st, 2023

Pictet Asset Management SA decreased its position in shares of Bilibili Inc. (NASDAQ:BILI – Get Rating) by 91.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,501 shares of the company’s stock after selling 239,034 shares during the period. Pictet Asset Management SA’s holdings in Bilibili were worth $345,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. WT Asset Management Ltd purchased a new position in Bilibili in the second quarter worth about $5,670,000. Artisan Partners Limited Partnership grew its position in Bilibili by 28.0% in the third quarter. Artisan Partners Limited Partnership now owns 4,690,822 shares of the company’s stock worth $71,863,000 after acquiring an additional 1,027,218 shares in the last quarter. TB Alternative Assets Ltd. grew its position in Bilibili by 196.5% in the third quarter. TB Alternative Assets Ltd. now owns 752,300 shares of the company’s stock worth $11,525,000 after acquiring an additional 498,600 shares in the last quarter. FMR LLC grew its position in Bilibili by 2.1% in the second quarter. FMR LLC now owns 19,888,043 shares of the company’s stock worth $509,134,000 after acquiring an additional 405,620 shares in the last quarter. Finally, Bridgewater Associates LP grew its position in Bilibili by 48.6% in the first quarter. Bridgewater Associates LP now owns 1,099,588 shares of the company’s stock worth $28,127,000 after acquiring an additional 359,842 shares in the last quarter. Hedge funds and other institutional investors own 20.27% of the company’s stock.

Bilibili Price Performance

NASDAQ BILI opened at $19.30 on Wednesday. The firm’s fifty day simple moving average is $24.55 and its two-hundred day simple moving average is $19.77. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.74. Bilibili Inc. has a 12-month low of $8.23 and a 12-month high of $35.00.

Bilibili (NASDAQ:BILI – Get Rating) last released its quarterly earnings results on Tuesday, November 29th. The company reported ($0.72) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.77) by $0.05. Bilibili had a negative net margin of 37.78% and a negative return on equity of 43.42%. The business had revenue of $814.46 million for the quarter, compared to analyst estimates of $823.72 million. On average, sell-side analysts expect that Bilibili Inc. will post -2.88 EPS for the current year.

Wall Street Analysts Forecast Growth

BILI has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Bilibili from $20.00 to $30.00 in a research note on Wednesday, December 7th. Barclays lifted their price target on shares of Bilibili from $13.00 to $16.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 30th. The Goldman Sachs Group lifted their price target on shares of Bilibili from $22.20 to $25.30 and gave the company a “neutral” rating in a research note on Monday, January 9th. Bank of America lifted their price target on shares of Bilibili from $11.50 to $13.50 in a research note on Friday, November 25th. Finally, Sanford C. Bernstein raised shares of Bilibili from an “underperform” rating to a “market perform” rating in a research note on Tuesday, December 13th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Bilibili currently has a consensus rating of “Hold” and a consensus price target of $21.33.

Bilibili Profile

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Bilibili, Inc is a holding company, which represents the iconic brand of online entertainment for young generations in China. It offers a wide array of content serving young generations’ diverse interests. The firm enables broad video-based content consumption scenarios centered around professional user generated videos (PUGV) supplemented with live broadcasting, occupationally generated videos, or occupationally generated videos (OGV), and more.

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Institutional Ownership by Quarter for Bilibili (NASDAQ:BILI)

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