Harvest Fund Management Co. Ltd Sells 2,086 Shares of Bilibili Inc. (NASDAQ:BILI)

Harvest Fund Management Co. Ltd lessened its holdings in Bilibili Inc. (NASDAQ:BILI) by 0.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 286,563 shares of the company’s stock after selling 2,086 shares during the quarter. Harvest Fund Management Co. Ltd owned 0.07% of Bilibili worth $3,487,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in Bilibili in the 3rd quarter valued at $3,043,000. SG Americas Securities LLC grew its stake in shares of Bilibili by 102.0% during the 4th quarter. SG Americas Securities LLC now owns 80,257 shares of the company’s stock worth $977,000 after acquiring an additional 40,523 shares during the period. XY Capital Ltd bought a new position in shares of Bilibili during the 3rd quarter worth $1,488,000. Artisan Partners Limited Partnership grew its stake in shares of Bilibili by 3.9% during the 3rd quarter. Artisan Partners Limited Partnership now owns 3,790,190 shares of the company’s stock worth $52,191,000 after acquiring an additional 143,881 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Bilibili by 30.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 687,069 shares of the company’s stock worth $9,461,000 after acquiring an additional 161,396 shares during the period. Institutional investors own 16.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on BILI shares. Citigroup downgraded Bilibili from a “buy” rating to a “neutral” rating and cut their price target for the stock from $18.00 to $12.50 in a research note on Monday, March 11th. JPMorgan Chase & Co. upgraded Bilibili from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $10.00 to $11.00 in a research note on Monday, March 11th. Mizuho cut their price target on Bilibili from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Wednesday, January 17th. Finally, Daiwa Capital Markets downgraded Bilibili from a “buy” rating to a “neutral” rating in a research note on Friday, January 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $15.26.

Bilibili Stock Performance

NASDAQ BILI traded down $0.25 during trading hours on Tuesday, hitting $11.49. The company had a trading volume of 16,499,291 shares, compared to its average volume of 7,058,514. The firm has a 50 day simple moving average of $11.03 and a 200 day simple moving average of $11.67. Bilibili Inc. has a 52 week low of $8.80 and a 52 week high of $20.60. The firm has a market capitalization of $4.74 billion, a price-to-earnings ratio of -7.01 and a beta of 0.99.

Bilibili (NASDAQ:BILI) last released its quarterly earnings results on Thursday, March 7th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.03). Bilibili had a negative net margin of 21.34% and a negative return on equity of 28.12%. The business had revenue of $881.13 million during the quarter, compared to analysts’ expectations of $891.61 million. On average, research analysts forecast that Bilibili Inc. will post -0.54 earnings per share for the current year.

About Bilibili

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.