Jennison Associates LLC Boosts Holdings in Bilibili Inc. (NASDAQ:BILI)

Jennison Associates LLC raised its stake in shares of Bilibili Inc. (NASDAQ:BILI) by 208.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,807,524 shares of the company’s stock after buying an additional 1,221,433 shares during the quarter. Jennison Associates LLC owned about 0.44% of Bilibili worth $42,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. First Beijing Investment Ltd boosted its position in shares of Bilibili by 96.2% during the third quarter. First Beijing Investment Ltd now owns 3,793,582 shares of the company’s stock worth $88,694,000 after acquiring an additional 1,860,496 shares during the last quarter. Quarry LP bought a new position in shares of Bilibili during the 2nd quarter valued at about $29,336,000. SIH Partners LLLP grew its position in shares of Bilibili by 145.9% during the second quarter. SIH Partners LLLP now owns 1,195,420 shares of the company’s stock valued at $18,457,000 after purchasing an additional 709,200 shares in the last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of Bilibili by 385.3% in the second quarter. Cubist Systematic Strategies LLC now owns 981,969 shares of the company’s stock worth $15,162,000 after purchasing an additional 779,614 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Bilibili in the second quarter worth about $11,490,000. 16.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on BILI. Mizuho raised their price target on Bilibili from $17.00 to $21.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Barclays raised their target price on shares of Bilibili from $19.00 to $24.00 and gave the company an “overweight” rating in a report on Monday. Benchmark upped their price target on shares of Bilibili from $16.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Sanford C. Bernstein lifted their price objective on shares of Bilibili from $12.00 to $13.00 and gave the stock a “market perform” rating in a research note on Friday, August 23rd. Finally, Bank of America upped their target price on shares of Bilibili from $19.00 to $22.50 and gave the company a “buy” rating in a research report on Friday, October 25th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $19.69.

Bilibili Stock Performance

Shares of BILI opened at $18.88 on Friday. The company has a 50 day moving average price of $20.85 and a 200-day moving average price of $17.12. Bilibili Inc. has a fifty-two week low of $8.80 and a fifty-two week high of $31.77. The stock has a market capitalization of $7.82 billion, a PE ratio of -20.86 and a beta of 0.86.

Bilibili (NASDAQ:BILI) last posted its earnings results on Thursday, November 14th. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.47. Bilibili had a negative return on equity of 15.17% and a negative net margin of 10.73%. The company had revenue of $7.31 billion during the quarter, compared to analyst estimates of $7.14 billion. During the same quarter in the prior year, the business earned ($0.39) earnings per share. Bilibili’s revenue was up 25.8% on a year-over-year basis. Equities research analysts forecast that Bilibili Inc. will post -0.32 EPS 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.