Step Capital Management Pte. Ltd. Invests $24.59 Million in Bilibili Inc. Sponsored ADR $BILI

Step Capital Management Pte. Ltd. purchased a new stake in shares of Bilibili Inc. Sponsored ADR (NASDAQ:BILI) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 1,000,000 shares of the company’s stock, valued at approximately $24,590,000. Bilibili comprises approximately 11.3% of Step Capital Management Pte. Ltd.’s portfolio, making the stock its 4th biggest holding.

Other large investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in Bilibili by 1.2% during the first quarter. Royal Bank of Canada now owns 87,505 shares of the company’s stock valued at $1,672,000 after purchasing an additional 1,014 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Bilibili by 0.7% in the 2nd quarter. Geode Capital Management LLC now owns 103,666 shares of the company’s stock worth $2,224,000 after buying an additional 713 shares during the last quarter. Cetera Investment Advisers bought a new position in shares of Bilibili in the 2nd quarter worth about $398,000. JPMorgan Chase & Co. boosted its holdings in shares of Bilibili by 25.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,295 shares of the company’s stock valued at $114,000 after buying an additional 1,081 shares during the period. Finally, Hsbc Holdings PLC boosted its holdings in shares of Bilibili by 164.4% in the 2nd quarter. Hsbc Holdings PLC now owns 73,639 shares of the company’s stock valued at $1,574,000 after buying an additional 45,784 shares during the period. 16.08% of the stock is currently owned by institutional investors.

Bilibili Price Performance

Bilibili stock opened at $23.05 on Monday. The company has a 50-day simple moving average of $28.01 and a 200-day simple moving average of $27.67. The firm has a market capitalization of $9.56 billion, a P/E ratio of 60.66 and a beta of 0.87. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.64 and a current ratio of 1.36. Bilibili Inc. Sponsored ADR has a one year low of $14.47 and a one year high of $36.40.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BILI. Wall Street Zen lowered shares of Bilibili from a “buy” rating to a “hold” rating in a research note on Monday, March 9th. JPMorgan Chase & Co. upgraded Bilibili from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $27.00 to $35.00 in a research note on Tuesday, March 17th. Citigroup raised Bilibili from a “neutral” rating to a “buy” rating and set a $27.00 target price for the company in a report on Friday, March 27th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Bilibili in a research report on Wednesday, January 21st. Eight analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $30.50.

About Bilibili

Bilibili (NASDAQ: BILI) is a leading Chinese online entertainment platform renowned for its focus on animation, comics and games (ACG) content. The company operates a video-sharing website where users can view, upload and comment on a wide range of content, from full-length anime episodes to user-generated short videos. In addition to on-demand streaming, Bilibili offers live broadcasting services that connect creators with fans through real-time interaction features such as “bullet comments” that flow across the screen.

Beyond its core video community, Bilibili generates revenue through multiple value-added services.