Nykredit A S Takes $28.09 Million Position in Baidu, Inc. $BIDU

Nykredit A S acquired a new stake in shares of Baidu, Inc. (NASDAQ:BIDU) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 245,766 shares of the information services provider’s stock, valued at approximately $28,089,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Signature Equity Partners LLC acquired a new stake in Baidu during the first quarter valued at approximately $25,000. Binnacle Investments Inc bought a new stake in Baidu during the second quarter worth approximately $29,000. Sankala Group LLC acquired a new position in Baidu in the fourth quarter worth approximately $46,000. Brown Brothers Harriman & Co. grew its position in Baidu by 35.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 405 shares of the information services provider’s stock worth $53,000 after buying an additional 105 shares during the last quarter. Finally, UMB Bank n.a. grew its position in Baidu by 25.9% in the fourth quarter. UMB Bank n.a. now owns 428 shares of the information services provider’s stock worth $56,000 after buying an additional 88 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages have recently commented on BIDU. Susquehanna cut their price objective on Baidu from $140.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday, August 28th. Zacks Research cut Baidu from a “hold” rating to a “strong sell” rating in a report on Monday, July 20th. Barclays cut their target price on Baidu from $124.00 to $96.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 19th. Morgan Stanley downgraded Baidu from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $130.00 to $80.00 in a report on Wednesday, August 19th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Baidu in a research report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $154.89.

Baidu Stock Up 1.3%

Shares of NASDAQ:BIDU opened at $95.58 on Friday. The firm has a 50 day simple moving average of $105.84 and a 200 day simple moving average of $117.37. Baidu, Inc. has a 52 week low of $89.60 and a 52 week high of $165.30. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.33 and a current ratio of 2.33. The company has a market cap of $32.52 billion, a PE ratio of -45.30, a price-to-earnings-growth ratio of 4.16 and a beta of 0.57.

Baidu Profile

Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China’s leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.

Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.