Baidu, Inc. $BIDU Shares Bought by Nordea Investment Management AB

Nordea Investment Management AB grew its position in shares of Baidu, Inc. (NASDAQ:BIDU) by 0.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 313,637 shares of the information services provider’s stock after purchasing an additional 596 shares during the period. Nordea Investment Management AB’s holdings in Baidu were worth $26,863,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Creekmur Asset Management LLC acquired a new stake in shares of Baidu during the 1st quarter worth about $29,000. Assetmark Inc. boosted its stake in shares of Baidu by 143.3% during the 1st quarter. Assetmark Inc. now owns 326 shares of the information services provider’s stock worth $30,000 after purchasing an additional 192 shares during the last quarter. CX Institutional boosted its stake in shares of Baidu by 34.1% during the 2nd quarter. CX Institutional now owns 715 shares of the information services provider’s stock worth $61,000 after purchasing an additional 182 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of Baidu by 17.0% in the second quarter. Parallel Advisors LLC now owns 935 shares of the information services provider’s stock worth $80,000 after acquiring an additional 136 shares during the last quarter. Finally, Silver Oak Securities Incorporated acquired a new stake in shares of Baidu in the first quarter worth approximately $97,000.

Baidu Trading Down 0.7%

NASDAQ BIDU opened at $120.01 on Friday. Baidu, Inc. has a one year low of $74.71 and a one year high of $149.51. The company’s 50 day moving average price is $113.32 and its 200 day moving average price is $95.82. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.85 and a current ratio of 1.85. The firm has a market capitalization of $41.46 billion, a price-to-earnings ratio of 11.06 and a beta of 0.42.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Nomura raised their target price on shares of Baidu from $91.00 to $135.00 and gave the stock a “neutral” rating in a research report on Monday, September 22nd. Macquarie raised shares of Baidu from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $91.00 to $176.00 in a research report on Friday, October 10th. Arete Research raised shares of Baidu from a “sell” rating to a “buy” rating and set a $143.00 target price on the stock in a research report on Tuesday, September 16th. Wall Street Zen cut shares of Baidu from a “hold” rating to a “sell” rating in a research report on Sunday. Finally, Arete raised shares of Baidu from a “sell” rating to a “buy” rating and set a $143.00 target price on the stock in a research report on Tuesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Baidu has an average rating of “Moderate Buy” and a consensus target price of $128.93.

Baidu Company Profile

Baidu, Inc engages in the provision of internet search services in China. It operates through two segments: Baidu Core and iQIYI. The company offers Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Baidu Health that helps users to find the doctor and hospital for healthcare needs; and Haokan, a short video app.