Baidu, Inc. $BIDU Shares Acquired by DNB Asset Management AS

DNB Asset Management AS grew its holdings in Baidu, Inc. (NASDAQ:BIDU) by 6,832.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 452,579 shares of the information services provider’s stock after purchasing an additional 446,051 shares during the quarter. DNB Asset Management AS’s holdings in Baidu were worth $59,134,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of BIDU. Schroder Investment Management Group acquired a new stake in shares of Baidu in the third quarter valued at approximately $165,334,000. RPD Fund Management LLC grew its position in shares of Baidu by 161.6% in the second quarter. RPD Fund Management LLC now owns 1,258,856 shares of the information services provider’s stock valued at $107,959,000 after purchasing an additional 777,570 shares during the last quarter. Contrarius Group Holdings Ltd grew its position in shares of Baidu by 500.3% in the third quarter. Contrarius Group Holdings Ltd now owns 891,749 shares of the information services provider’s stock valued at $117,506,000 after purchasing an additional 743,205 shares during the last quarter. Bank of America Corp DE grew its position in shares of Baidu by 106.7% in the third quarter. Bank of America Corp DE now owns 1,129,272 shares of the information services provider’s stock valued at $148,804,000 after purchasing an additional 582,832 shares during the last quarter. Finally, Steadfast Capital Management LP acquired a new stake in shares of Baidu in the third quarter valued at approximately $59,966,000.

Baidu Stock Down 5.6%

Shares of BIDU opened at $135.33 on Friday. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.22. The firm has a market cap of $46.05 billion, a PE ratio of 85.11 and a beta of 0.53. The company’s fifty day moving average is $122.21 and its two-hundred day moving average is $128.99. Baidu, Inc. has a fifty-two week low of $81.17 and a fifty-two week high of $165.30.

Analyst Upgrades and Downgrades

BIDU has been the topic of several research reports. Barclays lowered their price target on shares of Baidu from $147.00 to $128.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 5th. Zephirin Group increased their price target on shares of Baidu from $88.00 to $89.00 and gave the company a “sell” rating in a research report on Monday, March 2nd. Susquehanna increased their price target on shares of Baidu from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. BNP Paribas Exane initiated coverage on shares of Baidu in a research report on Wednesday, April 1st. They issued an “outperform” rating and a $161.00 price target on the stock. Finally, Morgan Stanley decreased their target price on shares of Baidu from $150.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Baidu currently has an average rating of “Moderate Buy” and an average price target of $158.05.

Baidu Company 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.