UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 122,887 Shares of Baidu, Inc. $BIDU

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Baidu, Inc. (NASDAQ:BIDUFree Report) by 19,231.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 123,526 shares of the information services provider’s stock after buying an additional 122,887 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Baidu were worth $14,118,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. RPD Fund Management LLC increased its position in shares of Baidu by 161.6% in the 2nd quarter. RPD Fund Management LLC now owns 1,258,856 shares of the information services provider’s stock valued at $107,959,000 after buying an additional 777,570 shares in the last quarter. Morgan Stanley raised its holdings in shares of Baidu by 38.0% during the fourth quarter. Morgan Stanley now owns 2,709,426 shares of the information services provider’s stock worth $354,014,000 after acquiring an additional 745,588 shares during the period. ARK Investment Management LLC lifted its position in Baidu by 127.8% in the 4th quarter. ARK Investment Management LLC now owns 1,157,878 shares of the information services provider’s stock valued at $151,288,000 after acquiring an additional 649,490 shares in the last quarter. Bank of America Corp DE boosted its stake in Baidu by 106.7% in the 3rd quarter. Bank of America Corp DE now owns 1,129,272 shares of the information services provider’s stock worth $148,804,000 after purchasing an additional 582,832 shares during the period. Finally, Steadfast Capital Management LP acquired a new stake in shares of Baidu in the 3rd quarter valued at about $59,966,000.

Baidu Stock Performance

BIDU opened at $99.47 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.33 and a current ratio of 2.33. Baidu, Inc. has a 52-week low of $89.60 and a 52-week high of $165.30. The firm has a market cap of $33.84 billion, a P/E ratio of -47.14, a price-to-earnings-growth ratio of 4.39 and a beta of 0.57. The business’s fifty day moving average is $105.74 and its 200-day moving average is $117.24.

Analyst Ratings Changes

BIDU has been the subject of a number of research reports. Morgan Stanley downgraded Baidu from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $130.00 to $80.00 in a report on Wednesday, August 19th. Weiss Ratings reissued a “sell (d)” rating on shares of Baidu in a research report on Thursday, August 13th. Bank of America decreased their target price on shares of Baidu from $180.00 to $165.00 and set a “buy” rating for the company in a research report on Tuesday, July 14th. Zacks Research cut shares of Baidu from a “hold” rating to a “strong sell” rating in a research report on Monday, July 20th. Finally, Benchmark reduced their price target on Baidu from $215.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $154.89.

Read Our Latest Analysis on BIDU

About Baidu

(Free Report)

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.

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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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