6,528 Shares in Baidu, Inc. $BIDU Purchased by DNB Asset Management AS

DNB Asset Management AS purchased a new stake in shares of Baidu, Inc. (NASDAQ:BIDU) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 6,528 shares of the information services provider’s stock, valued at approximately $860,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. West Family Investments Inc. purchased a new position in shares of Baidu during the third quarter valued at approximately $223,000. Fox Run Management L.L.C. purchased a new position in Baidu during the 3rd quarter valued at $1,137,000. Compound Planning Inc. increased its position in Baidu by 39.3% during the 3rd quarter. Compound Planning Inc. now owns 5,237 shares of the information services provider’s stock valued at $690,000 after purchasing an additional 1,478 shares during the period. Aurora Investment Managers LLC. bought a new position in Baidu in the 3rd quarter worth $3,424,000. Finally, OneDigital Investment Advisors LLC purchased a new stake in shares of Baidu in the 3rd quarter worth about $253,000.

Baidu Stock Down 3.9%

Shares of NASDAQ:BIDU opened at $118.71 on Wednesday. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. The stock has a fifty day simple moving average of $141.96 and a two-hundred day simple moving average of $127.04. Baidu, Inc. has a 12-month low of $74.71 and a 12-month high of $165.30. The stock has a market capitalization of $41.01 billion, a price-to-earnings ratio of 74.66 and a beta of 0.32.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. UBS Group reiterated a “buy” rating on shares of Baidu in a research report on Wednesday, February 4th. Zephirin Group upped their target price on Baidu from $88.00 to $89.00 and gave the stock a “sell” rating in a report on Monday. Bank of America raised their target price on Baidu from $100.00 to $151.00 and gave the company a “buy” rating in a research note on Wednesday, November 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Baidu in a research note on Monday, December 29th. Finally, Barclays increased their price objective on Baidu from $100.00 to $147.00 and gave the stock an “equal weight” rating in a report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Baidu presently has a consensus rating of “Moderate Buy” and an average target price of $158.94.

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.