368,351 Shares in Baidu, Inc. $BIDU Purchased by Aspex Management HK Ltd

Aspex Management HK Ltd acquired a new stake in Baidu, Inc. (NASDAQ:BIDU) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 368,351 shares of the information services provider’s stock, valued at approximately $48,538,000. Baidu accounts for about 1.0% of Aspex Management HK Ltd’s investment portfolio, making the stock its 17th largest holding. Aspex Management HK Ltd owned approximately 0.11% of Baidu at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Voya Investment Management LLC bought a new stake in Baidu during the third quarter worth $2,027,000. Greenwood Capital Associates LLC lifted its position in shares of Baidu by 36.7% during the 3rd quarter. Greenwood Capital Associates LLC now owns 53,291 shares of the information services provider’s stock worth $7,022,000 after buying an additional 14,315 shares during the last quarter. Marex Group plc bought a new position in Baidu in the second quarter valued at about $7,200,000. Polunin Capital Partners Ltd raised its stake in Baidu by 19.9% during the third quarter. Polunin Capital Partners Ltd now owns 412,368 shares of the information services provider’s stock worth $58,556,000 after acquiring an additional 68,496 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in Baidu during the third quarter worth about $9,328,000.

Baidu Trading Up 0.7%

NASDAQ:BIDU opened at $124.07 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.76 and a quick ratio of 1.91. The firm has a 50-day moving average of $140.63 and a 200-day moving average of $128.34. The company has a market cap of $42.86 billion, a PE ratio of 78.03 and a beta of 0.32. Baidu, Inc. has a one year low of $74.71 and a one year high of $165.30.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on BIDU shares. Bank of America raised their price target on shares of Baidu from $100.00 to $151.00 and gave the company a “buy” rating in a research note on Wednesday, November 19th. Morgan Stanley lowered their price objective on shares of Baidu from $150.00 to $135.00 and set an “equal weight” rating for the company in a research report on Friday, February 27th. UBS Group reissued a “buy” rating on shares of Baidu in a research note on Wednesday, February 4th. The Goldman Sachs Group boosted their target price on shares of Baidu from $154.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, November 19th. Finally, Wall Street Zen downgraded shares of Baidu from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Baidu presently has an average rating of “Moderate Buy” and an average target price of $157.89.

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.