Knollwood Investment Advisory LLC Acquires New Shares in Baidu, Inc. $BIDU

Key Points

• Knollwood Investment Advisory LLC made a new acquisition of 3,410 shares of Baidu, Inc. valued at approximately $314,000 in Q1.
• Multiple hedge funds adjusted their stakes in Baidu, with significant increases including GeoWealth Management LLC lifting its holdings by 88.5%.
• Wall Street analysts maintain a consensus rating of "Hold" on Baidu stock, with an average price target of $105.09, reflecting mixed views on its future performance.

Knollwood Investment Advisory LLC acquired a new position in Baidu, Inc. (NASDAQ:BIDU - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 3,410 shares of the information services provider's stock, valued at approximately $314,000.

Other large investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in Baidu by 1,377.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,324,728 shares of the information services provider's stock valued at $490,035,000 after buying an additional 4,964,350 shares during the last quarter. RPD Fund Management LLC purchased a new stake in Baidu during the 4th quarter valued at about $72,245,000. Massachusetts Financial Services Co. MA lifted its stake in shares of Baidu by 319.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 807,322 shares of the information services provider's stock valued at $74,298,000 after purchasing an additional 615,061 shares during the period. Cantor Fitzgerald L. P. grew its stake in Baidu by 1,510.9% in the 4th quarter. Cantor Fitzgerald L. P. now owns 399,975 shares of the information services provider's stock valued at $33,722,000 after acquiring an additional 375,145 shares during the period. Finally, Triata Capital Ltd lifted its position in shares of Baidu by 193.9% in the first quarter. Triata Capital Ltd now owns 568,432 shares of the information services provider's stock valued at $52,313,000 after acquiring an additional 375,007 shares in the last quarter.

Wall Street Analysts Forecast Growth

BIDU has been the topic of several recent research reports. Benchmark lowered their target price on Baidu from $120.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday. Barclays dropped their target price on Baidu from $84.00 to $81.00 and set an "equal weight" rating for the company in a report on Friday, July 18th. Jefferies Financial Group cut their target price on Baidu from $120.00 to $110.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Citigroup lifted their target price on shares of Baidu from $138.00 to $140.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Finally, Macquarie reiterated a "neutral" rating on shares of Baidu in a report on Wednesday, May 21st. Seven equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, Baidu has an average rating of "Hold" and a consensus price target of $104.64.

Baidu Price Performance

Shares of NASDAQ:BIDU traded up $2.40 during trading on Friday, hitting $90.01. 4,244,974 shares of the stock were exchanged, compared to its average volume of 3,692,164. The company has a current ratio of 1.85, a quick ratio of 2.29 and a debt-to-equity ratio of 0.19. The company has a market cap of $31.09 billion, a PE ratio of 8.30 and a beta of 0.34. Baidu, Inc. has a 12-month low of $74.71 and a 12-month high of $116.25. The company has a fifty day moving average price of $87.73 and a two-hundred day moving average price of $88.42.

About Baidu

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.