Alyeska Investment Group L.P. Buys 912,638 Shares of Baidu, Inc. $BIDU

Alyeska Investment Group L.P. boosted its position in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 307.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,209,089 shares of the information services provider's stock after purchasing an additional 912,638 shares during the period. Alyeska Investment Group L.P. owned about 0.36% of Baidu worth $138,187,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. RPD Fund Management LLC increased its stake 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 worth $107,959,000 after purchasing an additional 777,570 shares in the last quarter. Morgan Stanley boosted its stake in Baidu by 38.0% in the 4th quarter. Morgan Stanley now owns 2,709,426 shares of the information services provider's stock worth $354,014,000 after purchasing an additional 745,588 shares during the period. ARK Investment Management LLC boosted its stake 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 worth $151,288,000 after purchasing an additional 649,490 shares during the period. Bank of America Corp DE grew its holdings in Baidu by 106.7% during the 3rd 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 buying an additional 582,832 shares in the last quarter. Finally, Steadfast Capital Management LP purchased a new position in Baidu during the 3rd quarter valued at about $59,966,000.

Baidu Stock Up 0.2%

Shares of Baidu stock opened at $97.12 on Friday. The stock has a market capitalization of $33.05 billion, a PE ratio of -46.03, a price-to-earnings-growth ratio of 4.29 and a beta of 0.58. Baidu, Inc. has a 52-week low of $89.60 and a 52-week high of $165.30. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.33 and a current ratio of 2.33. The company has a 50-day simple moving average of $106.91 and a two-hundred day simple moving average of $118.89.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BIDU. Weiss Ratings restated a "sell (d)" rating on shares of Baidu in a research report on Thursday, August 13th. JPMorgan Chase & Co. lowered their target price on Baidu from $230.00 to $205.00 and set an "overweight" rating for the company in a research note on Friday, July 17th. Barclays dropped their target price on Baidu from $124.00 to $96.00 and set an "equal weight" rating for the company in a report on Wednesday, August 19th. Wall Street Zen upgraded Baidu from a "sell" rating to a "hold" rating in a research report on Monday, May 25th. Finally, Citigroup reiterated a "buy" rating on shares of Baidu in a research report on Tuesday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have given a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Baidu presently has a consensus rating of "Moderate Buy" and a consensus price target of $154.89.

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.

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