Amundi Has $8.91 Million Stock Position in Baidu, Inc. $BIDU

Key Points

• Amundi significantly increased its Baidu position by 1,234.5% in the first quarter, adding 73,985 shares for a total holding of 79,978 shares valued at approximately $8.91 million.
• Analysts remain broadly positive on Baidu, with a consensus “Moderate Buy” rating and an average price target of $165.33, despite several recent target reductions.
• Baidu shares opened at $111.11, below their 50-day and 200-day moving averages, and have traded between $84.64 and $165.30 over the past year.

Amundi increased its holdings in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 1,234.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 79,978 shares of the information services provider's stock after buying an additional 73,985 shares during the quarter. Amundi's holdings in Baidu were worth $8,911,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Signature Equity Partners LLC bought a new position in shares of Baidu in the first quarter worth about $25,000. Binnacle Investments Inc bought a new stake in shares of Baidu during the 2nd quarter valued at approximately $29,000. Sankala Group LLC bought a new stake in shares of Baidu during the 4th quarter valued at approximately $46,000. Brown Brothers Harriman & Co. increased its position in Baidu by 35.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 405 shares of the information services provider's stock worth $53,000 after purchasing an additional 105 shares in the last quarter. Finally, UMB Bank n.a. increased its position in Baidu by 25.9% during the 4th quarter. UMB Bank n.a. now owns 428 shares of the information services provider's stock worth $56,000 after purchasing an additional 88 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on BIDU shares. Nomura increased their price objective on shares of Baidu from $186.00 to $190.00 and gave the company a "buy" rating in a research note on Wednesday, May 20th. Bank of America lowered their price target on shares of Baidu from $180.00 to $165.00 and set a "buy" rating for the company in a report on Tuesday, July 14th. JPMorgan Chase & Co. dropped their price target on Baidu from $230.00 to $205.00 and set an "overweight" rating for the company in a research note on Friday, July 17th. Morgan Stanley raised their price objective on Baidu from $135.00 to $140.00 in a report on Tuesday, May 19th. Finally, Susquehanna raised their price objective on Baidu from $120.00 to $140.00 and gave the company a "neutral" rating in a report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Baidu currently has an average rating of "Moderate Buy" and a consensus price target of $165.33.

Baidu Price Performance

BIDU stock opened at $111.11 on Thursday. The company has a fifty day moving average price of $114.63 and a 200-day moving average price of $124.94. The company has a market capitalization of $37.81 billion, a P/E ratio of -925.84, a PEG ratio of 2.44 and a beta of 0.58. Baidu, Inc. has a 52-week low of $84.64 and a 52-week high of $165.30. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.85 and a current ratio of 1.85.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source