ARK Investment Management LLC Acquires 166,088 Shares of Baidu, Inc. $BIDU

Key Points

• ARK Investment Management LLC increased its stake in Baidu, Inc. by 129.4%, acquiring an additional 166,088 shares, bringing its total holdings to 294,447 shares worth approximately $25.25 million.
• Baidu's stock has seen a decline of 2.4%, trading at $119.14 with a market cap of $41.16 billion and a P/E ratio of 10.98.
• Analysts have varied opinions on Baidu, with recent price targets ranging from $95.00 to $143.00, and a consensus rating of "Moderate Buy" with an average target of $128.93.

ARK Investment Management LLC grew its holdings in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 129.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 294,447 shares of the information services provider's stock after acquiring an additional 166,088 shares during the period. ARK Investment Management LLC owned about 0.09% of Baidu worth $25,252,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of BIDU. Creekmur Asset Management LLC bought a new position in shares of Baidu during the first quarter valued at $29,000. Assetmark Inc. increased its position in shares of Baidu by 143.3% during the first quarter. Assetmark Inc. now owns 326 shares of the information services provider's stock worth $30,000 after buying an additional 192 shares during the period. CX Institutional increased its position in shares of Baidu by 34.1% during the second quarter. CX Institutional now owns 715 shares of the information services provider's stock worth $61,000 after buying an additional 182 shares during the period. Parallel Advisors LLC increased its position in shares of Baidu by 17.0% during the second quarter. Parallel Advisors LLC now owns 935 shares of the information services provider's stock worth $80,000 after buying an additional 136 shares during the period. Finally, Silver Oak Securities Incorporated acquired a new stake in shares of Baidu during the first quarter worth $97,000.

Baidu Stock Down 2.4%

BIDU opened at $119.14 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.85 and a quick ratio of 1.85. The company's 50-day moving average is $114.67 and its 200 day moving average is $96.30. Baidu, Inc. has a fifty-two week low of $74.71 and a fifty-two week high of $149.51. The firm has a market capitalization of $41.16 billion, a P/E ratio of 10.98 and a beta of 0.42.

Analysts Set New Price Targets

Several research firms have recently weighed in on BIDU. Benchmark decreased their price objective on shares of Baidu from $120.00 to $115.00 and set a "buy" rating for the company in a research report on Thursday, August 21st. Arete upgraded shares of Baidu from a "sell" rating to a "buy" rating and set a $143.00 price objective for the company in a research report on Tuesday, September 16th. Citigroup restated a "buy" rating on shares of Baidu in a report on Monday, October 13th. Susquehanna raised their price target on shares of Baidu from $85.00 to $95.00 and gave the stock a "neutral" rating in a report on Tuesday, September 2nd. Finally, Wall Street Zen cut shares of Baidu from a "hold" rating to a "sell" rating in a report on Sunday. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $128.93.

Baidu Profile

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.

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