Baidu, Inc. $BIDU Shares Acquired by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

Key Points

• UBS Asset Management increased its Baidu stake by 19,231.1% in the second quarter, adding 122,887 shares to hold 123,526 shares valued at approximately $14.1 million.
• Several other institutional investors also expanded their positions, including RPD Fund Management, Morgan Stanley, ARK Investment Management, and Bank of America.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $154.89, although several firms recently lowered their targets; Baidu shares opened at $99.47, near the lower end of their 52-week range.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 19,231.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 123,526 shares of the information services provider's stock after buying an additional 122,887 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC's holdings in Baidu were worth $14,118,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of BIDU. RPD Fund Management LLC lifted its stake in Baidu by 161.6% in the 2nd quarter. RPD Fund Management LLC now owns 1,258,856 shares of the information services provider's stock worth $107,959,000 after acquiring an additional 777,570 shares in the last quarter. Morgan Stanley grew its position in Baidu by 38.0% in the fourth quarter. Morgan Stanley now owns 2,709,426 shares of the information services provider's stock worth $354,014,000 after acquiring an additional 745,588 shares in the last quarter. ARK Investment Management LLC boosted its holdings in Baidu by 127.8% in the fourth 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 in the last quarter. Bank of America Corp DE increased its position in Baidu by 106.7% during the third quarter. Bank of America Corp DE now owns 1,129,272 shares of the information services provider's stock worth $148,804,000 after buying an additional 582,832 shares during the last quarter. Finally, Steadfast Capital Management LP bought a new position in Baidu during the third quarter valued at about $59,966,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BIDU. JPMorgan Chase & Co. lowered their price objective on Baidu from $230.00 to $205.00 and set an "overweight" rating on the stock in a report on Friday, July 17th. Citigroup reiterated a "buy" rating on shares of Baidu in a research note on Tuesday, June 23rd. Wall Street Zen raised shares of Baidu from a "sell" rating to a "hold" rating in a research report on Monday, May 25th. Barclays decreased their price target on shares of Baidu from $124.00 to $96.00 and set an "equal weight" rating for the company in a report on Wednesday, August 19th. Finally, Susquehanna dropped their price objective on Baidu from $140.00 to $105.00 and set a "neutral" rating on the stock in a research note on Friday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $154.89.

Baidu Stock Up 4.1%

BIDU opened at $99.47 on Friday. The company has a market capitalization of $33.84 billion, a P/E ratio of -47.14, a P/E/G ratio of 4.39 and a beta of 0.57. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 2.33. The firm's fifty day moving average price is $105.74 and its two-hundred day moving average price is $117.24. Baidu, Inc. has a fifty-two week low of $89.60 and a fifty-two week high of $165.30.

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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