Baidu, Inc. $BIDU Shares Sold by Amova Asset Management Americas Inc.

Key Points

• Amova Asset Management Americas cut its Baidu stake by 15% in the first quarter, selling 99,861 shares and leaving it with 567,778 shares valued at about $63.3 million.
• Other institutional investors showed mixed activity, with firms like Morgan Stanley, RPD Fund Management, and ARK Investment increasing their positions in Baidu during recent quarters.
• Analyst sentiment remains Moderate Buy overall, though price targets have been mixed recently, including cuts from Barclays and JPMorgan alongside higher targets from Nomura and BNP Paribas Exane.

Amova Asset Management Americas Inc. reduced its holdings in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 15.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 567,778 shares of the information services provider's stock after selling 99,861 shares during the quarter. Amova Asset Management Americas Inc. owned 0.17% of Baidu worth $63,262,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BIDU. Morgan Stanley lifted its holdings in shares of Baidu by 38.0% during the fourth quarter. Morgan Stanley now owns 2,709,426 shares of the information services provider's stock valued at $354,014,000 after purchasing an additional 745,588 shares during the last quarter. RPD Fund Management LLC increased 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 purchasing an additional 777,570 shares in the last quarter. Capital World Investors increased its stake in Baidu by 21.0% in the 4th quarter. Capital World Investors now owns 1,182,857 shares of the information services provider's stock worth $154,552,000 after purchasing an additional 205,040 shares in the last quarter. ARK Investment Management LLC raised its holdings in Baidu by 127.8% during 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 buying an additional 649,490 shares during the period. Finally, Bank of America Corp DE raised 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 worth $148,804,000 after buying an additional 582,832 shares during the period.

Baidu Stock Performance

Shares of NASDAQ BIDU opened at $109.81 on Tuesday. The business's 50-day moving average price is $121.11 and its two-hundred day moving average price is $128.05. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.85 and a quick ratio of 1.85. Baidu, Inc. has a one year low of $84.64 and a one year high of $165.30. The company has a market capitalization of $37.36 billion, a P/E ratio of -915.01, a price-to-earnings-growth ratio of 1.94 and a beta of 0.56.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BIDU. Barclays dropped their target price on shares of Baidu from $128.00 to $124.00 and set an "equal weight" rating on the stock in a research report on Monday, July 13th. BNP Paribas Exane started coverage on shares of Baidu in a research note on Wednesday, April 1st. They issued an "outperform" rating and a $161.00 price objective for the company. Zacks Research upgraded shares of Baidu from a "strong sell" rating to a "hold" rating in a research report on Monday, June 15th. Nomura increased their target price on Baidu from $186.00 to $190.00 and gave the company a "buy" rating in a report on Wednesday, May 20th. Finally, JPMorgan Chase & Co. decreased their target price on Baidu from $230.00 to $205.00 and set an "overweight" rating for the company in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Baidu presently has a consensus rating of "Moderate Buy" and an average target price of $165.33.

About Baidu

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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