Banque Cantonale Vaudoise Invests $936,000 in Baidu, Inc. (NASDAQ:BIDU)

Key Points

• Banque Cantonale Vaudoise has invested approximately $936,000 in Baidu, acquiring 10,170 shares during the first quarter.
• Other hedge funds like Mirae Asset Global Investments and Massachusetts Financial Services significantly increased their holdings, with Mirae's position growing by 1,377.5%.
• Baidu's stock has a 52-week low of $74.71 and a high of $116.25, with an average target price set at $105.09 by analysts.

Banque Cantonale Vaudoise bought a new position in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 10,170 shares of the information services provider's stock, valued at approximately $936,000.

A number of other hedge funds also recently modified their holdings of BIDU. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Baidu by 1,377.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,324,728 shares of the information services provider's stock worth $490,035,000 after purchasing an additional 4,964,350 shares during the period. RPD Fund Management LLC bought a new position in shares of Baidu in the fourth quarter worth $72,245,000. Massachusetts Financial Services Co. MA increased its position in shares of Baidu by 319.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 807,322 shares of the information services provider's stock worth $74,298,000 after purchasing an additional 615,061 shares during the period. FIL Ltd increased its position in shares of Baidu by 367.1% in the fourth quarter. FIL Ltd now owns 599,918 shares of the information services provider's stock worth $50,579,000 after purchasing an additional 471,497 shares during the period. Finally, Cantor Fitzgerald L. P. increased its position in shares of Baidu by 1,510.9% in the fourth quarter. Cantor Fitzgerald L. P. now owns 399,975 shares of the information services provider's stock worth $33,722,000 after purchasing an additional 375,145 shares during the period.

Baidu Price Performance

Shares of BIDU opened at $87.87 on Friday. Baidu, Inc. has a 52-week low of $74.71 and a 52-week high of $116.25. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.29 and a current ratio of 2.29. The business's 50 day moving average price is $86.80 and its two-hundred day moving average price is $88.22. The firm has a market cap of $30.35 billion, a PE ratio of 8.72 and a beta of 0.33.

Wall Street Analyst Weigh In

A number of research analysts recently commented on BIDU shares. Benchmark decreased their price target on Baidu from $130.00 to $120.00 and set a "buy" rating on the stock in a research report on Thursday, May 22nd. Barclays decreased their target price on Baidu from $84.00 to $81.00 and set an "equal weight" rating on the stock in a research report on Friday, July 18th. Jefferies Financial Group decreased their target price on Baidu from $120.00 to $110.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Macquarie reiterated a "neutral" rating on shares of Baidu in a research report on Wednesday, May 21st. Finally, Citigroup lifted their target price on Baidu from $138.00 to $140.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $105.09.

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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