BNP Paribas Decreases Stock Holdings in Baidu, Inc. $BIDU

Key Points

• BNP Paribas cut its Baidu stake by 85.8% in the second quarter, selling 14,409 shares and retaining 2,380 shares valued at approximately $268,000.
• Institutional sentiment was mixed: WCM Investment Management and Handelsbanken Fonder significantly increased their positions, while several other funds initiated new stakes.
• Analyst views remain broadly positive, with a consensus “Moderate Buy” rating and average price target of $154.89, although recent targets ranged from $105 to $190. Baidu shares opened at $97.12, near the lower end of their 52-week range.

BNP Paribas lowered its holdings in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 85.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,380 shares of the information services provider's stock after selling 14,409 shares during the period. BNP Paribas' holdings in Baidu were worth $268,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Central Asset Investments & Management Holdings HK Ltd bought a new stake in shares of Baidu in the fourth quarter worth about $2,626,000. WCM Investment Management LLC lifted its holdings in shares of Baidu by 967.3% in the 1st quarter. WCM Investment Management LLC now owns 454,295 shares of the information services provider's stock worth $48,428,000 after acquiring an additional 411,731 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Baidu by 110.9% during the 2nd quarter. Handelsbanken Fonder AB now owns 246,789 shares of the information services provider's stock worth $28,206,000 after purchasing an additional 129,789 shares during the period. Maxi Investments CY Ltd purchased a new position in shares of Baidu during the 4th quarter worth about $5,403,000. Finally, Matthews International Capital Management LLC bought a new position in Baidu during the 1st quarter valued at about $2,603,000.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Nomura upped their target price on Baidu from $186.00 to $190.00 and gave the stock a "buy" rating in a report on Wednesday, May 20th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Baidu in a research report on Thursday, August 13th. Susquehanna cut their price objective on shares of Baidu from $140.00 to $105.00 and set a "neutral" rating on the stock in a report on Friday. Benchmark reduced their target price on Baidu from $215.00 to $150.00 and set a "buy" rating for the company in a research note on Wednesday, August 19th. Finally, Citigroup restated a "buy" rating on shares of Baidu in a research note on Tuesday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, Baidu has a consensus rating of "Moderate Buy" and an average target price of $154.89.

Baidu Stock Performance

BIDU opened at $97.12 on Friday. The firm's fifty day simple moving average is $106.91 and its two-hundred day simple moving average is $118.89. Baidu, Inc. has a 52-week low of $89.60 and a 52-week high of $165.30. The company has a market cap of $33.05 billion, a price-to-earnings ratio of -46.03, a PEG ratio of 4.28 and a beta of 0.58. The company has a quick ratio of 2.33, a current ratio of 2.33 and a debt-to-equity ratio of 0.28.

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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