Farallon Capital Management LLC Takes $27.41 Million Position in Baidu, Inc. $BIDU

Key Points

• Farallon Capital purchased 207,996 shares of Baidu (~$27.41 million) in Q3, representing about 0.06% of the company.
• Other institutions also ramped up exposure—most notably Bank of America more than doubled its stake to 1,129,272 shares (adding 582,832 shares) and Earnest Partners increased to 818,930 shares—signaling rising institutional interest.
• Analyst sentiment is mixed but positive overall, with an average rating of "Moderate Buy" and an average target price of $157.89 (individual targets range roughly from $135 to $181).

Farallon Capital Management LLC purchased a new stake in Baidu, Inc. (NASDAQ:BIDU - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 207,996 shares of the information services provider's stock, valued at approximately $27,408,000. Farallon Capital Management LLC owned about 0.06% of Baidu as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of BIDU. Fred Alger Management LLC purchased a new stake in Baidu during the 3rd quarter worth approximately $19,355,000. Earnest Partners LLC increased its position in shares of Baidu by 21.9% in the 3rd quarter. Earnest Partners LLC now owns 818,930 shares of the information services provider's stock valued at $107,910,000 after acquiring an additional 146,992 shares during the period. Clearline Capital LP purchased a new position in Baidu in the 3rd quarter worth $8,833,000. Bank of America Corp DE raised its stake in shares of Baidu by 106.7% in 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 purchasing an additional 582,832 shares during the last quarter. Finally, Bank of Nova Scotia purchased a new position in Baidu during the 3rd quarter worth approximately $300,000.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BIDU. Zephirin Group upped their price objective on shares of Baidu from $88.00 to $89.00 and gave the company a "sell" rating in a report on Monday, March 2nd. Morgan Stanley lowered their price target on shares of Baidu from $150.00 to $135.00 and set an "equal weight" rating on the stock in a report on Friday, February 27th. Citigroup reiterated a "buy" rating on shares of Baidu in a research note on Tuesday, January 13th. The Goldman Sachs Group raised their target price on Baidu from $154.00 to $155.00 and gave the stock a "buy" rating in a report on Wednesday, November 19th. Finally, Jefferies Financial Group boosted their price target on Baidu from $159.00 to $181.00 and gave the company a "buy" rating in a report on Friday, January 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $157.89.

Baidu Trading Up 0.7%

Shares of BIDU opened at $124.07 on Monday. Baidu, Inc. has a 52-week low of $74.71 and a 52-week high of $165.30. The company has a quick ratio of 1.91, a current ratio of 1.76 and a debt-to-equity ratio of 0.22. The firm's fifty day moving average is $140.63 and its two-hundred day moving average is $128.86. The stock has a market cap of $42.86 billion, a PE ratio of 78.03 and a beta of 0.33.

Baidu Company 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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