Nykredit A S Takes Position in Baidu, Inc. $BIDU

Key Points

• Nykredit A/S acquired 245,766 Baidu shares in the second quarter, valued at approximately $28.1 million and representing about 0.07% of the company.
• Baidu shares opened at $95.58, near the lower end of their 52-week range of $89.60 to $165.30, with the stock trading below its 50-day and 200-day moving averages.
• Analyst sentiment remains a “Moderate Buy,” with a consensus price target of $154.89, although several firms have recently lowered their targets and Morgan Stanley downgraded the stock to “underweight.”

Nykredit A S purchased a new position in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 245,766 shares of the information services provider's stock, valued at approximately $28,089,000. Nykredit A S owned about 0.07% of Baidu as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of BIDU. Signature Equity Partners LLC acquired a new stake in shares of Baidu in the first quarter valued at approximately $25,000. Binnacle Investments Inc acquired a new position in shares of Baidu during the second quarter worth approximately $29,000. Sankala Group LLC bought a new position in Baidu in the 4th quarter worth approximately $46,000. Brown Brothers Harriman & Co. grew its holdings in Baidu by 35.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 405 shares of the information services provider's stock worth $53,000 after buying an additional 105 shares in the last quarter. Finally, UMB Bank n.a. increased its position in Baidu by 25.9% in the 4th quarter. UMB Bank n.a. now owns 428 shares of the information services provider's stock valued at $56,000 after acquiring an additional 88 shares during the period.

Baidu Stock Performance

BIDU opened at $95.58 on Friday. The business has a 50 day moving average price of $105.84 and a two-hundred day moving average price of $117.37. 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 company has a market capitalization of $32.52 billion, a price-to-earnings ratio of -45.30, a price-to-earnings-growth ratio of 4.16 and a beta of 0.57. Baidu, Inc. has a 1-year low of $89.60 and a 1-year high of $165.30.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on BIDU shares. Bank of America reduced their price target on Baidu from $180.00 to $165.00 and set a "buy" rating for the company in a research report on Tuesday, July 14th. JPMorgan Chase & Co. lowered their price target on Baidu from $230.00 to $205.00 and set an "overweight" rating on the stock in a report on Friday, July 17th. Morgan Stanley cut shares of Baidu from an "equal weight" rating to an "underweight" rating and cut their price objective for the company from $130.00 to $80.00 in a research note on Wednesday, August 19th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Baidu in a report on Thursday, August 13th. Finally, Benchmark decreased their target price on shares of Baidu from $215.00 to $150.00 and set a "buy" rating for the company in a research report on Wednesday, August 19th. One equities research 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 given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $154.89.

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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