XTX Topco Ltd Purchases New Position in Baidu, Inc. (NASDAQ:BIDU)

Key Points

• XTX Topco Ltd acquired a new stake in Baidu, Inc. by purchasing 3,992 shares valued at approximately $367,000.
• Multiple hedge funds, including Dodge & Cox and Mirae Asset Global Investments, have increased their holdings in Baidu, indicating growing interest in the company.
• Analysts have issued varied price targets for Baidu, with Citigroup raising its target to $140.00, while Barclays lowered it to $81.00, reflecting differing outlooks on the stock.

XTX Topco Ltd purchased a new stake in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,992 shares of the information services provider's stock, valued at approximately $367,000.

A number of other hedge funds also recently bought and sold shares of the business. Dodge & Cox increased its holdings in Baidu by 0.4% during the 4th quarter. Dodge & Cox now owns 5,916,215 shares of the information services provider's stock valued at $498,796,000 after purchasing an additional 22,000 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Baidu by 1,377.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,324,728 shares of the information services provider's stock valued at $490,035,000 after purchasing an additional 4,964,350 shares during the period. Dimensional Fund Advisors LP increased its holdings in Baidu by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,350,315 shares of the information services provider's stock valued at $113,845,000 after purchasing an additional 4,236 shares during the period. CoreView Capital Management Ltd increased its holdings in Baidu by 2.0% during the 4th quarter. CoreView Capital Management Ltd now owns 1,262,003 shares of the information services provider's stock valued at $106,399,000 after purchasing an additional 25,220 shares during the period. Finally, Bank of America Corp DE increased its holdings in Baidu by 14.1% during the 4th quarter. Bank of America Corp DE now owns 913,466 shares of the information services provider's stock valued at $77,014,000 after purchasing an additional 112,680 shares during the period.

Analysts Set New Price Targets

BIDU has been the topic of a number of research analyst reports. Macquarie restated a "neutral" rating on shares of Baidu in a report on Wednesday, May 21st. Barclays cut their price objective 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 cut their price objective on Baidu from $120.00 to $110.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Citigroup lifted their price objective on Baidu from $138.00 to $140.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Finally, Benchmark cut their price objective on Baidu from $130.00 to $120.00 and set a "buy" rating on the stock in a research report on Thursday, May 22nd. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $105.09.

Baidu Stock Performance

Shares of BIDU opened at $87.36 on Friday. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.27. The business's 50 day moving average price is $87.21 and its 200-day moving average price is $88.46. Baidu, Inc. has a 52 week low of $74.71 and a 52 week high of $116.25. The stock has a market cap of $30.18 billion, a P/E ratio of 8.67 and a beta of 0.34.

About Baidu

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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