RPD Fund Management LLC Makes New $72.25 Million Investment in Baidu, Inc. (NASDAQ:BIDU)

RPD Fund Management LLC bought a new position in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 856,895 shares of the information services provider's stock, valued at approximately $72,245,000. Baidu accounts for approximately 29.4% of RPD Fund Management LLC's holdings, making the stock its largest position. RPD Fund Management LLC owned approximately 0.24% of Baidu as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of BIDU. Assenagon Asset Management S.A. bought a new position in shares of Baidu during the fourth quarter worth about $2,202,000. Retireful LLC bought a new position in shares of Baidu during the 4th quarter worth approximately $205,000. Crossmark Global Holdings Inc. raised its holdings in shares of Baidu by 14.5% in the fourth quarter. Crossmark Global Holdings Inc. now owns 15,913 shares of the information services provider's stock valued at $1,341,000 after purchasing an additional 2,015 shares during the last quarter. Atomi Financial Group Inc. lifted its position in shares of Baidu by 45.8% in the fourth quarter. Atomi Financial Group Inc. now owns 3,026 shares of the information services provider's stock worth $255,000 after purchasing an additional 950 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in Baidu by 147.5% during the fourth quarter. SG Americas Securities LLC now owns 381,456 shares of the information services provider's stock worth $32,161,000 after purchasing an additional 227,338 shares during the last quarter.

Analyst Ratings Changes

Several equities research analysts have commented on BIDU shares. Mizuho boosted their price target on shares of Baidu from $95.00 to $105.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Nomura downgraded shares of Baidu from a "buy" rating to a "neutral" rating in a research note on Wednesday, February 19th. Benchmark restated a "buy" rating and set a $130.00 price objective on shares of Baidu in a research note on Wednesday, February 19th. Barclays reduced their price objective on shares of Baidu from $95.00 to $90.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. Finally, Daiwa Capital Markets reissued an "outperform" rating on shares of Baidu in a research note on Tuesday, February 18th. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $109.55.

Baidu Stock Performance

Shares of BIDU traded down $0.09 during midday trading on Monday, reaching $89.25. 1,768,367 shares of the stock were exchanged, compared to its average volume of 4,082,859. Baidu, Inc. has a twelve month low of $74.71 and a twelve month high of $116.25. The company has a quick ratio of 2.19, a current ratio of 2.09 and a debt-to-equity ratio of 0.19. The company has a market cap of $30.83 billion, a P/E ratio of 9.73, a PEG ratio of 2.96 and a beta of 0.37. The stock's 50 day simple moving average is $89.03 and its 200 day simple moving average is $87.97.

Baidu Company 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.