26,911 Shares in Baidu, Inc. $BIDU Bought by Niles Investment Management LLC

Niles Investment Management LLC acquired a new position in shares of Baidu, Inc. (NASDAQ:BIDU) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 26,911 shares of the information services provider’s stock, valued at approximately $3,516,000. Baidu accounts for 2.7% of Niles Investment Management LLC’s holdings, making the stock its 13th biggest holding.

Several other hedge funds have also added to or reduced their stakes in BIDU. Schroder Investment Management Group acquired a new stake in Baidu during the 3rd quarter worth $165,334,000. RPD Fund Management LLC raised its stake in shares of Baidu by 161.6% in the 2nd quarter. RPD Fund Management LLC now owns 1,258,856 shares of the information services provider’s stock valued at $107,959,000 after purchasing an additional 777,570 shares during the period. Morgan Stanley raised its stake in shares of Baidu by 38.0% in the 4th quarter. Morgan Stanley now owns 2,709,426 shares of the information services provider’s stock valued at $354,014,000 after purchasing an additional 745,588 shares during the period. Contrarius Group Holdings Ltd raised its stake in shares of Baidu by 500.3% in the 3rd quarter. Contrarius Group Holdings Ltd now owns 891,749 shares of the information services provider’s stock valued at $117,506,000 after purchasing an additional 743,205 shares during the period. Finally, ARK Investment Management LLC raised its stake in shares of Baidu by 127.8% in the 4th quarter. ARK Investment Management LLC now owns 1,157,878 shares of the information services provider’s stock valued at $151,288,000 after purchasing an additional 649,490 shares during the period.

Analyst Ratings Changes

Several analysts have issued reports on BIDU shares. Zacks Research downgraded Baidu from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 16th. Morgan Stanley lifted their price target on Baidu from $135.00 to $140.00 in a research note on Tuesday, May 19th. Wall Street Zen raised Baidu from a “sell” rating to a “hold” rating in a research note on Monday, May 25th. Barclays dropped their price target on Baidu from $147.00 to $128.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 5th. Finally, BNP Paribas Exane started coverage on Baidu in a research note on Wednesday, April 1st. They issued an “outperform” rating and a $161.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Baidu presently has an average rating of “Moderate Buy” and an average target price of $162.58.

Baidu Price Performance

Shares of NASDAQ BIDU opened at $115.77 on Friday. The stock has a market capitalization of $39.39 billion, a price-to-earnings ratio of -964.67, a PEG ratio of 1.98 and a beta of 0.54. The business has a 50-day moving average of $126.68 and a 200-day moving average of $129.85. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.85 and a quick ratio of 1.85. Baidu, Inc. has a fifty-two week low of $83.30 and a fifty-two week high of $165.30.

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.