AI Squared Management Ltd Acquires 9,400 Shares of Baidu, Inc. $BIDU

AI Squared Management Ltd grew its holdings in Baidu, Inc. (NASDAQ:BIDU) by 10.7% during the 4th quarter, HoldingsChannel reports. The firm owned 97,150 shares of the information services provider’s stock after acquiring an additional 9,400 shares during the quarter. Baidu comprises about 14.7% of AI Squared Management Ltd’s investment portfolio, making the stock its biggest position. AI Squared Management Ltd’s holdings in Baidu were worth $12,694,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Central Asset Investments & Management Holdings HK Ltd acquired a new stake in shares of Baidu in the fourth quarter valued at about $2,626,000. Yarbrough Capital LLC acquired a new stake in Baidu during the fourth quarter worth about $1,697,000. Earnest Partners LLC grew its position in Baidu by 21.9% during the third quarter. Earnest Partners LLC now owns 818,930 shares of the information services provider’s stock worth $107,910,000 after buying an additional 146,992 shares in the last quarter. ARK Investment Management LLC grew its position in Baidu by 72.7% during the third quarter. ARK Investment Management LLC now owns 508,388 shares of the information services provider’s stock worth $66,990,000 after buying an additional 213,941 shares in the last quarter. Finally, TT International Asset Management LTD acquired a new stake in Baidu during the fourth quarter worth about $33,727,000.

Analyst Upgrades and Downgrades

BIDU has been the topic of a number of recent research reports. Morgan Stanley lifted their target price on Baidu from $135.00 to $140.00 in a research report on Tuesday, May 19th. Wall Street Zen raised Baidu from a “sell” rating to a “hold” rating in a research report on Monday, May 25th. Zacks Research downgraded Baidu from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 16th. Zephirin Group lifted their target price on Baidu from $88.00 to $89.00 and gave the stock a “sell” rating in a research report on Monday, March 2nd. Finally, BNP Paribas Exane initiated coverage on Baidu in a research report on Wednesday, April 1st. They set an “outperform” rating and a $161.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Baidu currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.58.

Baidu Stock Down 1.2%

Shares of BIDU opened at $116.11 on Friday. The stock has a market cap of $39.51 billion, a price-to-earnings ratio of -967.50, a P/E/G ratio of 2.00 and a beta of 0.54. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.22. Baidu, Inc. has a 12 month low of $83.30 and a 12 month high of $165.30. The company has a 50-day moving average price of $126.61 and a two-hundred day moving average price of $129.94.

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.