Everstar Asset Management LLC Increases Stock Holdings in Baidu, Inc. $BIDU

Everstar Asset Management LLC lifted its position in shares of Baidu, Inc. (NASDAQ:BIDU) by 134.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,850 shares of the information services provider’s stock after buying an additional 5,650 shares during the quarter. Everstar Asset Management LLC’s holdings in Baidu were worth $1,097,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in BIDU. Binnacle Investments Inc acquired a new stake in Baidu in the 2nd quarter valued at about $29,000. Sankala Group LLC purchased a new position in Baidu during the 4th quarter valued at about $46,000. Brown Brothers Harriman & Co. raised its position in Baidu by 35.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 405 shares of the information services provider’s stock worth $53,000 after acquiring an additional 105 shares during the last quarter. UMB Bank n.a. raised its position in Baidu by 25.9% during the fourth quarter. UMB Bank n.a. now owns 428 shares of the information services provider’s stock worth $56,000 after acquiring an additional 88 shares during the last quarter. Finally, Winthrop Capital Management LLC purchased a new stake in shares of Baidu in the fourth quarter valued at about $59,000.

Baidu Price Performance

Baidu stock opened at $111.76 on Monday. Baidu, Inc. has a 12-month low of $83.30 and a 12-month high of $165.30. The stock has a market capitalization of $38.03 billion, a P/E ratio of -931.26, a P/E/G ratio of 1.91 and a beta of 0.54. The firm’s 50-day moving average is $126.83 and its two-hundred day moving average is $129.76. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.85 and a quick ratio of 1.85.

Analyst Upgrades and Downgrades

BIDU has been the topic of several research reports. Susquehanna increased their price target on shares of Baidu from $120.00 to $140.00 and gave the company a “neutral” rating in a research report on Wednesday, May 20th. Zacks Research upgraded Baidu from a “strong sell” rating to a “hold” rating in a research report on Monday, June 15th. Barclays reduced their target price 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. Nomura increased their target price on Baidu from $186.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, May 20th. Finally, Benchmark reissued a “buy” rating and set a $215.00 price target on shares of Baidu in a research report on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Baidu currently has a consensus rating of “Moderate Buy” and an average target price of $162.58.

Baidu 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.