Assenagon Asset Management S.A. Has $293,000 Stock Position in Baidu, Inc. $BIDU

Assenagon Asset Management S.A. cut its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 98.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,632 shares of the information services provider’s stock after selling 127,735 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Baidu were worth $293,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Binnacle Investments Inc bought a new stake in shares of Baidu in the 2nd quarter valued at $29,000. Sankala Group LLC acquired a new stake in shares of Baidu during the fourth quarter worth $46,000. Brown Brothers Harriman & Co. raised its stake 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 buying an additional 105 shares during the last quarter. UMB Bank n.a. lifted its holdings in Baidu by 25.9% in the fourth quarter. UMB Bank n.a. now owns 428 shares of the information services provider’s stock valued at $56,000 after buying an additional 88 shares during the period. Finally, Winthrop Capital Management LLC acquired a new position in Baidu in the fourth quarter valued at $59,000.

Baidu Price Performance

Shares of NASDAQ:BIDU opened at $113.30 on Friday. The company has a market capitalization of $38.55 billion, a P/E ratio of -944.09, a price-to-earnings-growth ratio of 1.93 and a beta of 0.56. The company’s 50-day moving average is $125.14 and its 200 day moving average is $128.82. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.85 and a current ratio of 1.85. Baidu, Inc. has a fifty-two week low of $84.64 and a fifty-two week high of $165.30.

Analyst Upgrades and Downgrades

BIDU has been the topic of several research analyst reports. Morgan Stanley upped 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 note on Monday, May 25th. Susquehanna boosted their price target on Baidu from $120.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, May 20th. Citigroup reaffirmed a “buy” rating on shares of Baidu in a research report on Tuesday, June 23rd. Finally, Nomura boosted their target price on shares of Baidu from $186.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, May 20th. One investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $162.58.

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.