Amova Asset Management Americas Inc. Sells 99,861 Shares of Baidu, Inc. $BIDU

Amova Asset Management Americas Inc. trimmed its holdings in shares of Baidu, Inc. (NASDAQ:BIDU) by 15.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 567,778 shares of the information services provider’s stock after selling 99,861 shares during the quarter. Amova Asset Management Americas Inc.’s holdings in Baidu were worth $63,262,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Morgan Stanley boosted its stake in shares of Baidu by 38.0% during the 4th quarter. Morgan Stanley now owns 2,709,426 shares of the information services provider’s stock worth $354,014,000 after acquiring an additional 745,588 shares in the last quarter. 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 acquiring an additional 777,570 shares in the last quarter. Capital World Investors raised its stake in shares of Baidu by 21.0% in the 4th quarter. Capital World Investors now owns 1,182,857 shares of the information services provider’s stock valued at $154,552,000 after acquiring an additional 205,040 shares in the last quarter. ARK Investment Management LLC lifted its holdings in 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 worth $151,288,000 after purchasing an additional 649,490 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in Baidu by 106.7% in the 3rd quarter. Bank of America Corp DE now owns 1,129,272 shares of the information services provider’s stock worth $148,804,000 after purchasing an additional 582,832 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Benchmark reiterated a “buy” rating and set a $215.00 price target on shares of Baidu in a report on Tuesday, May 19th. Citigroup reiterated a “buy” rating on shares of Baidu in a research note on Tuesday, June 23rd. Wall Street Zen upgraded shares of Baidu from a “sell” rating to a “hold” rating in a report on Monday, May 25th. BNP Paribas Exane initiated coverage on shares of Baidu in a report on Wednesday, April 1st. They set an “outperform” rating and a $161.00 price target for the company. Finally, Nomura raised their price target on 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 given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Baidu currently has an average rating of “Moderate Buy” and an average price target of $165.33.

Baidu Stock Up 2.4%

Shares of BIDU stock opened at $109.81 on Tuesday. Baidu, Inc. has a one year low of $84.64 and a one year high of $165.30. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.85 and a quick ratio of 1.85. The stock has a fifty day moving average price of $121.11 and a 200 day moving average price of $128.05. The stock has a market cap of $37.36 billion, a P/E ratio of -915.01, a price-to-earnings-growth ratio of 1.94 and a beta of 0.56.

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.