Corecam AG Buys Shares of 17,460 Baidu, Inc. $BIDU

Corecam AG bought a new position in Baidu, Inc. (NASDAQ:BIDU) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 17,460 shares of the information services provider’s stock, valued at approximately $1,945,000. Baidu accounts for 1.7% of Corecam AG’s investment portfolio, making the stock its 19th largest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Schroder Investment Management Group bought a new stake in shares of Baidu in the 3rd quarter valued at $165,334,000. RPD Fund Management LLC lifted its holdings in Baidu by 161.6% during the second quarter. RPD Fund Management LLC now owns 1,258,856 shares of the information services provider’s stock worth $107,959,000 after acquiring an additional 777,570 shares in the last quarter. Morgan Stanley lifted its holdings in Baidu by 38.0% during the fourth 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. Contrarius Group Holdings Ltd grew its stake in Baidu by 500.3% in the third quarter. Contrarius Group Holdings Ltd now owns 891,749 shares of the information services provider’s stock valued at $117,506,000 after acquiring an additional 743,205 shares during the period. Finally, ARK Investment Management LLC increased its holdings in shares of Baidu by 127.8% in the fourth quarter. ARK Investment Management LLC now owns 1,157,878 shares of the information services provider’s stock worth $151,288,000 after acquiring an additional 649,490 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on BIDU shares. BNP Paribas Exane initiated coverage on Baidu in a research report on Wednesday, April 1st. They set an “outperform” rating and a $161.00 price target on the stock. Citigroup reiterated a “buy” rating on shares of Baidu in a research report on Tuesday. Zacks Research raised Baidu from a “strong sell” rating to a “hold” rating in a research note on Monday, June 15th. Morgan Stanley raised their target price on shares of Baidu from $135.00 to $140.00 in a report on Tuesday, May 19th. Finally, Susquehanna lifted their price target on shares of Baidu from $120.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, May 20th. One 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $162.58.

Baidu Stock Performance

BIDU opened at $103.99 on Friday. The company has a market capitalization of $35.38 billion, a price-to-earnings ratio of -866.51, a P/E/G ratio of 1.84 and a beta of 0.54. The business’s 50-day moving average price is $126.57 and its two-hundred day moving average price is $129.43. Baidu, Inc. has a 1 year low of $84.64 and a 1 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.

Baidu Company 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.