26,911 Shares in Baidu, Inc. $BIDU Purchased by Niles Investment Management LLC

Niles Investment Management LLC purchased a new position in shares of Baidu, Inc. (NASDAQ:BIDU) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 26,911 shares of the information services provider’s stock, valued at approximately $3,516,000. Baidu accounts for 2.7% of Niles Investment Management LLC’s holdings, making the stock its 13th largest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of BIDU. Schroder Investment Management Group bought a new position in Baidu during the third quarter worth about $165,334,000. RPD Fund Management LLC raised its position 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 valued at $107,959,000 after purchasing an additional 777,570 shares in the last quarter. Morgan Stanley raised its position in Baidu by 38.0% during the fourth quarter. Morgan Stanley now owns 2,709,426 shares of the information services provider’s stock valued at $354,014,000 after purchasing an additional 745,588 shares in the last quarter. Contrarius Group Holdings Ltd raised its position in Baidu by 500.3% during 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 purchasing an additional 743,205 shares in the last quarter. Finally, ARK Investment Management LLC raised its position in Baidu by 127.8% during the fourth quarter. ARK Investment Management LLC now owns 1,157,878 shares of the information services provider’s stock valued at $151,288,000 after purchasing an additional 649,490 shares in the last quarter.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Zacks Research downgraded shares of Baidu from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 16th. Morgan Stanley boosted their price objective on shares of Baidu from $135.00 to $140.00 in a research report on Tuesday, May 19th. Zephirin Group boosted their price objective on shares of Baidu from $88.00 to $89.00 and gave the company a “sell” rating in a research report on Monday, March 2nd. Benchmark restated a “buy” rating and set a $215.00 price objective on shares of Baidu in a research report on Tuesday, May 19th. Finally, Susquehanna boosted their price objective 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. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.58.

Baidu Stock Performance

NASDAQ BIDU opened at $115.77 on Friday. The firm’s fifty day moving average price is $126.68 and its two-hundred day moving average price is $129.85. The stock has a market cap of $39.39 billion, a PE ratio of -964.67, a PEG ratio of 1.98 and a beta of 0.54. Baidu, Inc. has a fifty-two week low of $83.30 and a fifty-two week high of $165.30. 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 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.