DekaBank Deutsche Girozentrale Grows Position in Baidu, Inc. (NASDAQ:BIDU)

DekaBank Deutsche Girozentrale lifted its stake in Baidu, Inc. (NASDAQ:BIDU) by 103.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 582,475 shares of the information services provider’s stock after buying an additional 295,700 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.17% of Baidu worth $51,192,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Crewe Advisors LLC purchased a new position in shares of Baidu in the first quarter worth $31,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Baidu in the first quarter worth $32,000. Silicon Valley Capital Partners purchased a new position in shares of Baidu in the first quarter worth $53,000. Accent Capital Management LLC purchased a new stake in Baidu during the fourth quarter valued at $66,000. Finally, iA Global Asset Management Inc. purchased a new stake in Baidu during the second quarter valued at $52,000.

Analysts Set New Price Targets

BIDU has been the topic of a number of recent research reports. StockNews.com downgraded shares of Baidu from a “buy” rating to a “hold” rating in a research note on Tuesday, July 16th. Loop Capital decreased their price target on shares of Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Bank of America decreased their price target on shares of Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a research note on Friday, August 23rd. Citigroup decreased their price target on shares of Baidu from $170.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Finally, Jefferies Financial Group decreased their price target on shares of Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $135.13.

Baidu Trading Down 0.5 %

BIDU stock opened at $83.65 on Friday. The company has a market capitalization of $29.33 billion, a PE ratio of 11.20 and a beta of 0.48. Baidu, Inc. has a 12 month low of $79.68 and a 12 month high of $139.32. The firm’s 50-day moving average is $87.35 and its 200 day moving average is $95.91. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.32 and a quick ratio of 2.32.

Baidu Company Profile

Baidu, Inc engages in the provision of internet search services in China. It operates through two segments: Baidu Core and iQIYI. The company offers Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Baidu Health that helps users to find the doctor and hospital for healthcare needs; and Haokan, a short video app.