Panagora Asset Management Inc. Purchases 481 Shares of Baidu, Inc. (NASDAQ:BIDU)

Panagora Asset Management Inc. boosted its holdings in Baidu, Inc. (NASDAQ:BIDU) by 9.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,751 shares of the information services provider’s stock after buying an additional 481 shares during the quarter. Panagora Asset Management Inc.’s holdings in Baidu were worth $685,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Nordea Investment Management AB boosted its stake in Baidu by 7.0% in the fourth quarter. Nordea Investment Management AB now owns 347,788 shares of the information services provider’s stock valued at $41,429,000 after buying an additional 22,797 shares in the last quarter. ANTIPODES PARTNERS Ltd boosted its stake in shares of Baidu by 8.8% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,438,716 shares of the information services provider’s stock valued at $171,336,000 after purchasing an additional 116,047 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Baidu by 54.5% during the fourth quarter. Jennison Associates LLC now owns 85,306 shares of the information services provider’s stock valued at $10,159,000 after purchasing an additional 30,103 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Baidu by 1.2% during the third quarter. Northern Trust Corp now owns 179,688 shares of the information services provider’s stock valued at $24,141,000 after purchasing an additional 2,202 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its stake in shares of Baidu by 20.0% during the fourth quarter. New York State Common Retirement Fund now owns 58,877 shares of the information services provider’s stock valued at $7,012,000 after purchasing an additional 9,800 shares in the last quarter.

Wall Street Analysts Forecast Growth

BIDU has been the topic of a number of recent research reports. Benchmark reissued a “buy” rating and set a $180.00 price target on shares of Baidu in a research note on Friday, May 17th. Macquarie lowered Baidu from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 17th. HSBC cut their price objective on Baidu from $157.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, April 24th. Morgan Stanley lowered Baidu from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $140.00 to $125.00 in a research note on Friday, May 17th. Finally, Barclays cut their price objective on Baidu from $138.00 to $133.00 and set an “overweight” rating on the stock in a research note on Thursday, February 29th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.00.

Baidu Trading Down 1.0 %

NASDAQ BIDU opened at $101.43 on Friday. The company has a market cap of $35.57 billion, a price-to-earnings ratio of 13.58 and a beta of 0.68. Baidu, Inc. has a 52 week low of $94.25 and a 52 week high of $156.98. The business has a 50 day moving average price of $104.62 and a 200-day moving average price of $108.17. The company has a quick ratio of 3.01, a current ratio of 2.79 and a debt-to-equity ratio of 0.25.

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.