Nordea Investment Management AB Has $38.63 Million Stock Position in Baidu, Inc. $BIDU

Nordea Investment Management AB lowered its holdings in shares of Baidu, Inc. (NASDAQ:BIDU) by 7.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 290,083 shares of the information services provider’s stock after selling 23,554 shares during the period. Nordea Investment Management AB’s holdings in Baidu were worth $38,633,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Binnacle Investments Inc acquired a new stake in Baidu in the second quarter valued at $29,000. Winthrop Capital Management LLC bought a new stake in shares of Baidu in the 2nd quarter valued at about $39,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Baidu in the 2nd quarter valued at about $43,000. CX Institutional increased its stake in shares of Baidu by 34.1% in the second quarter. CX Institutional now owns 715 shares of the information services provider’s stock valued at $61,000 after buying an additional 182 shares during the period. Finally, Assetmark Inc. raised its position in shares of Baidu by 127.6% during the second quarter. Assetmark Inc. now owns 742 shares of the information services provider’s stock worth $64,000 after acquiring an additional 416 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Daiwa Capital Markets set a $160.00 price objective on Baidu and gave the stock a “buy” rating in a research note on Tuesday, October 14th. Nomura Securities upgraded shares of Baidu from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 19th. Morgan Stanley reduced their price objective on shares of Baidu from $140.00 to $130.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 19th. JPMorgan Chase & Co. upgraded Baidu from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $110.00 to $188.00 in a report on Monday, November 24th. Finally, Jefferies Financial Group boosted their price target on Baidu from $159.00 to $181.00 and gave the company a “buy” rating in a research note on Friday, January 2nd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Baidu currently has an average rating of “Moderate Buy” and a consensus target price of $151.06.

Baidu Price Performance

Shares of BIDU opened at $150.50 on Thursday. Baidu, Inc. has a 12-month low of $74.71 and a 12-month high of $154.29. The business’s fifty day moving average is $126.89 and its 200 day moving average is $113.64. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.23. The stock has a market cap of $51.99 billion, a P/E ratio of 50.00 and a beta of 0.30.

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.