Pinpoint Asset Management Singapore Pte. Ltd. Takes $1.17 Million Position in Baidu, Inc. $BIDU

Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in Baidu, Inc. (NASDAQ:BIDU) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,983 shares of the information services provider’s stock, valued at approximately $1,174,000. Baidu accounts for approximately 0.2% of Pinpoint Asset Management Singapore Pte. Ltd.’s investment portfolio, making the stock its 29th largest position.

Other hedge funds have also modified their holdings of the company. Central Asset Investments & Management Holdings HK Ltd acquired a new position in shares of Baidu in the fourth quarter valued at about $2,626,000. Yarbrough Capital LLC purchased a new stake in shares of Baidu in the fourth quarter worth about $1,697,000. Earnest Partners LLC boosted its stake in shares of Baidu by 21.9% in the third quarter. Earnest Partners LLC now owns 818,930 shares of the information services provider’s stock worth $107,910,000 after buying an additional 146,992 shares during the last quarter. ARK Investment Management LLC boosted its stake in shares of Baidu by 72.7% in the third quarter. ARK Investment Management LLC now owns 508,388 shares of the information services provider’s stock worth $66,990,000 after buying an additional 213,941 shares during the last quarter. Finally, TT International Asset Management LTD purchased a new stake in shares of Baidu in the fourth quarter worth about $33,727,000.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on BIDU shares. Benchmark restated a “buy” rating and issued a $215.00 target price on shares of Baidu in a research note on Tuesday, May 19th. Morgan Stanley upped their target price on Baidu from $135.00 to $140.00 in a research note on Tuesday, May 19th. Susquehanna upped their target price on Baidu from $120.00 to $140.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 20th. Weiss Ratings downgraded Baidu from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 18th. Finally, Barclays lowered their target price on Baidu from $147.00 to $128.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Baidu has an average rating of “Moderate Buy” and a consensus target price of $162.58.

Baidu Stock Performance

Shares of BIDU stock opened at $115.77 on Friday. The company has a market capitalization of $39.39 billion, a P/E ratio of -964.67, a P/E/G ratio of 1.98 and a beta of 0.54. The business’s 50 day moving average is $126.68 and its two-hundred day moving average is $129.85. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.22. Baidu, Inc. has a 12-month low of $83.30 and a 12-month high of $165.30.

About Baidu

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.