Assenagon Asset Management S.A. Makes New $2.20 Million Investment in Baidu, Inc. (NASDAQ:BIDU)

Assenagon Asset Management S.A. bought a new stake in Baidu, Inc. (NASDAQ:BIDU) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 26,123 shares of the information services provider’s stock, valued at approximately $2,202,000.

Several other large investors have also made changes to their positions in the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Baidu in the third quarter valued at about $1,054,000. Fred Alger Management LLC acquired a new position in shares of Baidu in the 3rd quarter worth approximately $790,000. World Investment Advisors LLC acquired a new position in shares of Baidu in the 3rd quarter worth approximately $72,000. Handelsbanken Fonder AB increased its holdings in Baidu by 8.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 182,817 shares of the information services provider’s stock valued at $19,249,000 after purchasing an additional 15,000 shares in the last quarter. Finally, Maple Rock Capital Partners Inc. bought a new position in Baidu in the 3rd quarter valued at $42,748,000.

Analyst Ratings Changes

A number of analysts have recently weighed in on BIDU shares. JPMorgan Chase & Co. lowered Baidu from an “overweight” rating to a “neutral” rating in a research note on Wednesday, November 27th. Citigroup dropped their target price on shares of Baidu from $142.00 to $141.00 and set a “buy” rating for the company in a research note on Friday, November 29th. Dbs Bank cut shares of Baidu from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Mizuho dropped their price objective on shares of Baidu from $130.00 to $115.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Finally, StockNews.com upgraded Baidu from a “hold” rating to a “buy” rating in a research report on Friday, December 27th. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Baidu has an average rating of “Hold” and an average target price of $113.75.

Baidu Price Performance

Shares of BIDU opened at $83.00 on Thursday. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.18. The stock has a market cap of $29.10 billion, a P/E ratio of 10.16, a price-to-earnings-growth ratio of 1.90 and a beta of 0.46. The stock’s 50-day moving average price is $84.98 and its two-hundred day moving average price is $88.93. Baidu, Inc. has a 1 year low of $77.19 and a 1 year high of $116.25.

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.