Pinpoint Asset Management Singapore Pte. Ltd. Makes New $1.17 Million Investment in Baidu, Inc. $BIDU

Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in shares of Baidu, Inc. (NASDAQ:BIDU) during the fourth quarter, Holdings Channel reports. The firm purchased 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 holding.

A number of other hedge funds also recently bought and sold shares of BIDU. Empowered Funds LLC purchased a new position in Baidu during the first quarter worth approximately $334,000. EverSource Wealth Advisors LLC boosted its position in Baidu by 71.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,182 shares of the information services provider’s stock worth $101,000 after purchasing an additional 493 shares in the last quarter. Guggenheim Capital LLC boosted its position in Baidu by 53.3% during the second quarter. Guggenheim Capital LLC now owns 9,670 shares of the information services provider’s stock worth $829,000 after purchasing an additional 3,362 shares in the last quarter. First Trust Advisors LP boosted its position in Baidu by 2.6% during the second quarter. First Trust Advisors LP now owns 50,033 shares of the information services provider’s stock worth $4,291,000 after purchasing an additional 1,259 shares in the last quarter. Finally, Flow Traders U.S. LLC purchased a new position in Baidu during the second quarter worth approximately $254,000.

Baidu Stock Performance

NASDAQ BIDU opened at $115.77 on Friday. The company has a market cap of $39.39 billion, a PE ratio of -964.67, a price-to-earnings-growth ratio of 1.98 and a beta of 0.54. The stock’s 50 day simple moving average is $126.68 and its 200-day simple moving average is $129.85. Baidu, Inc. has a 1-year low of $83.30 and a 1-year high of $165.30. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.85 and a quick ratio of 1.85.

Analysts Set New Price Targets

BIDU has been the topic of a number of recent analyst reports. Barclays lowered their price target on Baidu from $147.00 to $128.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 5th. Zacks Research downgraded Baidu from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 16th. Benchmark restated a “buy” rating and issued a $215.00 target price on shares of Baidu in a research report on Tuesday, May 19th. Wall Street Zen upgraded Baidu from a “sell” rating to a “hold” rating in a research report on Monday, May 25th. Finally, Zephirin Group raised their target price on Baidu from $88.00 to $89.00 and gave the company a “sell” rating in a research report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Baidu has a consensus rating of “Moderate Buy” and an average target price of $162.58.

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.