Envestnet Asset Management Inc. reduced its stake in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 88.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,023 shares of the information services provider's stock after selling 108,675 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Baidu were worth $1,182,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. SG Americas Securities LLC boosted its stake in Baidu by 147.5% during the 4th quarter. SG Americas Securities LLC now owns 381,456 shares of the information services provider's stock worth $32,161,000 after acquiring an additional 227,338 shares during the last quarter. World Investment Advisors LLC bought a new position in Baidu in the third quarter valued at approximately $72,000. Union Bancaire Privee UBP SA bought a new position in Baidu in the fourth quarter valued at approximately $558,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Baidu by 1,111.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 360,378 shares of the information services provider's stock valued at $30,317,000 after buying an additional 330,627 shares in the last quarter. Finally, Ping Capital Management Inc. lifted its stake in Baidu by 300.0% in the fourth quarter. Ping Capital Management Inc. now owns 10,000 shares of the information services provider's stock valued at $843,000 after buying an additional 7,500 shares in the last quarter.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on BIDU shares. Benchmark reaffirmed a "buy" rating and issued a $130.00 price target on shares of Baidu in a research note on Wednesday, February 19th. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Baidu in a research note on Saturday, March 8th. Nomura downgraded shares of Baidu from a "buy" rating to a "neutral" rating in a report on Wednesday, February 19th. Barclays lowered their price objective on shares of Baidu from $95.00 to $90.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. Finally, Mizuho lifted their price objective on shares of Baidu from $95.00 to $105.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $110.83.
Check Out Our Latest Stock Report on Baidu
Baidu Price Performance
Shares of BIDU opened at $87.82 on Thursday. The company has a market cap of $30.34 billion, a price-to-earnings ratio of 9.58, a PEG ratio of 2.96 and a beta of 0.33. Baidu, Inc. has a 1-year low of $74.71 and a 1-year high of $116.25. The company's fifty day simple moving average is $89.13 and its 200 day simple moving average is $88.30. The company has a current ratio of 2.09, a quick ratio of 2.19 and a debt-to-equity ratio of 0.19.
Baidu Profile
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Free Report)
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.
See Also
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