Glaxis Capital Management LLC bought a new stake in Baidu, Inc. (NASDAQ:BIDU - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,000 shares of the information services provider's stock, valued at approximately $460,000. Baidu accounts for 1.8% of Glaxis Capital Management LLC's portfolio, making the stock its 14th biggest position.
Other institutional investors also recently modified their holdings of the company. Ignite Planners LLC raised its stake in Baidu by 12.3% in the first quarter. Ignite Planners LLC now owns 6,231 shares of the information services provider's stock valued at $548,000 after purchasing an additional 682 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in Baidu by 25.0% in the 1st quarter. Allianz Asset Management GmbH now owns 56,270 shares of the information services provider's stock valued at $5,179,000 after buying an additional 11,270 shares during the period. Kestra Private Wealth Services LLC raised its position in shares of Baidu by 39.6% in the 1st quarter. Kestra Private Wealth Services LLC now owns 7,097 shares of the information services provider's stock valued at $653,000 after buying an additional 2,013 shares in the last quarter. Private Advisor Group LLC raised its position in shares of Baidu by 29.5% in the 1st quarter. Private Advisor Group LLC now owns 7,028 shares of the information services provider's stock valued at $647,000 after buying an additional 1,603 shares in the last quarter. Finally, Ping Capital Management Inc. lifted its holdings in shares of Baidu by 42.0% during the 1st quarter. Ping Capital Management Inc. now owns 14,200 shares of the information services provider's stock worth $1,307,000 after acquiring an additional 4,200 shares during the period.
Baidu Trading Down 2.2%
Shares of NASDAQ:BIDU traded down $2.09 during midday trading on Thursday, hitting $90.99. 3,919,045 shares of the stock were exchanged, compared to its average volume of 3,962,534. The business's 50-day moving average price is $86.73 and its 200 day moving average price is $87.94. The stock has a market capitalization of $31.43 billion, a price-to-earnings ratio of 9.03 and a beta of 0.33. Baidu, Inc. has a 12 month low of $74.71 and a 12 month high of $116.25. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.29 and a current ratio of 2.29.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on the stock. Barclays decreased their price objective on shares of Baidu from $84.00 to $81.00 and set an "equal weight" rating on the stock in a research note on Friday, July 18th. Benchmark decreased their price target on Baidu from $130.00 to $120.00 and set a "buy" rating on the stock in a research note on Thursday, May 22nd. Jefferies Financial Group dropped their price objective on Baidu from $120.00 to $110.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Citigroup raised their price objective on Baidu from $138.00 to $140.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Finally, Macquarie reissued a "neutral" rating on shares of Baidu in a research note on Wednesday, May 21st. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $105.09.
Read Our Latest Research Report on BIDU
Baidu Profile
(
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.
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