SRN Advisors LLC Sells 11,356 Shares of Baidu, Inc. $BIDU

Key Points

• SRN Advisors LLC significantly reduced its stake in Baidu, Inc. by 71.9%, owning 4,444 shares valued at $409,000 after selling 11,356 shares in Q1.
• A notable increase in holdings was made by Mirae Asset Global Investments, which raised its position by 1,377.5% and now owns 5,324,728 shares worth approximately $490 million.
• Baidu's stock has risen 4.8% recently, with an average price target among analysts of $102.75, indicating a mixed outlook with five "Buy" ratings and eleven "Hold" ratings.

SRN Advisors LLC lowered its stake in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 71.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,444 shares of the information services provider's stock after selling 11,356 shares during the period. SRN Advisors LLC's holdings in Baidu were worth $409,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Baidu by 1,377.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,324,728 shares of the information services provider's stock worth $490,035,000 after acquiring an additional 4,964,350 shares in the last quarter. RPD Fund Management LLC purchased a new position in shares of Baidu in the 4th quarter worth about $72,245,000. Massachusetts Financial Services Co. MA grew its position in Baidu by 319.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 807,322 shares of the information services provider's stock valued at $74,298,000 after purchasing an additional 615,061 shares during the last quarter. Cantor Fitzgerald L. P. increased its stake in Baidu by 1,510.9% during the 4th quarter. Cantor Fitzgerald L. P. now owns 399,975 shares of the information services provider's stock valued at $33,722,000 after purchasing an additional 375,145 shares in the last quarter. Finally, Triata Capital Ltd increased its stake in Baidu by 193.9% during the 1st quarter. Triata Capital Ltd now owns 568,432 shares of the information services provider's stock valued at $52,313,000 after purchasing an additional 375,007 shares in the last quarter.

Analysts Set New Price Targets

BIDU has been the topic of several analyst reports. Macquarie reiterated a "neutral" rating on shares of Baidu in a research note on Wednesday, May 21st. Barclays decreased their price objective on shares of Baidu from $84.00 to $81.00 and set an "equal weight" rating for the company in a report on Friday, July 18th. Citigroup increased their target price on Baidu from $138.00 to $140.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Benchmark reduced their target price on Baidu from $120.00 to $115.00 and set a "buy" rating for the company in a report on Thursday, August 21st. Finally, Susquehanna boosted their price target on Baidu from $85.00 to $95.00 and gave the stock a "neutral" rating in a research note on Tuesday. Five investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $104.00.

Baidu Stock Performance

BIDU stock traded up $0.99 on Tuesday, hitting $96.29. The company had a trading volume of 7,124,721 shares, compared to its average volume of 4,451,104. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.19. Baidu, Inc. has a 12-month low of $74.71 and a 12-month high of $116.25. The stock has a market cap of $33.26 billion, a price-to-earnings ratio of 8.87 and a beta of 0.34. The stock's 50-day simple moving average is $88.83 and its 200 day simple moving average is $88.44.

Baidu 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.