Vident Advisory LLC Has $369,000 Position in Baidu, Inc. $BIDU

Key Points

• Vident Advisory LLC reduced its holdings in Baidu, Inc. by 61.7%, owning 4,010 shares valued at $369,000 after selling 6,456 shares in the first quarter.
• Several analysts have adjusted their ratings and price targets for Baidu, with Benchmark lowering its target from $120.00 to $115.00 and Wall Street Zen changing its rating from "hold" to "sell."
• Baidu's current market capitalization stands at $37.53 billion, with a price-to-earnings ratio of 10.01 and a 12-month high of $116.25.

Vident Advisory LLC trimmed its holdings in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 61.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 4,010 shares of the information services provider's stock after selling 6,456 shares during the period. Vident Advisory LLC's holdings in Baidu were worth $369,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Creekmur Asset Management LLC purchased a new position in shares of Baidu during the first quarter valued at approximately $29,000. Assetmark Inc. grew its position in Baidu by 143.3% in the 1st quarter. Assetmark Inc. now owns 326 shares of the information services provider's stock worth $30,000 after purchasing an additional 192 shares during the period. UMB Bank n.a. grew its position in Baidu by 80.3% in the 1st quarter. UMB Bank n.a. now owns 402 shares of the information services provider's stock worth $37,000 after purchasing an additional 179 shares during the period. CX Institutional purchased a new stake in shares of Baidu in the 1st quarter worth $49,000. Finally, Silver Oak Securities Incorporated purchased a new stake in shares of Baidu in the 1st quarter worth $97,000.

Baidu Stock Up 2.5%

Shares of NASDAQ BIDU traded up $2.75 during mid-day trading on Friday, reaching $114.57. The company had a trading volume of 7,802,908 shares, compared to its average volume of 4,565,615. The stock has a fifty day moving average of $91.42 and a two-hundred day moving average of $89.13. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.85 and a current ratio of 1.85. The company has a market capitalization of $39.58 billion, a price-to-earnings ratio of 10.56 and a beta of 0.34. Baidu, Inc. has a 12-month low of $74.71 and a 12-month high of $116.91.

Analyst Ratings Changes

Several brokerages recently weighed in on BIDU. Wall Street Zen downgraded shares of Baidu from a "hold" rating to a "sell" rating in a report on Friday, August 22nd. Macquarie reissued a "neutral" rating on shares of Baidu in a research report on Wednesday, May 21st. Susquehanna raised their target price on shares of Baidu from $85.00 to $95.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 2nd. Benchmark dropped their price objective on shares of Baidu from $120.00 to $115.00 and set a "buy" rating on the stock in a research note on Thursday, August 21st. Finally, Citigroup raised their target price on shares of Baidu from $138.00 to $140.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Five analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $104.00.

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.