Penserra Capital Management LLC grew its position in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 41.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 182,966 shares of the information services provider's stock after purchasing an additional 53,219 shares during the period. Penserra Capital Management LLC owned approximately 0.05% of Baidu worth $16,838,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in BIDU. US Bancorp DE grew its position in Baidu by 7.2% in the fourth quarter. US Bancorp DE now owns 4,036 shares of the information services provider's stock worth $340,000 after acquiring an additional 270 shares in the last quarter. Jones Financial Companies Lllp grew its position in Baidu by 31.7% in the fourth quarter. Jones Financial Companies Lllp now owns 4,159 shares of the information services provider's stock worth $351,000 after acquiring an additional 1,002 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Baidu in the fourth quarter worth $3,497,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Baidu in the fourth quarter worth $256,000. Finally, Generali Investments CEE investicni spolecnost a.s. purchased a new position in Baidu in the fourth quarter worth $961,000.
Analysts Set New Price Targets
Several research analysts recently issued reports on BIDU shares. Barclays set a $84.00 target price on shares of Baidu and gave the stock an "equal weight" rating in a research report on Thursday, May 22nd. Benchmark cut their target price on shares of Baidu from $130.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, May 22nd. Citigroup cut their target price on shares of Baidu from $139.00 to $138.00 and set a "buy" rating for the company in a research report on Thursday, May 22nd. Macquarie reissued a "neutral" rating on shares of Baidu in a research note on Wednesday, May 21st. Finally, Sanford C. Bernstein reissued a "market perform" rating on shares of Baidu in a research note on Saturday, March 8th. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Baidu currently has an average rating of "Hold" and a consensus price target of $107.82.
Check Out Our Latest Research Report on BIDU
Baidu Trading Down 0.1%
Shares of NASDAQ:BIDU traded down $0.08 during midday trading on Friday, hitting $86.37. 1,167,623 shares of the stock traded hands, compared to its average volume of 4,097,154. The stock has a market capitalization of $29.83 billion, a PE ratio of 8.57 and a beta of 0.33. The business's 50 day moving average is $86.77 and its two-hundred day moving average is $87.60. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.27. Baidu, Inc. has a one year low of $74.71 and a one year high of $116.25.
About Baidu
(
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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