Sei Investments Co. Increases Position in Baidu, Inc. $BIDU

Key Points

• Sei Investments increased its Baidu stake by 13.1% in the first quarter, acquiring 32,955 additional shares for a total of 285,068 shares valued at approximately $31.8 million.
• Baidu shares opened at $105.29, below their 50-day and 200-day moving averages, and remain well below the one-year high of $165.30.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $165.33, although several firms recently lowered their targets and Weiss Ratings downgraded the stock to “sell.”

Sei Investments Co. lifted its stake in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 13.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 285,068 shares of the information services provider's stock after acquiring an additional 32,955 shares during the period. Sei Investments Co. owned 0.08% of Baidu worth $31,762,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BIDU. Signature Equity Partners LLC bought a new position in Baidu in the first quarter worth about $25,000. Binnacle Investments Inc purchased a new stake in shares of Baidu during the second quarter valued at about $29,000. Sankala Group LLC bought a new stake in shares of Baidu in the 4th quarter valued at about $46,000. Brown Brothers Harriman & Co. boosted its holdings in shares of Baidu by 35.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 405 shares of the information services provider's stock valued at $53,000 after buying an additional 105 shares in the last quarter. Finally, UMB Bank n.a. grew its position in shares of Baidu by 25.9% in the 4th quarter. UMB Bank n.a. now owns 428 shares of the information services provider's stock worth $56,000 after buying an additional 88 shares during the last quarter.

Baidu Stock Performance

Shares of BIDU opened at $105.29 on Tuesday. The stock has a 50-day moving average of $117.65 and a two-hundred day moving average of $126.82. Baidu, Inc. has a one year low of $84.64 and a one year high of $165.30. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.85 and a current ratio of 1.85. The stock has a market cap of $35.82 billion, a P/E ratio of -877.34, a P/E/G ratio of 2.28 and a beta of 0.56.

Analyst Ratings Changes

Several research analysts recently commented on BIDU shares. Barclays reduced their price objective on shares of Baidu from $128.00 to $124.00 and set an "equal weight" rating for the company in a research note on Monday, July 13th. Bank of America cut their price target on shares of Baidu from $180.00 to $165.00 and set a "buy" rating on the stock in a report on Tuesday, July 14th. Benchmark reaffirmed a "buy" rating and set a $215.00 price target on shares of Baidu in a research report on Tuesday, May 19th. JPMorgan Chase & Co. decreased their price objective on Baidu from $230.00 to $205.00 and set an "overweight" rating for the company in a report on Friday, July 17th. Finally, Weiss Ratings cut Baidu from a "hold (c-)" rating to a "sell (d)" rating in a research report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Baidu presently has a consensus rating of "Moderate Buy" and a consensus target price of $165.33.

Baidu Profile

Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China's leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.

Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.

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