Blueshift Asset Management LLC Trims Stock Holdings in Baidu, Inc. (NASDAQ:BIDU)

Blueshift Asset Management LLC decreased its position in Baidu, Inc. (NASDAQ:BIDU) by 88.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,739 shares of the information services provider’s stock after selling 20,550 shares during the period. Blueshift Asset Management LLC’s holdings in Baidu were worth $558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Exchange Traded Concepts LLC raised its stake in Baidu by 13.7% in the 2nd quarter. Exchange Traded Concepts LLC now owns 10,460 shares of the information services provider’s stock worth $2,133,000 after acquiring an additional 1,264 shares during the last quarter. Tudor Investment Corp Et Al purchased a new position in shares of Baidu during the 1st quarter valued at about $281,000. Newport Asia LLC raised its stake in shares of Baidu by 140.9% during the 2nd quarter. Newport Asia LLC now owns 168,900 shares of the information services provider’s stock valued at $34,438,000 after buying an additional 98,800 shares during the last quarter. Dai Ichi Life Insurance Company Ltd raised its stake in shares of Baidu by 6.3% during the 1st quarter. Dai Ichi Life Insurance Company Ltd now owns 18,500 shares of the information services provider’s stock valued at $4,025,000 after buying an additional 1,100 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. raised its stake in shares of Baidu by 3.2% during the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 68,563 shares of the information services provider’s stock valued at $13,979,000 after buying an additional 2,111 shares during the last quarter. Institutional investors own 46.17% of the company’s stock.

BIDU has been the subject of a number of recent research reports. Zacks Investment Research upgraded Baidu from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Susquehanna cut their price target on Baidu from $250.00 to $200.00 and set a “positive” rating for the company in a research note on Wednesday, August 18th. Oppenheimer cut their price target on Baidu from $355.00 to $320.00 and set an “outperform” rating for the company in a research note on Friday, August 13th. Benchmark cut their price target on Baidu from $370.00 to $357.00 and set a “buy” rating for the company in a research note on Friday, August 13th. Finally, Citigroup cut their price target on Baidu from $283.00 to $264.00 and set a “buy” rating for the company in a research note on Friday, August 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, Baidu presently has a consensus rating of “Buy” and a consensus target price of $286.00.

Shares of Baidu stock opened at $163.85 on Thursday. The stock has a market cap of $54.99 billion, a P/E ratio of 8.55, a P/E/G ratio of 15.26 and a beta of 1.01. The stock’s 50 day simple moving average is $156.82 and its 200-day simple moving average is $181.36. Baidu, Inc. has a 1-year low of $127.35 and a 1-year high of $354.82. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.09 and a quick ratio of 3.09.

Baidu Company Profile

Baidu, Inc engages in the provision of internet search and online marketing solutions. The firm’s products and services include Baidu App, Baidu Search, Baidu Feed, Haokan, Quanmin, Baidu Post Bar, Baidu Knows, Baidu Encyclopedia, Baidu Input Method Editor or Baidu IME and Overseas Products. It operates through the following segments: Baidu Core and iQIYI.

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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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