18,033 Shares in Baidu, Inc. (NASDAQ:BIDU) Acquired by Erste Asset Management GmbH

Erste Asset Management GmbH acquired a new position in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 18,033 shares of the information services provider's stock, valued at approximately $1,897,000.

Several other hedge funds have also bought and sold shares of BIDU. iA Global Asset Management Inc. bought a new position in shares of Baidu in the second quarter worth about $52,000. Allspring Global Investments Holdings LLC raised its stake in shares of Baidu by 630.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider's stock worth $72,000 after buying an additional 593 shares during the period. Grove Bank & Trust raised its stake in shares of Baidu by 21.6% in the third quarter. Grove Bank & Trust now owns 731 shares of the information services provider's stock worth $77,000 after buying an additional 130 shares during the period. Denver PWM LLC bought a new position in shares of Baidu in the second quarter worth about $67,000. Finally, Transamerica Financial Advisors Inc. purchased a new stake in shares of Baidu during the third quarter worth about $82,000.

Baidu Stock Down 1.5 %

Shares of BIDU traded down $1.30 during mid-day trading on Wednesday, hitting $84.68. 2,071,695 shares of the company traded hands, compared to its average volume of 3,612,667. Baidu, Inc. has a 1-year low of $78.95 and a 1-year high of $120.25. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $29.69 billion, a PE ratio of 10.36, a price-to-earnings-growth ratio of 1.14 and a beta of 0.46. The business has a 50 day moving average of $93.17 and a 200 day moving average of $91.09.

Analyst Upgrades and Downgrades

BIDU has been the topic of several research analyst reports. Bank of America lowered their target price on shares of Baidu from $128.00 to $117.00 and set a "buy" rating on the stock in a report on Friday, August 23rd. StockNews.com cut Baidu from a "buy" rating to a "hold" rating in a report on Wednesday. Susquehanna lowered Baidu from a "positive" rating to a "neutral" rating and dropped their price target for the company from $105.00 to $85.00 in a research note on Monday, November 25th. Barclays lowered Baidu from an "overweight" rating to an "equal weight" rating in a research note on Friday, November 22nd. Finally, Loop Capital dropped their price target on Baidu from $120.00 to $115.00 and set a "buy" rating for the company in a research note on Monday, August 26th. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Baidu currently has an average rating of "Hold" and an average target price of $113.75.

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.