Coldstream Capital Management Inc. Acquires New Shares in Baidu, Inc. (NASDAQ:BIDU)

Coldstream Capital Management Inc. acquired a new stake in Baidu, Inc. (NASDAQ:BIDU - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 6,205 shares of the information services provider's stock, valued at approximately $653,000.

Several other institutional investors also recently modified their holdings of BIDU. iA Global Asset Management Inc. acquired a new position in Baidu in the 2nd quarter valued at about $52,000. Allspring Global Investments Holdings LLC grew its position 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 valued at $72,000 after purchasing an additional 593 shares during the last quarter. Grove Bank & Trust increased its stake in shares of Baidu by 21.6% during the third quarter. Grove Bank & Trust now owns 731 shares of the information services provider's stock worth $77,000 after purchasing an additional 130 shares during the period. Denver PWM LLC acquired a new stake in Baidu during the 2nd quarter worth approximately $67,000. Finally, Transamerica Financial Advisors Inc. bought a new stake in Baidu in the 3rd quarter valued at $82,000.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on BIDU shares. Citigroup dropped their target price on Baidu from $142.00 to $141.00 and set a "buy" rating for the company in a report on Friday, November 29th. Dbs Bank cut shares of Baidu from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 3rd. Bank of America decreased their target price on shares of Baidu from $128.00 to $117.00 and set a "buy" rating on the stock in a research report on Friday, August 23rd. Barclays downgraded shares of Baidu from an "overweight" rating to an "equal weight" rating in a research report on Friday, November 22nd. Finally, Loop Capital reduced their price target on Baidu from $120.00 to $115.00 and set a "buy" rating on the stock in a research report on Monday, August 26th. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $113.75.

Baidu Price Performance

Shares of BIDU stock traded up $0.50 on Friday, hitting $90.82. 2,420,958 shares of the company's stock were exchanged, compared to its average volume of 3,601,490. Baidu, Inc. has a 12 month low of $78.95 and a 12 month high of $120.25. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.19 and a quick ratio of 2.19. The company has a 50 day moving average of $90.51 and a 200 day moving average of $90.44. The stock has a market cap of $31.85 billion, a P/E ratio of 11.12, a price-to-earnings-growth ratio of 1.19 and a beta of 0.46.

Baidu 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.