Baidu, Inc. (NASDAQ:BIDU) Shares Sold by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd trimmed its holdings in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 92.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,400 shares of the information services provider's stock after selling 17,000 shares during the period. Harvest Fund Management Co. Ltd's holdings in Baidu were worth $118,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Maple Rock Capital Partners Inc. purchased a new stake in shares of Baidu during the third quarter worth about $42,748,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Baidu during the third quarter worth approximately $36,272,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Baidu by 1,111.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 360,378 shares of the information services provider's stock worth $30,317,000 after acquiring an additional 330,627 shares during the period. Hhlr Advisors LTD. acquired a new position in Baidu in the 3rd quarter valued at $31,587,000. Finally, SG Americas Securities LLC lifted its stake in shares of Baidu by 147.5% during the 4th quarter. SG Americas Securities LLC now owns 381,456 shares of the information services provider's stock worth $32,161,000 after purchasing an additional 227,338 shares during the period.

Analysts Set New Price Targets

BIDU has been the subject of several analyst reports. Daiwa Capital Markets reiterated an "outperform" rating on shares of Baidu in a research note on Tuesday, February 18th. Benchmark reiterated a "buy" rating and set a $130.00 price objective on shares of Baidu in a report on Wednesday, February 19th. Sanford C. Bernstein restated a "market perform" rating on shares of Baidu in a report on Saturday, March 8th. Nomura lowered shares of Baidu from a "buy" rating to a "neutral" rating in a research report on Wednesday, February 19th. Finally, Citigroup decreased their price target on shares of Baidu from $142.00 to $141.00 and set a "buy" rating on the stock in a report on Friday, November 29th. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $111.25.

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Baidu Stock Performance

BIDU traded up $2.12 during trading hours on Wednesday, hitting $97.50. The company's stock had a trading volume of 5,094,691 shares, compared to its average volume of 3,955,708. The firm has a market capitalization of $34.19 billion, a PE ratio of 10.63, a PEG ratio of 2.96 and a beta of 0.47. The company has a current ratio of 2.09, a quick ratio of 2.19 and a debt-to-equity ratio of 0.19. Baidu, Inc. has a fifty-two week low of $77.20 and a fifty-two week high of $116.25. The company has a 50-day simple moving average of $90.73 and a 200 day simple moving average of $90.14.

About Baidu

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.