Ping Capital Management Inc. boosted its holdings in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 300.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,000 shares of the information services provider's stock after acquiring an additional 7,500 shares during the quarter. Ping Capital Management Inc.'s holdings in Baidu were worth $843,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Grove Bank & Trust grew its stake in Baidu by 21.6% during the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider's stock valued at $77,000 after acquiring an additional 130 shares in the last quarter. Advisors Asset Management Inc. grew its stake in Baidu by 5.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,818 shares of the information services provider's stock valued at $297,000 after acquiring an additional 140 shares in the last quarter. Denver PWM LLC grew its stake in Baidu by 28.5% during the 3rd quarter. Denver PWM LLC now owns 991 shares of the information services provider's stock valued at $104,000 after acquiring an additional 220 shares in the last quarter. Intellectus Partners LLC grew its stake in Baidu by 1.5% during the 3rd quarter. Intellectus Partners LLC now owns 16,538 shares of the information services provider's stock valued at $1,741,000 after acquiring an additional 250 shares in the last quarter. Finally, Oppenheimer & Co. Inc. grew its stake in Baidu by 6.9% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 5,563 shares of the information services provider's stock valued at $586,000 after acquiring an additional 357 shares in the last quarter.
Analysts Set New Price Targets
BIDU has been the subject of several recent research reports. Citigroup lowered their price target on Baidu from $142.00 to $141.00 and set a "buy" rating for the company in a research note on Friday, November 29th. Barclays cut Baidu from an "overweight" rating to an "equal weight" rating in a research note on Friday, November 22nd. China Renaissance cut Baidu from a "buy" rating to a "hold" rating and set a $86.00 price target for the company. in a research note on Monday, November 25th. Susquehanna cut Baidu from a "positive" rating to a "neutral" rating and lowered their price target for the company from $105.00 to $85.00 in a research note on Monday, November 25th. Finally, Benchmark reissued a "buy" rating and issued a $130.00 price target on shares of Baidu in a research note on Friday, January 24th. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Baidu currently has an average rating of "Hold" and an average price target of $113.75.
View Our Latest Report on BIDU
Baidu Trading Down 4.6 %
Shares of BIDU stock traded down $4.25 on Wednesday, hitting $88.63. The company had a trading volume of 4,351,835 shares, compared to its average volume of 3,952,553. The firm has a market cap of $31.08 billion, a P/E ratio of 10.85, a P/E/G ratio of 2.08 and a beta of 0.46. The stock's 50-day moving average is $85.94 and its two-hundred day moving average is $88.56. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.19 and a current ratio of 2.19. Baidu, Inc. has a twelve month low of $77.19 and a twelve month high of $116.25.
About Baidu
(
Free Report)
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.
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