Baidu, Inc. (NASDAQ:BIDU) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lessened its position in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 28.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,510 shares of the information services provider's stock after selling 28,000 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Baidu were worth $7,424,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in BIDU. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Baidu during the third quarter worth approximately $1,054,000. Fred Alger Management LLC purchased a new position in shares of Baidu in the 3rd quarter worth approximately $790,000. Handelsbanken Fonder AB increased its position in shares of Baidu by 8.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 182,817 shares of the information services provider's stock valued at $19,249,000 after purchasing an additional 15,000 shares during the last quarter. Maple Rock Capital Partners Inc. purchased a new stake in Baidu during the 3rd quarter valued at $42,748,000. Finally, Clear Harbor Asset Management LLC lifted its position in Baidu by 82.9% in the third quarter. Clear Harbor Asset Management LLC now owns 20,503 shares of the information services provider's stock worth $2,159,000 after buying an additional 9,292 shares during the last quarter.

Analyst Upgrades and Downgrades

BIDU has been the topic of several analyst reports. Sanford C. Bernstein downgraded shares of Baidu from an "outperform" rating to a "market perform" rating and cut their price target for the company from $130.00 to $97.00 in a report on Friday, August 23rd. StockNews.com cut Baidu from a "buy" rating to a "hold" rating in a research note on Thursday. Loop Capital decreased 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. Hsbc Global Res downgraded Baidu from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 24th. Finally, Benchmark reduced their target price on Baidu from $135.00 to $130.00 and set a "buy" rating on the stock in a research note on Friday, November 22nd. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, Baidu has a consensus rating of "Hold" and a consensus target price of $113.75.

Baidu Stock Up 0.6 %

NASDAQ:BIDU traded up $0.50 during mid-day trading on Friday, hitting $90.82. 2,418,146 shares of the company's stock traded hands, compared to its average volume of 3,601,490. The company has a fifty day moving average of $90.90 and a 200 day moving average of $90.57. 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 $78.95 and a twelve month high of $120.25. The company has a market capitalization of $31.85 billion, a P/E ratio of 11.06, a P/E/G 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.