Virtu Financial LLC trimmed its position in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 86.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,935 shares of the information services provider's stock after selling 26,031 shares during the period. Virtu Financial LLC's holdings in Baidu were worth $414,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. iA Global Asset Management Inc. acquired a new stake in Baidu in the 2nd quarter valued at $52,000. Denver PWM LLC acquired a new stake in shares of Baidu in the second quarter valued at about $67,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Baidu by 630.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider's stock valued at $72,000 after buying an additional 593 shares during the period. Grove Bank & Trust boosted its holdings in Baidu by 21.6% in the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider's stock worth $77,000 after acquiring an additional 130 shares during the period. Finally, Transamerica Financial Advisors Inc. acquired a new stake in Baidu in the third quarter valued at approximately $82,000.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on the stock. Citigroup decreased their target price on shares of Baidu from $142.00 to $141.00 and set a "buy" rating for the company in a research note on Friday, November 29th. Jefferies Financial Group dropped their price objective on Baidu from $174.00 to $139.00 and set a "buy" rating on the stock in a report on Thursday, August 22nd. Barclays cut Baidu from an "overweight" rating to an "equal weight" rating in a research note on Friday, November 22nd. Sanford C. Bernstein cut 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. Finally, Benchmark dropped their target price on shares of Baidu from $135.00 to $130.00 and set a "buy" rating for the company in a research report on Friday, November 22nd. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $113.75.
Check Out Our Latest Stock Report on BIDU
Baidu Stock Performance
Shares of BIDU stock traded down $2.48 during trading hours on Monday, reaching $88.34. The stock had a trading volume of 2,695,468 shares, compared to its average volume of 3,597,759. The firm has a market capitalization of $30.98 billion, a PE ratio of 11.12, a price-to-earnings-growth ratio of 1.19 and a beta of 0.46. The firm has a 50-day simple moving average of $90.51 and a 200-day simple moving average of $90.39. Baidu, Inc. has a twelve month low of $78.95 and a twelve 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.
Baidu Company Profile
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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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