Baidu, Inc. (NASDAQ:BIDU) Shares Sold by XY Capital Ltd

XY Capital Ltd reduced its holdings in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 89.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 29,627 shares of the information services provider's stock after selling 246,506 shares during the period. Baidu makes up 1.1% of XY Capital Ltd's investment portfolio, making the stock its 14th largest holding. XY Capital Ltd's holdings in Baidu were worth $3,119,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of BIDU. Crewe Advisors LLC purchased a new position in Baidu in the 1st quarter valued at $31,000. iA Global Asset Management Inc. acquired a new position in shares of Baidu during the second quarter worth about $52,000. Denver PWM LLC purchased a new position in Baidu during the second quarter worth about $67,000. Allspring Global Investments Holdings LLC lifted its position in 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 period. Finally, 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 valued at $77,000 after purchasing an additional 130 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on BIDU shares. Barclays cut their target price on Baidu from $125.00 to $115.00 and set an "overweight" rating for the company in a research note on Friday, August 23rd. Bank of America reduced their target price on Baidu from $128.00 to $117.00 and set a "buy" rating for the company in a report on Friday, August 23rd. StockNews.com cut shares of Baidu from a "buy" rating to a "hold" rating in a research note on Friday, October 25th. Citigroup reduced their price objective on shares of Baidu from $170.00 to $155.00 and set a "buy" rating for the company in a research note on Monday, July 15th. Finally, Loop Capital lowered their target price on shares of Baidu from $120.00 to $115.00 and set a "buy" rating on the stock in a research report on Monday, August 26th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $128.36.

Baidu Price Performance

Shares of NASDAQ BIDU traded down $4.57 during trading on Friday, reaching $88.96. The company had a trading volume of 4,590,207 shares, compared to its average volume of 3,677,194. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19. Baidu, Inc. has a twelve month low of $79.68 and a twelve month high of $126.23. The stock has a 50-day moving average price of $93.36 and a two-hundred day moving average price of $94.08. The stock has a market capitalization of $31.19 billion, a PE ratio of 11.72 and a beta of 0.51.

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.