Baidu, Inc. $BIDU Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC lowered its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 2.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,258 shares of the information services provider’s stock after selling 286 shares during the period. Cresset Asset Management LLC’s holdings in Baidu were worth $1,312,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Creekmur Asset Management LLC acquired a new stake in shares of Baidu during the first quarter valued at $29,000. Assetmark Inc. lifted its position in Baidu by 143.3% during the first quarter. Assetmark Inc. now owns 326 shares of the information services provider’s stock worth $30,000 after buying an additional 192 shares during the period. UMB Bank n.a. boosted its stake in Baidu by 80.3% in the 1st quarter. UMB Bank n.a. now owns 402 shares of the information services provider’s stock worth $37,000 after buying an additional 179 shares during the last quarter. CX Institutional acquired a new stake in Baidu in the 1st quarter worth about $49,000. Finally, GeoWealth Management LLC boosted its stake in Baidu by 88.5% in the 4th quarter. GeoWealth Management LLC now owns 656 shares of the information services provider’s stock worth $55,000 after buying an additional 308 shares during the last quarter.

Wall Street Analyst Weigh In

BIDU has been the topic of a number of research analyst reports. Benchmark decreased their price target on Baidu from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, May 22nd. Citigroup raised their price target on Baidu from $138.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, July 17th. Jefferies Financial Group decreased their price target on Baidu from $120.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, July 16th. Macquarie reissued a “neutral” rating on shares of Baidu in a research note on Wednesday, May 21st. Finally, Barclays decreased their price target on Baidu from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Friday, July 18th. Seven equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, Baidu currently has an average rating of “Hold” and an average price target of $105.09.

Baidu Stock Performance

NASDAQ BIDU opened at $86.76 on Thursday. The firm has a market capitalization of $29.97 billion, a P/E ratio of 8.61 and a beta of 0.34. Baidu, Inc. has a 1-year low of $74.71 and a 1-year high of $116.25. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.29 and a quick ratio of 2.29. The business’s 50-day simple moving average is $87.65 and its 200-day simple moving average is $88.44.

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.