Baidu, Inc. $BIDU Position Lifted by Penserra Capital Management LLC

Penserra Capital Management LLC raised its stake in Baidu, Inc. (NASDAQ:BIDU) by 20.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 220,893 shares of the information services provider’s stock after purchasing an additional 37,927 shares during the period. Penserra Capital Management LLC’s holdings in Baidu were worth $18,943,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Parallel Advisors LLC grew its stake in Baidu by 17.0% in the second quarter. Parallel Advisors LLC now owns 935 shares of the information services provider’s stock worth $80,000 after purchasing an additional 136 shares in the last quarter. Redwood Wealth Management Group LLC lifted its holdings in Baidu by 3.8% during the 2nd quarter. Redwood Wealth Management Group LLC now owns 4,117 shares of the information services provider’s stock worth $353,000 after buying an additional 150 shares during the last quarter. CX Institutional lifted its holdings in Baidu by 34.1% during the 2nd quarter. CX Institutional now owns 715 shares of the information services provider’s stock worth $61,000 after buying an additional 182 shares during the last quarter. Assetmark Inc. grew its position in shares of Baidu by 143.3% in the 1st quarter. Assetmark Inc. now owns 326 shares of the information services provider’s stock worth $30,000 after acquiring an additional 192 shares in the last quarter. Finally, Yousif Capital Management LLC increased its holdings in shares of Baidu by 5.2% in the 2nd quarter. Yousif Capital Management LLC now owns 4,539 shares of the information services provider’s stock valued at $389,000 after acquiring an additional 225 shares during the last quarter.

Wall Street Analyst Weigh In

BIDU has been the topic of several research analyst reports. Barclays reduced their price objective 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. Arete upgraded shares of Baidu from a “sell” rating to a “buy” rating and set a $143.00 price target on the stock in a research report on Tuesday, September 16th. Nomura lifted their price target on shares of Baidu from $91.00 to $135.00 and gave the company a “neutral” rating in a report on Monday, September 22nd. Wall Street Zen lowered shares of Baidu from a “hold” rating to a “sell” rating in a research note on Sunday, October 19th. Finally, Arete Research raised shares of Baidu from a “sell” rating to a “buy” rating and set a $143.00 target price on the stock in a report on Tuesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $131.00.

Baidu Stock Down 0.9%

BIDU stock opened at $125.96 on Friday. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.19. Baidu, Inc. has a fifty-two week low of $74.71 and a fifty-two week high of $149.51. The firm’s 50-day simple moving average is $123.37 and its 200 day simple moving average is $100.24. The stock has a market cap of $43.51 billion, a PE ratio of 11.61 and a beta of 0.43.

Baidu Company 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.