Great Hill Capital LLC Decreases Stock Holdings in Baidu, Inc. $BIDU

Great Hill Capital LLC lowered its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 98.2% during the first quarter, Holdings Channel.com reports. The firm owned 18,235 shares of the information services provider’s stock after selling 1,022,450 shares during the quarter. Baidu makes up about 0.1% of Great Hill Capital LLC’s investment portfolio, making the stock its 24th biggest position. Great Hill Capital LLC’s holdings in Baidu were worth $2,032,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Central Asset Investments & Management Holdings HK Ltd bought a new stake in shares of Baidu in the 4th quarter valued at about $2,626,000. Yarbrough Capital LLC bought a new position in shares of Baidu during the 4th quarter worth approximately $1,697,000. Earnest Partners LLC boosted its stake in Baidu by 21.9% in the third quarter. Earnest Partners LLC now owns 818,930 shares of the information services provider’s stock valued at $107,910,000 after acquiring an additional 146,992 shares in the last quarter. Clearline Capital LP purchased a new stake in shares of Baidu during the 3rd quarter valued at $8,833,000. Finally, TT International Asset Management LTD acquired a new stake in shares of Baidu in the 4th quarter worth $33,727,000.

Analysts Set New Price Targets

BIDU has been the topic of several recent analyst reports. Nomura upped their target price on Baidu from $186.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, May 20th. Susquehanna boosted their price target on Baidu from $120.00 to $140.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 20th. BNP Paribas Exane began coverage on shares of Baidu in a report on Wednesday, April 1st. They set an “outperform” rating and a $161.00 price objective on the stock. Citigroup reaffirmed a “buy” rating on shares of Baidu in a research report on Tuesday, June 23rd. Finally, Zacks Research raised shares of Baidu from a “strong sell” rating to a “hold” rating in a research report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $162.58.

Baidu Price Performance

Shares of NASDAQ BIDU opened at $114.28 on Tuesday. Baidu, Inc. has a 52 week low of $84.64 and a 52 week high of $165.30. The business’s 50 day moving average price is $125.00 and its 200 day moving average price is $128.85. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.22. The firm has a market cap of $38.88 billion, a P/E ratio of -956.38, a P/E/G ratio of 1.93 and a beta of 0.56.

Baidu Profile

Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China’s leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.

Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.