BlackRock Advisors LLC reduced its stake in Baidu Inc. (NASDAQ:BIDU) by 61.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 57,200 shares of the company’s stock after selling 92,726 shares during the period. BlackRock Advisors LLC’s holdings in Baidu were worth $9,447,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Baillie Gifford & Co. boosted its position in Baidu by 0.3% in the second quarter. Baillie Gifford & Co. now owns 25,257,280 shares of the company’s stock valued at $4,171,240,000 after buying an additional 70,596 shares during the period. Lazard Asset Management LLC boosted its position in Baidu by 3.4% in the first quarter. Lazard Asset Management LLC now owns 6,456,232 shares of the company’s stock valued at $1,232,364,000 after buying an additional 214,054 shares during the period. Harding Loevner LP boosted its position in Baidu by 3.8% in the second quarter. Harding Loevner LP now owns 4,270,372 shares of the company’s stock valued at $705,252,000 after buying an additional 155,148 shares during the period. Ruane Cunniff & Goldfarb Inc. bought a new position in Baidu during the second quarter valued at $430,280,000. Finally, Scopia Capital Management LP boosted its position in Baidu by 2.3% in the first quarter. Scopia Capital Management LP now owns 2,348,977 shares of the company’s stock valued at $448,373,000 after buying an additional 53,066 shares during the period. Institutional investors own 63.41% of the company’s stock.
Shares of Baidu Inc. (NASDAQ:BIDU) opened at 179.80 on Monday. The stock’s 50 day moving average price is $182.39 and its 200 day moving average price is $175.28. The stock has a market capitalization of $62.32 billion, a PE ratio of 13.24 and a beta of 2.16. Baidu Inc. has a one year low of $139.61 and a one year high of $217.97.
A number of research analysts have commented on BIDU shares. Citigroup Inc. cut shares of Baidu from a “buy” rating to a “neutral” rating and reduced their price target for the company from $238.00 to $180.00 in a research report on Monday, June 13th. Zacks Investment Research upgraded shares of Baidu from a “sell” rating to a “hold” rating in a research report on Tuesday, October 4th. JPMorgan Chase & Co. started coverage on shares of Baidu in a research report on Wednesday, August 31st. They set an “underweight” rating and a $164.00 price target on the stock. TH Capital cut shares of Baidu from a “buy” rating to a “hold” rating in a research report on Friday, July 29th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and set a $180.00 price target (down from $215.00) on shares of Baidu in a research report on Sunday, July 31st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $195.46.
Baidu Company Profile
Baidu, Inc is a Chinese language Internet search provider. The Company offers a Chinese language search platform on its Baidu.com Website that enables users to find information online, including Webpages, news, images, documents and multimedia files, through links provided on its Website. In addition to serving individual Internet search users, the Company provides a platform for businesses to reach customers.
Want to see what other hedge funds are holding BIDU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Baidu Inc. (NASDAQ:BIDU).
Receive News & Ratings for Baidu Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baidu Inc. and related companies with MarketBeat.com's FREE daily email newsletter.