Baidu, Inc. $BIDU Shares Sold by Pzena Investment Management LLC

Pzena Investment Management LLC lowered its holdings in shares of Baidu, Inc. (NASDAQ:BIDU – Free Report) by 13.7% during the first quarter, HoldingsChannel.com reports. The firm owned 48,767 shares of the information services provider’s stock after selling 7,740 shares during the period. Pzena Investment Management LLC’s holdings in Baidu were worth $5,434,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Morgan Stanley increased its position in shares of Baidu by 38.0% in the fourth quarter. Morgan Stanley now owns 2,709,426 shares of the information services provider’s stock valued at $354,014,000 after buying an additional 745,588 shares in the last quarter. RPD Fund Management LLC lifted its position in shares of Baidu by 161.6% during the 2nd quarter. RPD Fund Management LLC now owns 1,258,856 shares of the information services provider’s stock valued at $107,959,000 after buying an additional 777,570 shares in the last quarter. Schroder Investment Management Group acquired a new stake in Baidu in the 3rd quarter valued at $165,334,000. Capital World Investors grew its stake in Baidu by 21.0% in the 4th quarter. Capital World Investors now owns 1,182,857 shares of the information services provider’s stock valued at $154,552,000 after acquiring an additional 205,040 shares during the period. Finally, ARK Investment Management LLC increased its holdings in Baidu by 127.8% in the 4th quarter. ARK Investment Management LLC now owns 1,157,878 shares of the information services provider’s stock worth $151,288,000 after acquiring an additional 649,490 shares in the last quarter.

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Baidu Stock Down 3.9%

BIDU stock opened at $113.30 on Friday. The company has a market cap of $38.55 billion, a price-to-earnings ratio of -944.09, a PEG ratio of 2.01 and a beta of 0.56. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.22. Baidu, Inc. has a 12 month low of $84.64 and a 12 month high of $165.30. The firm has a 50-day moving average of $125.34 and a two-hundred day moving average of $128.93.

Wall Street Analysts Forecast Growth

BIDU has been the subject of a number of research reports. Weiss Ratings cut shares of Baidu from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 18th. Morgan Stanley lifted their price objective on Baidu from $135.00 to $140.00 in a report on Tuesday, May 19th. BNP Paribas Exane started coverage on Baidu in a research note on Wednesday, April 1st. They set an “outperform” rating and a $161.00 price objective for the company. Barclays reduced their target price on Baidu from $147.00 to $128.00 and set an “equal weight” rating for the company in a report on Thursday, March 5th. Finally, Wall Street Zen upgraded Baidu from a “sell” rating to a “hold” rating in a research report on Monday, May 25th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $162.58.

Read Our Latest Stock Analysis on Baidu

Baidu Company Profile

(Free Report)

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.

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