Baidu, Inc. $BIDU Shares Sold by CastleKnight Management LP

CastleKnight Management LP cut its holdings in Baidu, Inc. (NASDAQ:BIDU) by 61.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 48,300 shares of the information services provider’s stock after selling 75,900 shares during the period. CastleKnight Management LP’s holdings in Baidu were worth $6,311,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Quadrant Capital Group LLC raised its holdings in Baidu by 0.4% in the 4th quarter. Quadrant Capital Group LLC now owns 20,112 shares of the information services provider’s stock valued at $2,628,000 after acquiring an additional 73 shares during the last quarter. Keel Point LLC raised its holdings in Baidu by 1.7% in the 3rd quarter. Keel Point LLC now owns 5,144 shares of the information services provider’s stock valued at $678,000 after acquiring an additional 84 shares during the last quarter. PDS Planning Inc raised its holdings in Baidu by 5.7% in the 4th quarter. PDS Planning Inc now owns 1,634 shares of the information services provider’s stock valued at $213,000 after acquiring an additional 88 shares during the last quarter. UMB Bank n.a. raised its holdings in Baidu by 25.9% in the 4th quarter. UMB Bank n.a. now owns 428 shares of the information services provider’s stock valued at $56,000 after acquiring an additional 88 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in Baidu by 8.4% in the 4th quarter. Signaturefd LLC now owns 1,276 shares of the information services provider’s stock valued at $167,000 after acquiring an additional 99 shares during the last quarter.

Baidu Stock Down 1.0%

Shares of NASDAQ BIDU opened at $111.61 on Thursday. Baidu, Inc. has a 52-week low of $83.30 and a 52-week high of $165.30. The firm has a fifty day moving average of $126.84 and a 200-day moving average of $129.85. The stock has a market capitalization of $37.98 billion, a PE ratio of -930.01, a P/E/G ratio of 1.92 and a beta of 0.54. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.22.

Analysts Set New Price Targets

Several research analysts have weighed in on BIDU shares. Zacks Research upgraded Baidu from a “strong sell” rating to a “hold” rating in a report on Monday. BNP Paribas Exane initiated coverage on shares of Baidu in a research note on Wednesday, April 1st. They set an “outperform” rating and a $161.00 price objective for the company. Susquehanna boosted their price objective on shares of Baidu from $120.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, May 20th. Zephirin Group boosted their price objective on shares of Baidu from $88.00 to $89.00 and gave the company a “sell” rating in a research note on Monday, March 2nd. Finally, Benchmark reissued a “buy” rating and set a $215.00 price objective on shares of Baidu in a research note on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Baidu currently has a consensus rating of “Moderate Buy” and a consensus price target of $162.58.

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.