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

Pzena Investment Management LLC decreased its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 13.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,767 shares of the information services provider’s stock after selling 7,740 shares during the quarter. Pzena Investment Management LLC’s holdings in Baidu were worth $5,434,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in BIDU. Binnacle Investments Inc purchased a new stake in shares of Baidu during the second quarter valued at $29,000. Sankala Group LLC acquired a new stake in Baidu during the 4th quarter worth about $46,000. Brown Brothers Harriman & Co. lifted its position in Baidu by 35.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 405 shares of the information services provider’s stock worth $53,000 after acquiring an additional 105 shares during the period. UMB Bank n.a. grew its stake in Baidu by 25.9% during the 4th quarter. UMB Bank n.a. now owns 428 shares of the information services provider’s stock valued at $56,000 after purchasing an additional 88 shares during the last quarter. Finally, Winthrop Capital Management LLC purchased a new stake in Baidu during the 4th quarter valued at about $59,000.

Baidu Price Performance

NASDAQ:BIDU opened at $113.30 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.85 and a quick ratio of 1.85. The company has a 50 day moving average price of $125.34 and a 200-day moving average price of $128.93. Baidu, Inc. has a 1-year low of $84.64 and a 1-year high of $165.30. The firm has a market cap of $38.55 billion, a price-to-earnings ratio of -944.09, a price-to-earnings-growth ratio of 2.01 and a beta of 0.56.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on BIDU shares. Nomura raised their price objective on Baidu from $186.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Barclays cut their price target on shares of Baidu from $147.00 to $128.00 and set an “equal weight” rating on the stock in a report on Thursday, March 5th. Benchmark restated a “buy” rating and set a $215.00 price objective on shares of Baidu in a research note on Tuesday, May 19th. Wall Street Zen upgraded shares of Baidu from a “sell” rating to a “hold” rating in a research note on Monday, May 25th. Finally, BNP Paribas Exane assumed coverage on shares of Baidu in a research report on Wednesday, April 1st. They set an “outperform” rating and a $161.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Baidu has a consensus rating of “Moderate Buy” and an average target price of $162.58.

About Baidu

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.