Harvest Fund Management Co. Ltd Has $1.94 Million Position in Baidu, Inc. (NASDAQ:BIDU)

Harvest Fund Management Co. Ltd lessened its position in Baidu, Inc. (NASDAQ:BIDU) by 48.3% during the 3rd quarter, Holdings Channel reports. The firm owned 18,400 shares of the information services provider’s stock after selling 17,200 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Baidu were worth $1,937,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Primecap Management Co. CA increased its holdings in Baidu by 17.2% during the 2nd quarter. Primecap Management Co. CA now owns 11,947,706 shares of the information services provider’s stock valued at $1,033,238,000 after purchasing an additional 1,753,577 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Baidu by 12,065.6% in the third quarter. International Assets Investment Management LLC now owns 1,070,694 shares of the information services provider’s stock valued at $1,127,330,000 after purchasing an additional 1,061,893 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in Baidu by 103.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 582,475 shares of the information services provider’s stock worth $51,192,000 after purchasing an additional 295,700 shares during the period. XY Capital Ltd acquired a new position in Baidu during the 2nd quarter valued at about $23,880,000. Finally, Shah Capital Management bought a new position in shares of Baidu in the 2nd quarter valued at about $14,269,000.

Baidu Price Performance

BIDU stock opened at $82.67 on Tuesday. The stock has a 50-day moving average price of $93.67 and a two-hundred day moving average price of $92.22. Baidu, Inc. has a 1 year low of $78.95 and a 1 year high of $126.23. The stock has a market cap of $28.99 billion, a PE ratio of 10.12, a price-to-earnings-growth ratio of 1.03 and a beta of 0.51. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.18.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. HSBC downgraded shares of Baidu from a “buy” rating to a “hold” rating and set a $100.00 price target for the company. in a research note on Tuesday, September 24th. StockNews.com cut shares of Baidu from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Barclays lowered Baidu from an “overweight” rating to an “equal weight” rating in a research report on Friday. Loop Capital dropped their price objective on Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a report on Monday, August 26th. Finally, Benchmark cut their target price on Baidu from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Baidu presently has a consensus rating of “Hold” and a consensus target price of $114.92.

Baidu Profile

Baidu, Inc engages in the provision of internet search services in China. It operates through two segments: Baidu Core and iQIYI. The company offers Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Baidu Health that helps users to find the doctor and hospital for healthcare needs; and Haokan, a short video app.