Rakuten Securities Inc. Takes $258,000 Position in Baidu, Inc. (NASDAQ:BIDU)

Rakuten Securities Inc. purchased a new stake in shares of Baidu, Inc. (NASDAQ:BIDU) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 2,164 shares of the information services provider’s stock, valued at approximately $258,000.

Other institutional investors have also recently made changes to their positions in the company. Morgan Stanley increased its holdings in Baidu by 88.2% in the 4th quarter. Morgan Stanley now owns 2,631,331 shares of the information services provider’s stock valued at $300,972,000 after purchasing an additional 1,232,917 shares during the last quarter. BlackRock Inc. increased its holdings in Baidu by 56.2% in the 2nd quarter. BlackRock Inc. now owns 1,621,949 shares of the information services provider’s stock valued at $222,061,000 after purchasing an additional 583,291 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Baidu by 87.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,190,389 shares of the information services provider’s stock valued at $159,929,000 after purchasing an additional 556,891 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Baidu by 5,704.3% in the 1st quarter. Renaissance Technologies LLC now owns 409,900 shares of the information services provider’s stock valued at $54,230,000 after purchasing an additional 402,838 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Baidu in the first quarter worth $38,458,000.

Baidu Stock Performance

BIDU traded down $1.42 on Wednesday, reaching $94.70. The company had a trading volume of 1,666,511 shares, compared to its average volume of 3,376,679. Baidu, Inc. has a 1 year low of $94.25 and a 1 year high of $156.98. The stock has a market capitalization of $33.21 billion, a PE ratio of 12.24 and a beta of 0.68. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.23. The stock has a 50-day moving average price of $104.37 and a 200-day moving average price of $110.50.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Citigroup dropped their price target on shares of Baidu from $181.00 to $176.00 and set a “buy” rating for the company in a research note on Tuesday, April 9th. StockNews.com downgraded shares of Baidu from a “buy” rating to a “hold” rating in a research note on Saturday, March 23rd. Finally, Barclays dropped their price target on shares of Baidu from $138.00 to $133.00 and set an “overweight” rating for the company in a research note on Thursday, February 29th. One analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $173.73.

Baidu Company 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.