Victory Capital Management Inc. Sells 3,095 Shares of Baidu, Inc. (NASDAQ:BIDU)

Victory Capital Management Inc. decreased its stake in Baidu, Inc. (NASDAQ:BIDU) by 47.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,426 shares of the information services provider’s stock after selling 3,095 shares during the period. Victory Capital Management Inc.’s holdings in Baidu were worth $296,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Nordea Investment Management AB raised its position in Baidu by 14.5% during the first quarter. Nordea Investment Management AB now owns 398,387 shares of the information services provider’s stock valued at $42,125,000 after purchasing an additional 50,599 shares in the last quarter. Trexquant Investment LP bought a new stake in Baidu in the 4th quarter worth approximately $1,476,000. SRN Advisors LLC boosted its stake in Baidu by 111.5% in the first quarter. SRN Advisors LLC now owns 15,694 shares of the information services provider’s stock worth $1,652,000 after buying an additional 8,272 shares in the last quarter. Perpetual Ltd grew its position in Baidu by 45.4% during the first quarter. Perpetual Ltd now owns 147,165 shares of the information services provider’s stock valued at $15,451,000 after acquiring an additional 45,975 shares during the last quarter. Finally, SPX Gestao de Recursos Ltda purchased a new position in shares of Baidu during the fourth quarter worth approximately $11,028,000.

Baidu Price Performance

Shares of BIDU stock opened at $88.28 on Tuesday. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.19. The stock has a market cap of $30.96 billion, a price-to-earnings ratio of 11.82 and a beta of 0.48. The business’s fifty day moving average is $86.18 and its 200 day moving average is $95.14. Baidu, Inc. has a twelve month low of $79.68 and a twelve month high of $136.53.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Barclays cut their price objective on shares of Baidu from $125.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, August 23rd. Citigroup cut their price target on shares of Baidu from $170.00 to $155.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Loop Capital decreased their price objective on Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, August 26th. Susquehanna dropped their target price on Baidu from $135.00 to $105.00 and set a “positive” rating for the company in a report on Thursday, September 5th. Finally, StockNews.com lowered Baidu from a “buy” rating to a “hold” rating in a research report on Tuesday, July 16th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $135.13.

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.