SRN Advisors LLC Purchases 2,070 Shares of Baidu, Inc. (NASDAQ:BIDU)

SRN Advisors LLC lifted its position in Baidu, Inc. (NASDAQ:BIDU) by 13.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,764 shares of the information services provider’s stock after acquiring an additional 2,070 shares during the period. Baidu accounts for about 1.3% of SRN Advisors LLC’s investment portfolio, making the stock its 26th largest holding. SRN Advisors LLC’s holdings in Baidu were worth $1,536,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Crewe Advisors LLC bought a new position in Baidu in the first quarter worth $31,000. iA Global Asset Management Inc. purchased a new position in Baidu during the 2nd quarter valued at about $52,000. Silicon Valley Capital Partners bought a new stake in Baidu during the first quarter worth about $53,000. Accent Capital Management LLC purchased a new stake in Baidu in the fourth quarter worth about $66,000. Finally, Denver PWM LLC bought a new position in shares of Baidu during the second quarter valued at approximately $67,000.

Analyst Ratings Changes

A number of analysts have recently commented on BIDU shares. Jefferies Financial Group dropped their price target on Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Loop Capital cut their target price on Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Benchmark lowered their price target on Baidu from $180.00 to $135.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Sanford C. Bernstein downgraded shares of Baidu from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $130.00 to $97.00 in a research report on Friday, August 23rd. Finally, HSBC cut shares of Baidu from a “buy” rating to a “hold” rating and set a $100.00 target price for the company. in a report on Tuesday, September 24th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $132.13.

Baidu Stock Performance

BIDU stock opened at $110.28 on Wednesday. The company has a market cap of $38.67 billion, a P/E ratio of 14.76 and a beta of 0.48. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.32 and a quick ratio of 2.32. Baidu, Inc. has a 1 year low of $79.68 and a 1 year high of $135.85. The stock’s fifty day moving average price is $87.45 and its 200-day moving average price is $95.08.

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.