Baidu, Inc. (NASDAQ:BIDU) Shares Sold by Principal Securities Inc.

Principal Securities Inc. trimmed its holdings in shares of Baidu, Inc. (NASDAQ:BIDU) by 60.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,854 shares of the information services provider’s stock after selling 4,316 shares during the period. Principal Securities Inc.’s holdings in Baidu were worth $241,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of BIDU. Allspring Global Investments Holdings LLC lifted its stake in shares of Baidu by 630.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock valued at $72,000 after purchasing an additional 593 shares during the period. Private Advisor Group LLC lifted its stake in shares of Baidu by 24.4% in the 3rd quarter. Private Advisor Group LLC now owns 5,526 shares of the information services provider’s stock valued at $582,000 after purchasing an additional 1,083 shares during the period. Clear Harbor Asset Management LLC lifted its stake in shares of Baidu by 82.9% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 20,503 shares of the information services provider’s stock valued at $2,159,000 after purchasing an additional 9,292 shares during the period. Kercheville Advisors LLC acquired a new position in shares of Baidu in the 3rd quarter valued at $211,000. Finally, Strategic Wealth Investment Group LLC lifted its stake in shares of Baidu by 114.0% in the 3rd quarter. Strategic Wealth Investment Group LLC now owns 8,647 shares of the information services provider’s stock valued at $954,000 after purchasing an additional 4,606 shares during the period.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. China Renaissance cut shares of Baidu from a “buy” rating to a “hold” rating and set a $86.00 target price for the company. in a research note on Monday, November 25th. StockNews.com cut shares of Baidu from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Mizuho boosted their price target on shares of Baidu from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Susquehanna lowered shares of Baidu from a “positive” rating to a “neutral” rating and cut their price target for the stock from $105.00 to $85.00 in a report on Monday, November 25th. Finally, Citigroup cut their price target on shares of Baidu from $142.00 to $141.00 and set a “buy” rating for the company in a report on Friday, November 29th. Thirteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Baidu has a consensus rating of “Hold” and an average price target of $111.25.

Baidu Price Performance

Baidu stock opened at $91.19 on Monday. Baidu, Inc. has a 52-week low of $77.19 and a 52-week high of $116.25. The firm has a market capitalization of $31.97 billion, a price-to-earnings ratio of 9.94, a PEG ratio of 2.91 and a beta of 0.46. The company has a fifty day simple moving average of $87.08 and a 200-day simple moving average of $88.98. The company has a quick ratio of 2.19, a current ratio of 2.09 and a debt-to-equity ratio of 0.19.

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.