Profund Advisors LLC Has $1.43 Million Position in Baidu, Inc. (NASDAQ:BIDU)

Profund Advisors LLC trimmed its holdings in shares of Baidu, Inc. (NASDAQ:BIDU) by 9.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,567 shares of the information services provider’s stock after selling 1,646 shares during the period. Profund Advisors LLC’s holdings in Baidu were worth $1,433,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Crewe Advisors LLC acquired a new position in Baidu during the first quarter valued at approximately $31,000. iA Global Asset Management Inc. acquired a new stake in shares of Baidu in the 2nd quarter valued at approximately $52,000. Silicon Valley Capital Partners bought a new position in shares of Baidu in the first quarter valued at $53,000. Accent Capital Management LLC acquired a new position in Baidu during the fourth quarter worth $66,000. Finally, Denver PWM LLC bought a new stake in Baidu during the second quarter worth $67,000.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Sanford C. Bernstein lowered shares of Baidu from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $130.00 to $97.00 in a research note on Friday, August 23rd. Loop Capital lowered their price target on Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. StockNews.com cut Baidu from a “buy” rating to a “hold” rating in a research report on Tuesday, July 16th. Jefferies Financial Group decreased their target price on Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Finally, Susquehanna reduced their price objective on shares of Baidu from $135.00 to $105.00 and set a “positive” rating for the company in a research report on Thursday, September 5th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $135.13.

Baidu Trading Up 2.4 %

Shares of BIDU stock opened at $88.28 on Tuesday. The stock has a 50 day simple moving average of $86.18 and a 200 day simple moving average of $95.14. Baidu, Inc. has a 1 year low of $79.68 and a 1 year high of $136.53. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19. The stock has a market cap of $30.96 billion, a P/E ratio of 11.82 and a beta of 0.48.

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.