Axa S.A. Sells 4,179 Shares of Baidu, Inc. (NASDAQ:BIDU)

Axa S.A. lowered its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 38.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,830 shares of the information services provider’s stock after selling 4,179 shares during the quarter. Axa S.A.’s holdings in Baidu were worth $591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BIDU. Bank of Montreal Can boosted its stake in Baidu by 119.6% in the second quarter. Bank of Montreal Can now owns 22,381 shares of the information services provider’s stock valued at $1,936,000 after acquiring an additional 12,188 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Baidu by 102.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,098 shares of the information services provider’s stock worth $97,000 after purchasing an additional 555 shares in the last quarter. Frank Rimerman Advisors LLC boosted its position in shares of Baidu by 150.1% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 7,956 shares of the information services provider’s stock worth $688,000 after purchasing an additional 4,775 shares in the last quarter. Columbus Hill Capital Management L.P. purchased a new position in Baidu during the 2nd quarter worth $1,276,000. Finally, Pacer Advisors Inc. acquired a new position in Baidu during the 2nd quarter valued at about $1,796,000.

Analysts Set New Price Targets

Several brokerages have weighed in on BIDU. Loop Capital lowered their price target on Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a report on Monday, August 26th. Jefferies Financial Group dropped their target price on shares of Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Bank of America decreased their price target on shares of Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a report on Friday, August 23rd. Benchmark cut their target price on Baidu from $180.00 to $135.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Finally, Susquehanna lowered their price target on Baidu from $135.00 to $105.00 and set a “positive” rating for the company in a research report on Thursday, September 5th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Baidu has a consensus rating of “Moderate Buy” and an average price target of $132.13.

Baidu Stock Up 4.7 %

BIDU opened at $110.28 on Wednesday. The company has a fifty day moving average of $87.45 and a two-hundred day moving average of $95.08. The stock has a market capitalization of $38.67 billion, a price-to-earnings ratio of 14.76 and a beta of 0.48. Baidu, Inc. has a fifty-two week low of $79.68 and a fifty-two week high of $135.85. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.32 and a current ratio of 2.32.

About Baidu

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.