Ignite Planners LLC Buys 881 Shares of Baidu, Inc. (NASDAQ:BIDU)

Ignite Planners LLC increased its stake in Baidu, Inc. (NASDAQ:BIDU) by 20.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,173 shares of the information services provider’s stock after acquiring an additional 881 shares during the period. Ignite Planners LLC’s holdings in Baidu were worth $545,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of BIDU. Barometer Capital Management Inc. bought a new position in shares of Baidu in the 4th quarter worth approximately $119,000. LM Advisors LLC bought a new position in shares of Baidu in the 4th quarter worth approximately $226,000. Coatue Management LLC bought a new position in shares of Baidu in the 4th quarter worth approximately $660,000. Prelude Capital Management LLC raised its position in shares of Baidu by 97.2% in the 4th quarter. Prelude Capital Management LLC now owns 43,992 shares of the information services provider’s stock worth $5,239,000 after acquiring an additional 21,687 shares in the last quarter. Finally, Prospect Financial Services LLC bought a new position in shares of Baidu in the 4th quarter worth approximately $2,088,000.

Analyst Upgrades and Downgrades

BIDU has been the subject of several research reports. Hsbc Global Res lowered Baidu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Barclays cut their price target on Baidu from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Dbs Bank downgraded Baidu from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Benchmark cut their price target on Baidu from $180.00 to $135.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Finally, Loop Capital cut their price target on Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Baidu currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.13.

Baidu Price Performance

NASDAQ BIDU opened at $106.01 on Wednesday. The business’s fifty day moving average price is $89.31 and its 200-day moving average price is $95.32. The stock has a market capitalization of $37.17 billion, a price-to-earnings ratio of 14.30 and a beta of 0.49. 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.

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.