Voloridge Investment Management LLC Sells 255,115 Shares of Baidu Inc (NASDAQ:BIDU)

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Voloridge Investment Management LLC cut its stake in Baidu Inc (NASDAQ:BIDU) by 86.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,141 shares of the information services provider’s stock after selling 255,115 shares during the period. Voloridge Investment Management LLC’s holdings in Baidu were worth $4,022,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Whittier Trust Co. boosted its stake in shares of Baidu by 14.5% in the 3rd quarter. Whittier Trust Co. now owns 790 shares of the information services provider’s stock valued at $81,000 after purchasing an additional 100 shares during the last quarter. Guinness Asset Management Ltd boosted its stake in Baidu by 9.6% during the 3rd quarter. Guinness Asset Management Ltd now owns 1,140 shares of the information services provider’s stock worth $117,000 after acquiring an additional 100 shares during the last quarter. Synovus Financial Corp boosted its stake in Baidu by 7.4% during the 2nd quarter. Synovus Financial Corp now owns 1,832 shares of the information services provider’s stock worth $214,000 after acquiring an additional 127 shares during the last quarter. Pinnacle Bank boosted its stake in Baidu by 61.7% during the 3rd quarter. Pinnacle Bank now owns 333 shares of the information services provider’s stock worth $34,000 after acquiring an additional 127 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in Baidu by 5.7% during the 2nd quarter. Quadrant Capital Group LLC now owns 2,628 shares of the information services provider’s stock worth $303,000 after acquiring an additional 141 shares during the last quarter. 52.16% of the stock is owned by hedge funds and other institutional investors.

Several research firms recently weighed in on BIDU. Nomura reduced their price objective on shares of Baidu from $134.00 to $118.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 21st. CICC Research raised shares of Baidu from a “neutral” rating to an “outperform” rating in a research note on Thursday, November 7th. Zacks Investment Research raised shares of Baidu from a “hold” rating to a “strong-buy” rating and set a $136.00 price target on the stock in a research note on Thursday, November 14th. KeyCorp cut their price target on shares of Baidu from $152.00 to $149.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Finally, Benchmark cut their price target on shares of Baidu to $165.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $146.00.

NASDAQ:BIDU opened at $118.39 on Monday. Baidu Inc has a one year low of $93.39 and a one year high of $196.00. The company has a market cap of $41.41 billion, a P/E ratio of 15.18, a P/E/G ratio of 15.60 and a beta of 1.77. The firm’s fifty day moving average price is $111.06 and its two-hundred day moving average price is $110.89. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.59 and a quick ratio of 2.59.

About Baidu

Baidu, Inc provides Internet search services in China and internationally. It operates through two segments, Baidu Core and iQIYI. The Baidu Core segment offers products for uses, including Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services through its other properties and Union partners; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Haokan, a short video app; and Quanmin, a flash video app for users to create and share short videos.

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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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