Rakuten Securities Inc. Purchases 3,790 Shares of Baidu, Inc. (NASDAQ:BIDU)

Rakuten Securities Inc. grew its position in Baidu, Inc. (NASDAQ:BIDU) by 126.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,785 shares of the information services provider’s stock after acquiring an additional 3,790 shares during the period. Rakuten Securities Inc.’s holdings in Baidu were worth $714,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. SRN Advisors LLC increased its holdings in shares of Baidu by 111.5% in the first quarter. SRN Advisors LLC now owns 15,694 shares of the information services provider’s stock valued at $1,652,000 after purchasing an additional 8,272 shares in the last quarter. Handelsbanken Fonder AB increased its holdings in shares of Baidu by 8.9% in the third quarter. Handelsbanken Fonder AB now owns 182,817 shares of the information services provider’s stock valued at $19,249,000 after purchasing an additional 15,000 shares in the last quarter. Clear Harbor Asset Management LLC grew its holdings in Baidu by 82.9% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 20,503 shares of the information services provider’s stock worth $2,159,000 after acquiring an additional 9,292 shares during the period. B. Riley Wealth Advisors Inc. acquired a new stake in Baidu during the 2nd quarter worth $606,000. Finally, Swedbank AB acquired a new stake in Baidu during the 1st quarter worth $4,351,000.

Baidu Trading Down 0.8 %

Shares of NASDAQ:BIDU opened at $88.28 on Tuesday. The company’s 50-day moving average price is $93.44 and its two-hundred day moving average price is $93.93. 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 one year low of $79.68 and a one year high of $126.23. The stock has a market capitalization of $30.96 billion, a PE ratio of 11.63 and a beta of 0.51.

Analyst Upgrades and Downgrades

A number of research firms have commented on BIDU. Susquehanna lowered their target price on shares of Baidu from $135.00 to $105.00 and set a “positive” rating for the company in a report on Thursday, September 5th. Hsbc Global Res lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. StockNews.com lowered shares of Baidu from a “buy” rating to a “hold” rating in a report on Friday, October 25th. 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. Finally, Jefferies Financial Group decreased their price target on shares of Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $128.36.

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.