Baidu, Inc. $BIDU Shares Acquired by Sei Investments Co.

Sei Investments Co. grew its holdings in Baidu, Inc. (NASDAQ:BIDU) by 13.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 285,068 shares of the information services provider’s stock after acquiring an additional 32,955 shares during the period. Sei Investments Co.’s holdings in Baidu were worth $31,762,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BIDU. RPD Fund Management LLC lifted its position in Baidu by 161.6% during the second quarter. RPD Fund Management LLC now owns 1,258,856 shares of the information services provider’s stock valued at $107,959,000 after purchasing an additional 777,570 shares during the period. Morgan Stanley grew its position in Baidu by 38.0% during the 4th quarter. Morgan Stanley now owns 2,709,426 shares of the information services provider’s stock worth $354,014,000 after purchasing an additional 745,588 shares during the period. ARK Investment Management LLC grew its position in Baidu by 127.8% during the 4th quarter. ARK Investment Management LLC now owns 1,157,878 shares of the information services provider’s stock worth $151,288,000 after purchasing an additional 649,490 shares during the period. Bank of America Corp DE raised its stake in shares of Baidu by 106.7% during the 3rd quarter. Bank of America Corp DE now owns 1,129,272 shares of the information services provider’s stock valued at $148,804,000 after buying an additional 582,832 shares during the last quarter. Finally, Steadfast Capital Management LP purchased a new position in shares of Baidu during the 3rd quarter valued at about $59,966,000.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BIDU. JPMorgan Chase & Co. lowered their target price on Baidu from $230.00 to $205.00 and set an “overweight” rating on the stock in a research note on Friday, July 17th. Wall Street Zen upgraded Baidu from a “sell” rating to a “hold” rating in a research report on Monday, May 25th. Zacks Research downgraded Baidu from a “hold” rating to a “strong sell” rating in a report on Monday, July 20th. Nomura upped their price objective on Baidu from $186.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. Finally, Benchmark reaffirmed a “buy” rating and set a $215.00 price objective on shares of Baidu in a research note on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Baidu currently has an average rating of “Moderate Buy” and an average target price of $165.33.

Baidu Price Performance

NASDAQ:BIDU opened at $105.29 on Tuesday. Baidu, Inc. has a 52 week low of $84.64 and a 52 week high of $165.30. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $35.82 billion, a PE ratio of -877.34, a price-to-earnings-growth ratio of 2.28 and a beta of 0.56. The stock’s 50-day moving average price is $117.65 and its 200-day moving average price is $126.82.

Baidu Profile

Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China’s leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.

Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.