Baidu, Inc. (NASDAQ:BIDU) Shares Bought by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC raised its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 22.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 111,186 shares of the information services provider’s stock after purchasing an additional 20,019 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Baidu were worth $9,374,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its holdings in shares of Baidu by 630.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock valued at $72,000 after buying an additional 593 shares during the last quarter. World Investment Advisors LLC purchased a new stake in Baidu during the 3rd quarter valued at about $72,000. Grove Bank & Trust increased its holdings in shares of Baidu by 21.6% in the third quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock valued at $77,000 after purchasing an additional 130 shares during the period. Transamerica Financial Advisors Inc. purchased a new position in shares of Baidu in the third quarter worth about $82,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Baidu by 102.2% during the second 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 during the period.

Baidu Trading Up 4.6 %

Shares of BIDU stock opened at $86.40 on Friday. Baidu, Inc. has a 1-year low of $77.19 and a 1-year high of $116.25. The company has a market cap of $30.30 billion, a price-to-earnings ratio of 10.58, a PEG ratio of 1.90 and a beta of 0.46. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.19 and a quick ratio of 2.19. The stock has a 50 day simple moving average of $84.92 and a 200-day simple moving average of $88.84.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BIDU shares. StockNews.com upgraded shares of Baidu from a “hold” rating to a “buy” rating in a report on Friday, December 27th. Barclays lowered shares of Baidu from an “overweight” rating to an “equal weight” rating in a research note on Friday, November 22nd. Citigroup decreased their target price on shares of Baidu from $142.00 to $141.00 and set a “buy” rating for the company in a research report on Friday, November 29th. Benchmark reiterated a “buy” rating and set a $130.00 price objective on shares of Baidu in a research note on Friday. Finally, Susquehanna downgraded Baidu from a “positive” rating to a “neutral” rating and lowered their target price for the stock from $105.00 to $85.00 in a research note on Monday, November 25th. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $113.75.

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.