Ignite Planners LLC Has $466,000 Stock Position in Baidu, Inc. (NASDAQ:BIDU)

Ignite Planners LLC lifted its position in Baidu, Inc. (NASDAQ:BIDU) by 7.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,549 shares of the information services provider’s stock after buying an additional 376 shares during the quarter. Ignite Planners LLC’s holdings in Baidu were worth $466,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of BIDU. Acadian Asset Management LLC acquired a new position in Baidu during the 2nd quarter valued at $621,000. Envestnet Asset Management Inc. raised its stake in Baidu by 11.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 84,548 shares of the information services provider’s stock valued at $7,312,000 after purchasing an additional 8,422 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Baidu by 1.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,344,309 shares of the information services provider’s stock valued at $116,263,000 after purchasing an additional 14,878 shares during the last quarter. Primecap Management Co. CA raised its stake in Baidu by 17.2% during the 2nd quarter. Primecap Management Co. CA now owns 11,947,706 shares of the information services provider’s stock valued at $1,033,238,000 after purchasing an additional 1,753,577 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in Baidu during the 2nd quarter valued at $2,591,000.

Baidu Stock Up 1.8 %

BIDU opened at $79.56 on Wednesday. The firm’s 50-day simple moving average is $85.67 and its 200-day simple moving average is $89.14. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.19 and a current ratio of 2.19. Baidu, Inc. has a twelve month low of $77.19 and a twelve month high of $116.25. The firm has a market cap of $27.90 billion, a price-to-earnings ratio of 9.74, a PEG ratio of 1.19 and a beta of 0.46.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Mizuho cut their target price on shares of Baidu from $130.00 to $115.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Citigroup lowered their price target on shares of Baidu from $142.00 to $141.00 and set a “buy” rating on the stock in a report on Friday, November 29th. StockNews.com raised shares of Baidu from a “hold” rating to a “buy” rating in a report on Friday, December 27th. Hsbc Global Res lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Finally, Benchmark lowered their price target on shares of Baidu from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Ten equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Baidu currently has a consensus rating of “Hold” and an average price target of $113.75.

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.