Harvest Fund Management Co. Ltd Sells 17,000 Shares of Baidu, Inc. (NASDAQ:BIDU)

Harvest Fund Management Co. Ltd reduced its position in shares of Baidu, Inc. (NASDAQ:BIDU) by 92.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,400 shares of the information services provider’s stock after selling 17,000 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Baidu were worth $118,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tejara Capital Ltd bought a new stake in Baidu during the fourth quarter worth $2,335,000. Natixis Advisors LLC raised its position in shares of Baidu by 123.3% in the fourth quarter. Natixis Advisors LLC now owns 37,556 shares of the information services provider’s stock valued at $3,166,000 after purchasing an additional 20,734 shares during the period. Monaco Asset Management SAM raised its position in shares of Baidu by 48.7% in the fourth quarter. Monaco Asset Management SAM now owns 181,371 shares of the information services provider’s stock valued at $15,291,000 after purchasing an additional 59,401 shares during the period. Appaloosa LP raised its position in shares of Baidu by 7.2% in the fourth quarter. Appaloosa LP now owns 1,527,909 shares of the information services provider’s stock valued at $128,818,000 after purchasing an additional 102,909 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Baidu in the fourth quarter valued at about $615,000.

Baidu Trading Up 0.3 %

Shares of Baidu stock opened at $94.54 on Friday. The company has a market capitalization of $33.15 billion, a price-to-earnings ratio of 10.31, a PEG ratio of 2.96 and a beta of 0.47. The company has a quick ratio of 2.19, a current ratio of 2.09 and a debt-to-equity ratio of 0.19. Baidu, Inc. has a 12-month low of $77.20 and a 12-month high of $116.25. The firm’s 50-day moving average price is $90.06 and its two-hundred day moving average price is $89.90.

Analyst Ratings Changes

Several equities analysts have recently weighed in on BIDU shares. Mizuho increased their price objective on shares of Baidu from $95.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Citigroup dropped their price objective on shares of Baidu from $142.00 to $141.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. JPMorgan Chase & Co. lowered shares of Baidu from an “overweight” rating to a “neutral” rating in a research report on Wednesday, November 27th. Daiwa Capital Markets reaffirmed an “outperform” rating on shares of Baidu in a research report on Tuesday, February 18th. Finally, Nomura Securities lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Thirteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $111.25.

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.