Sei Investments Co. Lowers Stake in Baidu, Inc. (NASDAQ:BIDU)

Sei Investments Co. trimmed its position in Baidu, Inc. (NASDAQ:BIDU) by 28.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 159,293 shares of the information services provider’s stock after selling 63,416 shares during the quarter. Sei Investments Co.’s holdings in Baidu were worth $13,430,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of BIDU. Appaloosa LP raised its holdings in 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 buying an additional 102,909 shares during the period. CoreView Capital Management Ltd boosted its position in Baidu by 15.6% during the 3rd quarter. CoreView Capital Management Ltd now owns 1,236,783 shares of the information services provider’s stock worth $130,221,000 after purchasing an additional 166,618 shares during the period. North of South Capital LLP increased its holdings in Baidu by 18.9% in the 4th quarter. North of South Capital LLP now owns 614,847 shares of the information services provider’s stock valued at $51,838,000 after purchasing an additional 97,549 shares in the last quarter. Maple Rock Capital Partners Inc. purchased a new position in Baidu in the third quarter valued at about $42,748,000. Finally, SG Americas Securities LLC lifted its stake in shares of Baidu by 147.5% during the fourth quarter. SG Americas Securities LLC now owns 381,456 shares of the information services provider’s stock worth $32,161,000 after purchasing an additional 227,338 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on BIDU shares. Barclays raised their target price on Baidu from $83.00 to $95.00 and gave the company an “equal weight” rating in a report on Tuesday, February 11th. Daiwa Capital Markets reiterated an “outperform” rating on shares of Baidu in a research note on Tuesday, February 18th. Mizuho upped their target price on shares of Baidu from $95.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Benchmark reaffirmed a “buy” rating and set a $130.00 target price on shares of Baidu in a research report on Wednesday, February 19th. Finally, StockNews.com lowered Baidu from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $111.25.

Baidu Price Performance

Shares of NASDAQ:BIDU opened at $93.37 on Friday. The company has a market cap of $32.74 billion, a PE ratio of 10.18, a P/E/G ratio of 2.96 and a beta of 0.47. Baidu, Inc. has a fifty-two week low of $77.20 and a fifty-two week high of $116.25. The firm has a 50-day simple moving average of $91.61 and a 200 day simple moving average of $90.33. The company has a quick ratio of 2.19, a current ratio of 2.09 and a debt-to-equity ratio of 0.19.

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.