Mirae Asset Global Investments Co. Ltd. Sells 314,363 Shares of Baidu, Inc. $BIDU

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in shares of Baidu, Inc. (NASDAQ:BIDU) by 77.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 92,485 shares of the information services provider’s stock after selling 314,363 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Baidu were worth $12,187,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of BIDU. Blue Trust Inc. grew its stake in shares of Baidu by 2.0% during the 3rd quarter. Blue Trust Inc. now owns 4,378 shares of the information services provider’s stock valued at $577,000 after acquiring an additional 85 shares during the period. Silver Oak Securities Incorporated lifted its holdings in shares of Baidu by 4.0% in the third quarter. Silver Oak Securities Incorporated now owns 2,969 shares of the information services provider’s stock worth $391,000 after buying an additional 114 shares in the last quarter. Redwood Wealth Management Group LLC lifted its stake in Baidu by 3.8% in the 2nd quarter. Redwood Wealth Management Group LLC now owns 4,117 shares of the information services provider’s stock worth $353,000 after purchasing an additional 150 shares in the last quarter. Vident Advisory LLC lifted its position in shares of Baidu by 5.6% in the second quarter. Vident Advisory LLC now owns 4,234 shares of the information services provider’s stock worth $363,000 after buying an additional 224 shares in the last quarter. Finally, Yousif Capital Management LLC raised its holdings in shares of Baidu by 5.2% during the 2nd quarter. Yousif Capital Management LLC now owns 4,539 shares of the information services provider’s stock worth $389,000 after acquiring an additional 225 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Nomura upped their target price on shares of Baidu from $178.00 to $196.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Benchmark reiterated a “buy” rating on shares of Baidu in a research note on Monday, January 12th. Wall Street Zen downgraded shares of Baidu from a “hold” rating to a “sell” rating in a research note on Saturday. UBS Group set a $215.00 price target on Baidu in a research report on Monday, January 12th. Finally, Citigroup reissued a “buy” rating on shares of Baidu in a report on Tuesday, January 13th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $155.78.

Baidu Trading Down 2.7%

NASDAQ BIDU opened at $153.18 on Friday. Baidu, Inc. has a 12-month low of $74.71 and a 12-month high of $165.30. The stock has a market cap of $52.92 billion, a P/E ratio of 50.89 and a beta of 0.30. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. The company has a fifty day simple moving average of $135.21 and a two-hundred day simple moving average of $119.14.

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.