Baidu, Inc. $BIDU Shares Sold by Nan Fung Trinity HK Ltd.

Nan Fung Trinity HK Ltd. lessened its stake in Baidu, Inc. (NASDAQ:BIDU) by 49.3% in the third quarter, HoldingsChannel reports. The firm owned 246,421 shares of the information services provider’s stock after selling 239,400 shares during the period. Baidu accounts for about 3.2% of Nan Fung Trinity HK Ltd.’s holdings, making the stock its 6th biggest position. Nan Fung Trinity HK Ltd.’s holdings in Baidu were worth $32,471,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BIDU. Capital Advisors Inc. OK bought a new position in Baidu during the 2nd quarter worth approximately $1,715,000. Fluent Financial LLC raised its holdings in Baidu by 16.2% in the second quarter. Fluent Financial LLC now owns 23,606 shares of the information services provider’s stock worth $2,024,000 after purchasing an additional 3,286 shares during the period. Voya Investment Management LLC bought a new position in shares of Baidu during the third quarter worth $2,027,000. ARK Investment Management LLC boosted its position in shares of Baidu by 129.4% during the second quarter. ARK Investment Management LLC now owns 294,447 shares of the information services provider’s stock worth $25,252,000 after purchasing an additional 166,088 shares in the last quarter. Finally, Greenwood Capital Associates LLC grew its holdings in shares of Baidu by 36.9% in the 2nd quarter. Greenwood Capital Associates LLC now owns 38,976 shares of the information services provider’s stock valued at $3,343,000 after buying an additional 10,501 shares during the period.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Jefferies Financial Group lifted their target price on Baidu from $159.00 to $181.00 and gave the stock a “buy” rating in a report on Friday, January 2nd. UBS Group set a $215.00 price objective on Baidu in a report on Monday, January 12th. JPMorgan Chase & Co. raised Baidu from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $110.00 to $188.00 in a research note on Monday, November 24th. Bank of America raised their target price on shares of Baidu from $100.00 to $151.00 and gave the stock a “buy” rating in a report on Wednesday, November 19th. Finally, Barclays upped their price target on shares of Baidu from $100.00 to $147.00 and gave the company an “equal weight” rating in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $155.78.

Baidu Trading Down 2.7%

NASDAQ BIDU opened at $153.18 on Friday. Baidu, Inc. has a 52 week low of $74.71 and a 52 week high of $165.30. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 1.91. The stock’s 50 day moving average price is $135.21 and its two-hundred day moving average price is $119.14. The stock has a market capitalization of $52.92 billion, a price-to-earnings ratio of 50.89 and a beta of 0.30.

About Baidu

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.