SRN Advisors LLC Acquires 2,070 Shares of Baidu, Inc. (NASDAQ:BIDU)

SRN Advisors LLC grew its holdings in shares of Baidu, Inc. (NASDAQ:BIDU) by 13.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,764 shares of the information services provider’s stock after acquiring an additional 2,070 shares during the period. Baidu comprises approximately 1.3% of SRN Advisors LLC’s holdings, making the stock its 26th largest position. SRN Advisors LLC’s holdings in Baidu were worth $1,536,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Aristides Capital LLC bought a new stake in Baidu during the 2nd quarter worth approximately $1,081,000. Truist Financial Corp raised its position in shares of Baidu by 3.3% during the 2nd quarter. Truist Financial Corp now owns 61,396 shares of the information services provider’s stock valued at $5,310,000 after purchasing an additional 1,956 shares during the period. B. Riley Wealth Advisors Inc. purchased a new position in shares of Baidu during the 2nd quarter valued at $606,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Baidu by 4.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 11,717 shares of the information services provider’s stock worth $1,013,000 after buying an additional 465 shares during the period. Finally, Creative Planning increased its stake in Baidu by 84.5% in the 2nd quarter. Creative Planning now owns 48,078 shares of the information services provider’s stock worth $4,158,000 after buying an additional 22,020 shares in the last quarter.

Analyst Ratings Changes

Several brokerages have recently commented on BIDU. Bank of America lowered their price objective on Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. Barclays lowered their price target on Baidu from $125.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, August 23rd. StockNews.com lowered shares of Baidu from a “buy” rating to a “hold” rating in a report on Tuesday, July 16th. HSBC downgraded shares of Baidu from a “buy” rating to a “hold” rating and set a $100.00 target price on the stock. in a report on Tuesday, September 24th. Finally, Sanford C. Bernstein cut shares of Baidu from an “outperform” rating to a “market perform” rating and cut their target price for the company from $130.00 to $97.00 in a research note on Friday, August 23rd. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Baidu presently has an average rating of “Moderate Buy” and a consensus price target of $132.13.

Baidu Price Performance

NASDAQ:BIDU opened at $110.28 on Wednesday. The firm has a market capitalization of $38.67 billion, a price-to-earnings ratio of 14.76 and a beta of 0.48. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.32 and a quick ratio of 2.32. The business has a 50 day simple moving average of $87.45 and a 200-day simple moving average of $95.08. Baidu, Inc. has a 1 year low of $79.68 and a 1 year high of $135.85.

Baidu 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.