Penserra Capital Management LLC Sells 521 Shares of Baidu, Inc. (NASDAQ:BIDU)

Penserra Capital Management LLC trimmed its position in Baidu, Inc. (NASDAQ:BIDU) by 1.2% during the third quarter, HoldingsChannel.com reports. The fund owned 44,290 shares of the information services provider’s stock after selling 521 shares during the quarter. Penserra Capital Management LLC’s holdings in Baidu were worth $4,663,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BIDU. Guinness Asset Management LTD increased its stake in shares of Baidu by 4.4% in the 2nd quarter. Guinness Asset Management LTD now owns 2,360 shares of the information services provider’s stock valued at $204,000 after purchasing an additional 100 shares during the last quarter. Grove Bank & Trust grew its holdings in shares of Baidu by 21.6% during the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock valued at $77,000 after purchasing an additional 130 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Baidu by 5.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,818 shares of the information services provider’s stock valued at $297,000 after purchasing an additional 140 shares during the last quarter. Blue Trust Inc. increased its position in Baidu by 9.0% during the 2nd quarter. Blue Trust Inc. now owns 2,078 shares of the information services provider’s stock worth $180,000 after purchasing an additional 171 shares in the last quarter. Finally, Intellectus Partners LLC lifted its stake in Baidu by 1.5% in the 3rd quarter. Intellectus Partners LLC now owns 16,538 shares of the information services provider’s stock valued at $1,741,000 after purchasing an additional 250 shares during the last quarter.

Analysts Set New Price Targets

BIDU has been the topic of a number of research reports. Barclays cut shares of Baidu from an “overweight” rating to an “equal weight” rating in a research note on Friday. Susquehanna dropped their target price on Baidu from $135.00 to $105.00 and set a “positive” rating for the company in a research report on Thursday, September 5th. Bank of America reduced their price target on Baidu from $128.00 to $117.00 and set a “buy” 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 Friday, October 25th. Finally, Jefferies Financial Group reduced their target price on shares of Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Baidu presently has a consensus rating of “Hold” and an average price target of $119.36.

Baidu Trading Down 1.6 %

Shares of Baidu stock opened at $80.33 on Monday. The stock has a market capitalization of $28.17 billion, a PE ratio of 9.83 and a beta of 0.51. Baidu, Inc. has a 52 week low of $78.95 and a 52 week high of $126.23. The stock has a 50 day moving average price of $93.70 and a two-hundred day moving average price of $92.42. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.32 and a current ratio of 2.32.

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.