Harvest Fund Management Co. Ltd Sells 17,000 Shares of Baidu, Inc. (NASDAQ:BIDU)

Harvest Fund Management Co. Ltd trimmed its holdings in shares of Baidu, Inc. (NASDAQ:BIDU) by 92.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,400 shares of the information services provider’s stock after selling 17,000 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Baidu were worth $118,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of BIDU. Maple Rock Capital Partners Inc. bought a new stake in shares of Baidu during the third quarter worth approximately $42,748,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Baidu during the third quarter worth approximately $36,272,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Baidu by 1,111.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 360,378 shares of the information services provider’s stock valued at $30,317,000 after purchasing an additional 330,627 shares in the last quarter. Hhlr Advisors LTD. bought a new stake in Baidu in the third quarter valued at approximately $31,587,000. Finally, SG Americas Securities LLC increased its stake in Baidu by 147.5% in the fourth quarter. SG Americas Securities LLC now owns 381,456 shares of the information services provider’s stock valued at $32,161,000 after purchasing an additional 227,338 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have commented on BIDU shares. Barclays upped their target price on shares of Baidu from $83.00 to $95.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. Nomura Securities downgraded shares of Baidu from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Benchmark reaffirmed a “buy” rating and issued a $130.00 target price on shares of Baidu in a research note on Wednesday, February 19th. Citigroup lowered their target price on shares of Baidu from $142.00 to $141.00 and set a “buy” rating for the company in a research note on Friday, November 29th. Finally, Daiwa Capital Markets reiterated an “outperform” rating on shares of Baidu in a report on Tuesday, February 18th. Thirteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $111.25.

Baidu Stock Performance

Shares of BIDU opened at $94.54 on Friday. Baidu, Inc. has a 12 month low of $77.20 and a 12 month high of $116.25. The firm has a fifty day simple moving average of $90.06 and a 200 day simple moving average of $89.90. The stock has a market capitalization of $33.15 billion, a price-to-earnings ratio of 10.31, a PEG ratio of 2.96 and a beta of 0.47. The company has a current ratio of 2.09, a quick ratio of 2.19 and a debt-to-equity ratio of 0.19.

Baidu Company 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.