Ignite Planners LLC Boosts Stake in Baidu, Inc. (NASDAQ:BIDU)

Ignite Planners LLC increased its position in Baidu, Inc. (NASDAQ:BIDU) by 3.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,791 shares of the information services provider’s stock after buying an additional 139 shares during the period. Ignite Planners LLC’s holdings in Baidu were worth $411,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Crossmark Global Holdings Inc. lifted its position in shares of Baidu by 0.3% in the fourth quarter. Crossmark Global Holdings Inc. now owns 29,375 shares of the information services provider’s stock worth $3,498,000 after buying an additional 99 shares in the last quarter. Kingsview Wealth Management LLC increased its stake in Baidu by 5.8% during the fourth quarter. Kingsview Wealth Management LLC now owns 2,005 shares of the information services provider’s stock worth $239,000 after acquiring an additional 110 shares during the last quarter. Beacon Financial Group increased its stake in Baidu by 7.2% during the fourth quarter. Beacon Financial Group now owns 1,894 shares of the information services provider’s stock worth $226,000 after acquiring an additional 128 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Baidu by 14.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,560 shares of the information services provider’s stock worth $186,000 after acquiring an additional 201 shares during the last quarter. Finally, Private Advisor Group LLC increased its stake in Baidu by 5.2% during the fourth quarter. Private Advisor Group LLC now owns 4,207 shares of the information services provider’s stock worth $501,000 after acquiring an additional 207 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BIDU. Susquehanna cut their target price on Baidu from $150.00 to $135.00 and set a “positive” rating on the stock in a research note on Friday, May 24th. Benchmark reiterated a “buy” rating and issued a $180.00 price target on shares of Baidu in a report on Friday, May 17th. Morgan Stanley lowered Baidu from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $140.00 to $125.00 in a report on Friday, May 17th. Loop Capital lowered their target price on Baidu from $155.00 to $130.00 and set a “buy” rating for the company in a report on Friday. Finally, Macquarie lowered Baidu from a “strong-buy” rating to a “hold” rating in a report on Friday, May 17th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $156.64.

Baidu Price Performance

Shares of BIDU opened at $88.73 on Tuesday. The business’s 50-day moving average is $100.54 and its two-hundred day moving average is $105.20. The company has a market capitalization of $31.11 billion, a P/E ratio of 11.88 and a beta of 0.52. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.79 and a current ratio of 2.79. Baidu, Inc. has a fifty-two week low of $88.26 and a fifty-two week high of $156.98.

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.