Baidu Inc (BIDU) Shares Sold by Pitcairn Co.

Pitcairn Co. decreased its position in shares of Baidu Inc (NASDAQ:BIDU) by 52.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,658 shares of the information services provider’s stock after selling 2,973 shares during the quarter. Pitcairn Co.’s holdings in Baidu were worth $608,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Federated Investors Inc. PA purchased a new stake in shares of Baidu during the 2nd quarter worth approximately $108,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Baidu during the 2nd quarter worth approximately $119,000. Bartlett & Co. LLC boosted its stake in shares of Baidu by 71.0% during the 2nd quarter. Bartlett & Co. LLC now owns 530 shares of the information services provider’s stock worth $129,000 after acquiring an additional 220 shares in the last quarter. Centaurus Financial Inc. purchased a new stake in shares of Baidu during the 2nd quarter worth approximately $150,000. Finally, CENTRAL TRUST Co boosted its stake in shares of Baidu by 116.0% during the 3rd quarter. CENTRAL TRUST Co now owns 741 shares of the information services provider’s stock worth $170,000 after acquiring an additional 398 shares in the last quarter. 60.90% of the stock is currently owned by institutional investors and hedge funds.

Shares of BIDU opened at $192.44 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.19 and a quick ratio of 2.19. The firm has a market capitalization of $67.51 billion, a price-to-earnings ratio of 23.88, a price-to-earnings-growth ratio of 0.97 and a beta of 1.61. Baidu Inc has a fifty-two week low of $177.80 and a fifty-two week high of $284.22.

Several equities research analysts have recently commented on the company. BidaskClub raised Baidu from a “hold” rating to a “buy” rating in a research note on Thursday, July 12th. Credit Suisse Group set a $246.00 target price on Baidu and gave the company a “buy” rating in a research note on Wednesday, October 31st. Zacks Investment Research lowered Baidu from a “hold” rating to a “sell” rating in a research note on Wednesday, July 11th. ValuEngine lowered Baidu from a “hold” rating to a “sell” rating in a research note on Thursday, September 6th. Finally, Nomura reduced their target price on Baidu from $283.00 to $206.00 and set a “neutral” rating on the stock in a research note on Thursday, November 1st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company’s stock. Baidu has a consensus rating of “Buy” and an average price target of $278.86.

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Baidu Company Profile

Baidu, Inc provides Internet search services in China and internationally. It operates through two segments, Baidu Core and iQIYI. The Baidu Core segment offers products for uses, including Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services through mobile browsers; Baidu Feed that provides users with personalized timeline to meet their personal interests reflected in their past online behaviors, such as search and browsing, and their demographics; and Bear Paw Account that enables verified brands and businesses to aggregate their content from Websites, wapsites, and open-platform apps.

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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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