Investors Sell Baidu Inc. (BIDU) on Strength (BIDU)
Investors sold shares of Baidu Inc. (NASDAQ:BIDU) on strength during trading on Wednesday. $281.32 million flowed into the stock on the tick-up and $312.17 million flowed out of the stock on the tick-down, for a money net flow of $30.85 million out of the stock. Of all stocks tracked, Baidu had the 0th highest net out-flow for the day. Baidu traded up $9.66 for the day and closed at $196.03
BIDU has been the topic of several recent research reports. Deutsche Bank AG lifted their target price on shares of Baidu from $182.00 to $219.00 and gave the company a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. initiated coverage on shares of Baidu in a report on Wednesday, August 31st. They set an “underweight” rating and a $164.00 target price on the stock. Brean Capital restated a “buy” rating on shares of Baidu in a report on Tuesday, June 7th. Vetr raised shares of Baidu from a “sell” rating to a “hold” rating and set a $192.71 price target on the stock in a research note on Thursday, September 8th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $203.00 price target on shares of Baidu in a research note on Tuesday, June 7th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the company’s stock. Baidu currently has an average rating of “Buy” and an average target price of $196.19.
The company has a 50 day moving average price of $176.34 and a 200-day moving average price of $174.80. The firm has a market cap of $67.94 billion, a price-to-earnings ratio of 14.44 and a beta of 2.30.
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Institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Baidu by 39.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 360,156 shares of the company’s stock worth $68,747,000 after buying an additional 101,157 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Baidu by 18.2% in the first quarter. Geode Capital Management LLC now owns 176,727 shares of the company’s stock worth $33,606,000 after buying an additional 27,176 shares in the last quarter. Scopia Capital Management LP boosted its position in shares of Baidu by 2.3% in the first quarter. Scopia Capital Management LP now owns 2,348,977 shares of the company’s stock worth $448,373,000 after buying an additional 53,066 shares in the last quarter. TCI Fund Management Ltd. boosted its position in shares of Baidu by 2.8% in the first quarter. TCI Fund Management Ltd. now owns 1,194,094 shares of the company’s stock worth $227,929,000 after buying an additional 32,261 shares in the last quarter. Finally, Cortland Associates Inc. MO boosted its position in shares of Baidu by 39.5% in the second quarter. Cortland Associates Inc. MO now owns 155,364 shares of the company’s stock worth $25,658,000 after buying an additional 43,968 shares in the last quarter. Institutional investors own 63.21% of the company’s stock.
Baidu, Inc is a Chinese language Internet search provider. The Company offers a Chinese language search platform on its Baidu.com Website that enables users to find information online, including Webpages, news, images, documents and multimedia files, through links provided on its Website. In addition to serving individual Internet search users, the Company provides a platform for businesses to reach customers.
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