Great Hill Capital LLC Trims Stake in Baidu, Inc. $BIDU

Great Hill Capital LLC lowered its position in Baidu, Inc. (NASDAQ:BIDU) by 98.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,235 shares of the information services provider’s stock after selling 1,022,450 shares during the period. Baidu makes up approximately 0.1% of Great Hill Capital LLC’s investment portfolio, making the stock its 24th biggest holding. Great Hill Capital LLC’s holdings in Baidu were worth $2,032,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Central Asset Investments & Management Holdings HK Ltd bought a new position in Baidu in the 4th quarter valued at $2,626,000. Yarbrough Capital LLC bought a new stake in shares of Baidu during the fourth quarter worth $1,697,000. Earnest Partners LLC lifted its position in shares of Baidu by 21.9% during the third quarter. Earnest Partners LLC now owns 818,930 shares of the information services provider’s stock worth $107,910,000 after purchasing an additional 146,992 shares during the last quarter. Clearline Capital LP purchased a new stake in shares of Baidu during the third quarter valued at $8,833,000. Finally, TT International Asset Management LTD bought a new position in shares of Baidu in the fourth quarter worth about $33,727,000.

Baidu Trading Down 0.1%

NASDAQ:BIDU opened at $114.28 on Tuesday. The firm has a 50-day simple moving average of $125.00 and a 200-day simple moving average of $128.85. Baidu, Inc. has a one year low of $84.64 and a one year high of $165.30. The firm has a market cap of $38.88 billion, a P/E ratio of -956.38, a P/E/G ratio of 1.93 and a beta of 0.56. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.85 and a current ratio of 1.85.

Wall Street Analyst Weigh In

Several research analysts recently commented on BIDU shares. Morgan Stanley raised their price target on shares of Baidu from $135.00 to $140.00 in a research note on Tuesday, May 19th. Zacks Research upgraded shares of Baidu from a “strong sell” rating to a “hold” rating in a research note on Monday, June 15th. Weiss Ratings lowered shares of Baidu from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, May 18th. Benchmark reaffirmed a “buy” rating and set a $215.00 price target on shares of Baidu in a research note on Tuesday, May 19th. Finally, BNP Paribas Exane began coverage on Baidu in a report on Wednesday, April 1st. They issued an “outperform” rating and a $161.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $162.58.

Baidu Company Profile

Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China’s leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.

Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.