Penserra Capital Management LLC Raises Holdings in Baidu, Inc. (NASDAQ:BIDU)

Penserra Capital Management LLC raised its stake in Baidu, Inc. (NASDAQ:BIDU) by 41.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 182,966 shares of the information services provider’s stock after buying an additional 53,219 shares during the quarter. Penserra Capital Management LLC owned about 0.05% of Baidu worth $16,838,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Dodge & Cox raised its position in Baidu by 0.4% in the fourth quarter. Dodge & Cox now owns 5,916,215 shares of the information services provider’s stock valued at $498,796,000 after purchasing an additional 22,000 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in Baidu by 1,377.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,324,728 shares of the information services provider’s stock worth $490,035,000 after acquiring an additional 4,964,350 shares in the last quarter. Pictet Asset Management Holding SA boosted its holdings in Baidu by 9.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,410,307 shares of the information services provider’s stock valued at $203,213,000 after acquiring an additional 207,966 shares during the period. Appaloosa LP grew its position in Baidu by 7.2% in the 4th quarter. Appaloosa LP now owns 1,527,909 shares of the information services provider’s stock valued at $128,818,000 after acquiring an additional 102,909 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Baidu by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,350,315 shares of the information services provider’s stock valued at $113,845,000 after purchasing an additional 4,236 shares during the period.

Baidu Trading Down 0.1%

Shares of NASDAQ:BIDU opened at $86.37 on Friday. The company’s 50-day moving average price is $86.77 and its two-hundred day moving average price is $87.60. Baidu, Inc. has a one year low of $74.71 and a one year high of $116.25. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.29 and a quick ratio of 2.29. The stock has a market capitalization of $29.83 billion, a PE ratio of 8.57 and a beta of 0.33.

Analysts Set New Price Targets

Several equities analysts have commented on BIDU shares. Citigroup decreased their price objective on Baidu from $139.00 to $138.00 and set a “buy” rating for the company in a research note on Thursday, May 22nd. Benchmark dropped their price objective on Baidu from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, May 22nd. Macquarie restated a “neutral” rating on shares of Baidu in a research note on Wednesday, May 21st. Sanford C. Bernstein restated a “market perform” rating on shares of Baidu in a research report on Saturday, March 8th. Finally, Barclays set a $84.00 target price on shares of Baidu and gave the stock an “equal weight” rating in a research note on Thursday, May 22nd. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $107.82.

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.