Baidu, Inc. $BIDU Shares Sold by CastleKnight Management LP

CastleKnight Management LP trimmed its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 61.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,300 shares of the information services provider’s stock after selling 75,900 shares during the period. CastleKnight Management LP’s holdings in Baidu were worth $6,311,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Central Asset Investments & Management Holdings HK Ltd acquired a new stake in shares of Baidu during the 4th quarter valued at approximately $2,626,000. Yarbrough Capital LLC acquired a new stake in shares of Baidu during the 4th quarter valued at approximately $1,697,000. Earnest Partners LLC lifted its position in shares of Baidu by 21.9% during the 3rd quarter. Earnest Partners LLC now owns 818,930 shares of the information services provider’s stock valued at $107,910,000 after acquiring an additional 146,992 shares during the period. TT International Asset Management LTD acquired a new stake in shares of Baidu during the 4th quarter valued at approximately $33,727,000. Finally, ARK Investment Management LLC lifted its position in shares of Baidu by 72.7% during the 3rd quarter. ARK Investment Management LLC now owns 508,388 shares of the information services provider’s stock valued at $66,990,000 after acquiring an additional 213,941 shares during the period.

Baidu Trading Down 1.0%

Shares of Baidu stock opened at $111.61 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.85 and a quick ratio of 1.85. Baidu, Inc. has a 1 year low of $83.30 and a 1 year high of $165.30. The company has a market capitalization of $37.98 billion, a P/E ratio of -930.01, a P/E/G ratio of 1.92 and a beta of 0.54. The business has a 50 day moving average price of $126.84 and a 200 day moving average price of $129.85.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BIDU. Zacks Research upgraded shares of Baidu from a “strong sell” rating to a “hold” rating in a research report on Monday. Wall Street Zen upgraded Baidu from a “sell” rating to a “hold” rating in a research report on Monday, May 25th. Zephirin Group lifted their price objective on Baidu from $88.00 to $89.00 and gave the stock a “sell” rating in a research report on Monday, March 2nd. Nomura lifted their price objective on Baidu from $186.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. Finally, Morgan Stanley lifted their price objective on Baidu from $135.00 to $140.00 in a research report on Tuesday, May 19th. One equities 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.