Cubist Systematic Strategies LLC Grows Position in Baidu, Inc. (BIDU)

Cubist Systematic Strategies LLC boosted its holdings in Baidu, Inc. (NASDAQ:BIDU) by 28.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,896 shares of the information services provider’s stock after acquiring an additional 864 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Baidu were worth $697,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of BIDU. BlackRock Inc. raised its position in Baidu by 4,625.7% in the first quarter. BlackRock Inc. now owns 11,974,528 shares of the information services provider’s stock worth $2,065,846,000 after acquiring an additional 11,721,135 shares in the last quarter. Capital World Investors raised its position in Baidu by 54.2% in the second quarter. Capital World Investors now owns 9,726,375 shares of the information services provider’s stock worth $1,739,659,000 after acquiring an additional 3,419,291 shares in the last quarter. Harris Associates L P raised its position in Baidu by 29.7% in the second quarter. Harris Associates L P now owns 9,015,196 shares of the information services provider’s stock worth $1,612,458,000 after acquiring an additional 2,066,614 shares in the last quarter. Cambiar Investors LLC bought a new stake in Baidu in the second quarter worth about $274,670,000. Finally, Veritas Asset Management LLP raised its position in Baidu by 37.1% in the second quarter. Veritas Asset Management LLP now owns 3,404,298 shares of the information services provider’s stock worth $608,893,000 after acquiring an additional 920,687 shares in the last quarter. Hedge funds and other institutional investors own 64.14% of the company’s stock.

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A number of equities analysts recently weighed in on BIDU shares. HSBC Holdings plc reissued a “buy” rating and issued a $223.00 price target on shares of Baidu in a research note on Monday, July 10th. Sanford C. Bernstein reissued an “underperform” rating and issued a $152.00 price target (down previously from $188.00) on shares of Baidu in a research note on Friday, July 14th. Jefferies Group LLC reissued a “buy” rating and issued a $208.00 price target on shares of Baidu in a research note on Saturday, July 22nd. Deutsche Bank AG reissued a “hold” rating and issued a $201.00 price target (up previously from $186.00) on shares of Baidu in a research note on Wednesday, July 26th. Finally, Cantor Fitzgerald raised Baidu from an “underweight” rating to an “overweight” rating and lifted their price target for the stock from $156.00 to $260.00 in a research note on Friday, July 28th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $229.45.

Baidu, Inc. (NASDAQ:BIDU) traded down 8.15% during midday trading on Friday, reaching $239.37. The company had a trading volume of 10,851,282 shares. The company has a market cap of $83.00 billion, a PE ratio of 43.63 and a beta of 1.99. Baidu, Inc. has a 52-week low of $159.54 and a 52-week high of $274.97. The company’s 50-day moving average is $247.99 and its 200 day moving average is $208.29.

About Baidu

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.

Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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