Platinum Investment Management Ltd. Cuts Holdings in Baidu (NASDAQ:BIDU)

Platinum Investment Management Ltd. decreased its stake in Baidu (NASDAQ:BIDU) by 88.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,714 shares of the information services provider’s stock after selling 626,066 shares during the period. Platinum Investment Management Ltd.’s holdings in Baidu were worth $19,138,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Harding Loevner LP grew its holdings in shares of Baidu by 7,512.3% in the 3rd quarter. Harding Loevner LP now owns 299,359,034 shares of the information services provider’s stock valued at $597,992,000 after acquiring an additional 295,426,466 shares in the last quarter. Comgest Global Investors S.A.S. grew its holdings in shares of Baidu by 5.7% in the 4th quarter. Comgest Global Investors S.A.S. now owns 3,079,180 shares of the information services provider’s stock valued at $721,174,000 after acquiring an additional 166,800 shares in the last quarter. UBS Asset Management Americas Inc. grew its holdings in shares of Baidu by 4.5% in the 4th quarter. UBS Asset Management Americas Inc. now owns 3,038,645 shares of the information services provider’s stock valued at $711,681,000 after acquiring an additional 130,474 shares in the last quarter. OppenheimerFunds Inc. grew its holdings in shares of Baidu by 8.8% in the 4th quarter. OppenheimerFunds Inc. now owns 2,529,237 shares of the information services provider’s stock valued at $592,372,000 after acquiring an additional 204,004 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Baidu by 2.8% in the 4th quarter. Fisher Asset Management LLC now owns 1,770,476 shares of the information services provider’s stock valued at $414,663,000 after acquiring an additional 48,476 shares in the last quarter. Institutional investors own 63.16% of the company’s stock.

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Shares of BIDU stock opened at $219.82 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.84 and a quick ratio of 1.84. The company has a market cap of $77,778.27, a price-to-earnings ratio of 27.27, a P/E/G ratio of 1.39 and a beta of 1.88. Baidu has a 12-month low of $171.17 and a 12-month high of $274.97.

BIDU has been the subject of several analyst reports. ValuEngine upgraded Baidu from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Nomura downgraded shares of Baidu from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. Zacks Investment Research downgraded shares of Baidu from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. BidaskClub downgraded shares of Baidu from a “hold” rating to a “sell” rating in a research note on Friday, March 30th. Finally, Wells Fargo reiterated an “outperform” rating and issued a $200.00 target price (down from $275.00) on shares of Baidu in a research note on Monday, January 8th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Baidu currently has an average rating of “Buy” and an average target price of $256.22.

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Baidu Company Profile

Baidu, Inc provides Internet search services in China and internationally. It operates through two segments, Baidu Core and iQIYI. The Baidu Core segment offers products for uses, including Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services through mobile browsers; Baidu Feed that provides users with personalized timeline to meet their personal interests reflected in their past online behaviors, such as search and browsing, and their demographics; and Bear Paw Account that enables verified brands and businesses to aggregate their content from Websites, wapsites, and open-platform apps.

Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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