Ping Capital Management Inc. Purchases 7,500 Shares of Baidu, Inc. (NASDAQ:BIDU)

Ping Capital Management Inc. grew its holdings in Baidu, Inc. (NASDAQ:BIDU) by 300.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,000 shares of the information services provider’s stock after purchasing an additional 7,500 shares during the quarter. Ping Capital Management Inc.’s holdings in Baidu were worth $843,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its stake in Baidu by 630.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock worth $72,000 after acquiring an additional 593 shares during the last quarter. World Investment Advisors LLC bought a new stake in shares of Baidu in the 3rd quarter valued at $72,000. Grove Bank & Trust raised its stake in Baidu by 21.6% during the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock worth $77,000 after buying an additional 130 shares during the period. Transamerica Financial Advisors Inc. bought a new position in Baidu during the third quarter worth about $82,000. Finally, Denver PWM LLC increased its holdings in shares of Baidu by 28.5% in the third quarter. Denver PWM LLC now owns 991 shares of the information services provider’s stock worth $104,000 after acquiring an additional 220 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. China Renaissance cut Baidu from a “buy” rating to a “hold” rating and set a $86.00 target price for the company. in a research note on Monday, November 25th. JPMorgan Chase & Co. lowered shares of Baidu from an “overweight” rating to a “neutral” rating in a research note on Wednesday, November 27th. Citigroup cut their price target on Baidu from $142.00 to $141.00 and set a “buy” rating on the stock in a report on Friday, November 29th. Mizuho dropped their target price on Baidu from $130.00 to $115.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Finally, Barclays downgraded shares of Baidu from an “overweight” rating to an “equal weight” rating in a research note on Friday, November 22nd. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Baidu currently has a consensus rating of “Hold” and a consensus target price of $113.75.

Baidu Price Performance

BIDU stock opened at $92.88 on Wednesday. Baidu, Inc. has a 1 year low of $77.19 and a 1 year high of $116.25. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.19 and a quick ratio of 2.19. The stock has a market cap of $32.57 billion, a price-to-earnings ratio of 11.37, a P/E/G ratio of 2.08 and a beta of 0.46. The company has a 50 day simple moving average of $85.75 and a 200 day simple moving average of $88.54.

About Baidu

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.