DRW Securities LLC Invests $1 Million in Baidu, Inc. (NASDAQ:BIDU)

DRW Securities LLC acquired a new position in shares of Baidu, Inc. (NASDAQ:BIDU) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 9,498 shares of the information services provider’s stock, valued at approximately $1,000,000.

Several other institutional investors also recently modified their holdings of BIDU. iA Global Asset Management Inc. bought a new position in shares of Baidu during the 2nd quarter worth approximately $52,000. Allspring Global Investments Holdings LLC lifted its position in shares of 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 buying an additional 593 shares during the period. Grove Bank & Trust lifted its position in shares of 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. Denver PWM LLC bought a new position in shares of Baidu during the 2nd quarter worth approximately $67,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Baidu by 102.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,098 shares of the information services provider’s stock worth $97,000 after buying an additional 555 shares during the period.

Baidu Trading Up 2.9 %

BIDU stock opened at $82.67 on Tuesday. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.18. Baidu, Inc. has a twelve month low of $78.95 and a twelve month high of $126.23. The business has a fifty day moving average of $93.67 and a 200-day moving average of $92.22. The company has a market cap of $28.99 billion, a P/E ratio of 10.12, a PEG ratio of 1.03 and a beta of 0.51.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on BIDU shares. Mizuho cut their target price on Baidu from $130.00 to $115.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Sanford C. Bernstein downgraded Baidu from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $130.00 to $97.00 in a research report on Friday, August 23rd. China Renaissance downgraded Baidu from a “buy” rating to a “hold” rating and set a $86.00 price objective for the company. in a research report on Monday. Susquehanna downgraded Baidu from a “positive” rating to a “neutral” rating and cut their price objective for the company from $105.00 to $85.00 in a research report on Monday. Finally, HSBC downgraded Baidu from a “buy” rating to a “hold” rating and set a $100.00 price objective for the company. in a research report on Tuesday, September 24th. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $114.92.

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.