42,000 Shares in Baidu, Inc. (NASDAQ:BIDU) Acquired by Itau Unibanco Holding S.A.

Itau Unibanco Holding S.A. acquired a new position in Baidu, Inc. (NASDAQ:BIDU) in the 3rd quarter, HoldingsChannel reports. The firm acquired 42,000 shares of the information services provider’s stock, valued at approximately $4,422,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. HighVista Strategies LLC lifted its stake in shares of Baidu by 28.7% in the 3rd quarter. HighVista Strategies LLC now owns 5,386 shares of the information services provider’s stock valued at $567,000 after purchasing an additional 1,200 shares during the period. Arizona PSPRS Trust bought a new stake in shares of Baidu in the third quarter worth $234,000. Erste Asset Management GmbH bought a new stake in shares of Baidu in the third quarter worth $1,897,000. ARGA Investment Management LP lifted its position in Baidu by 31.0% during the third quarter. ARGA Investment Management LP now owns 10,945 shares of the information services provider’s stock valued at $1,152,000 after purchasing an additional 2,591 shares in the last quarter. Finally, Hhlr Advisors LTD. purchased a new position in Baidu during the third quarter valued at $31,587,000.

Baidu Stock Up 1.7 %

Baidu stock opened at $86.52 on Tuesday. The business has a fifty day moving average of $93.53 and a two-hundred day moving average of $91.31. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.18. The firm has a market cap of $30.34 billion, a P/E ratio of 10.59, a P/E/G ratio of 1.12 and a beta of 0.46. Baidu, Inc. has a twelve month low of $78.95 and a twelve month high of $120.25.

Analysts Set New Price Targets

BIDU has been the topic of several research analyst reports. China Renaissance downgraded Baidu from a “buy” rating to a “hold” rating and set a $86.00 price objective on the stock. in a research report on Monday, November 25th. Susquehanna downgraded Baidu from a “positive” rating to a “neutral” rating and decreased their target price for the stock from $105.00 to $85.00 in a research report on Monday, November 25th. Sanford C. Bernstein downgraded Baidu from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $130.00 to $97.00 in a research report on Friday, August 23rd. HSBC cut Baidu from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a research note on Tuesday, September 24th. Finally, Mizuho reduced their price objective on Baidu from $130.00 to $115.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $113.75.

Baidu 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.