iQIYI, Inc. (NASDAQ:IQ) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. cut its holdings in shares of iQIYI, Inc. (NASDAQ:IQ) by 1.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 793,401 shares of the company’s stock after selling 7,994 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in iQIYI were worth $3,872,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Krane Funds Advisors LLC lifted its position in iQIYI by 14.6% during the third quarter. Krane Funds Advisors LLC now owns 18,727,393 shares of the company’s stock worth $88,768,000 after buying an additional 2,391,948 shares during the period. Vanguard Group Inc. increased its stake in iQIYI by 1.6% during the third quarter. Vanguard Group Inc. now owns 17,586,474 shares of the company’s stock worth $83,360,000 after acquiring an additional 269,491 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in iQIYI by 1,117.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 17,356,739 shares of the company’s stock worth $82,271,000 after acquiring an additional 15,931,422 shares during the last quarter. SCEP Management Ltd increased its stake in iQIYI by 22.3% during the third quarter. SCEP Management Ltd now owns 15,000,000 shares of the company’s stock worth $71,100,000 after acquiring an additional 2,731,681 shares during the last quarter. Finally, Federated Hermes Inc. increased its stake in iQIYI by 147.8% during the third quarter. Federated Hermes Inc. now owns 10,603,420 shares of the company’s stock worth $50,260,000 after acquiring an additional 6,324,876 shares during the last quarter. 52.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, OTR Global restated a “mixed” rating on shares of iQIYI in a research note on Thursday, April 4th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $6.54.

iQIYI Price Performance

IQ stock opened at $4.58 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.57 and a current ratio of 0.57. iQIYI, Inc. has a 1 year low of $3.06 and a 1 year high of $6.56. The firm has a market cap of $4.39 billion, a P/E ratio of 20.82 and a beta of 0.27. The stock has a 50-day simple moving average of $4.00 and a 200-day simple moving average of $4.29.

iQIYI (NASDAQ:IQ) last posted its earnings results on Wednesday, February 28th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.08. iQIYI had a return on equity of 13.56% and a net margin of 4.76%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.08 billion. On average, equities analysts predict that iQIYI, Inc. will post 0.38 earnings per share for the current fiscal year.

iQIYI Profile

iQIYI, Inc, together with its subsidiaries, provides online entertainment video services in the People's Republic of China. It offers various products and services, including online video, online games, online literature, animations, and other products. The company operates a platform that provides a collection of internet video content, such as professionally produced content licensed from professional content providers and self-produced content.