First Trust Direct Indexing L.P. Sells 849 Shares of Baidu, Inc. (NASDAQ:BIDU)

First Trust Direct Indexing L.P. lowered its holdings in shares of Baidu, Inc. (NASDAQ:BIDU) by 22.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,928 shares of the information services provider’s stock after selling 849 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Baidu were worth $349,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. ANTIPODES PARTNERS Ltd grew its stake in shares of Baidu by 25.7% during the third quarter. ANTIPODES PARTNERS Ltd now owns 1,322,669 shares of the information services provider’s stock valued at $175,187,000 after buying an additional 270,187 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of Baidu by 15.3% in the third quarter. Federated Hermes Inc. now owns 1,794,387 shares of the information services provider’s stock worth $241,076,000 after purchasing an additional 238,374 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Baidu by 63.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 288,573 shares of the information services provider’s stock worth $38,770,000 after buying an additional 111,755 shares during the period. CI Investments Inc. bought a new stake in Baidu during the 3rd quarter valued at $14,916,000. Finally, International Assets Investment Management LLC purchased a new stake in Baidu during the 4th quarter valued at $12,225,000.

Baidu Stock Down 0.1 %

BIDU stock opened at $113.33 on Tuesday. The business has a 50 day moving average of $103.06 and a 200 day moving average of $108.07. The firm has a market cap of $39.74 billion, a PE ratio of 14.68 and a beta of 0.68. Baidu, Inc. has a twelve month low of $94.25 and a twelve month high of $156.98. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.23.

Analyst Upgrades and Downgrades

BIDU has been the topic of a number of analyst reports. HSBC decreased their price objective on shares of Baidu from $157.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, April 24th. Benchmark lowered their price target on Baidu from $210.00 to $180.00 and set a “buy” rating for the company in a research report on Monday. Citigroup cut their price objective on Baidu from $181.00 to $176.00 and set a “buy” rating on the stock in a research report on Tuesday, April 9th. Barclays decreased their target price on Baidu from $138.00 to $133.00 and set an “overweight” rating for the company in a report on Thursday, February 29th. Finally, StockNews.com downgraded shares of Baidu from a “buy” rating to a “hold” rating in a research report on Saturday, March 23rd. One equities research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $169.50.

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.