Baidu, Inc. (NASDAQ:BIDU) Shares Sold by Shellback Capital LP

Shellback Capital LP lowered its position in shares of Baidu, Inc. (NASDAQ:BIDU) by 81.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,000 shares of the information services provider’s stock after selling 65,000 shares during the quarter. Shellback Capital LP’s holdings in Baidu were worth $1,297,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Crewe Advisors LLC purchased a new stake in shares of Baidu during the first quarter worth approximately $31,000. iA Global Asset Management Inc. acquired a new stake in Baidu during the 2nd quarter worth $52,000. Silicon Valley Capital Partners purchased a new stake in shares of Baidu during the first quarter worth $53,000. Accent Capital Management LLC acquired a new stake in shares of Baidu in the fourth quarter valued at about $66,000. Finally, Denver PWM LLC purchased a new position in shares of Baidu in the second quarter worth about $67,000.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BIDU shares. Benchmark dropped their price objective on shares of Baidu from $180.00 to $135.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Sanford C. Bernstein cut Baidu from an “outperform” rating to a “market perform” rating and cut their price target for the company from $130.00 to $97.00 in a report on Friday, August 23rd. Bank of America lowered their price objective on Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a research note on Friday, August 23rd. Citigroup dropped their target price on Baidu from $170.00 to $155.00 and set a “buy” rating for the company in a report on Monday, July 15th. Finally, Barclays lowered their price target on shares of Baidu from $125.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $132.13.

Baidu Stock Performance

Shares of BIDU stock opened at $102.56 on Friday. The firm has a 50 day moving average of $86.49 and a two-hundred day moving average of $95.16. The stock has a market capitalization of $35.96 billion, a PE ratio of 13.73 and a beta of 0.48. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.19. Baidu, Inc. has a 52 week low of $79.68 and a 52 week high of $136.53.

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.