Flowering Tree Investment Management Pte. Ltd. reduced its holdings in Baidu Inc (NASDAQ:BIDU) by 23.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,509 shares of the information services provider’s stock after selling 17,502 shares during the quarter. Baidu makes up approximately 10.3% of Flowering Tree Investment Management Pte. Ltd.’s holdings, making the stock its 3rd largest holding. Flowering Tree Investment Management Pte. Ltd.’s holdings in Baidu were worth $13,151,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in BIDU. Federated Investors Inc. PA acquired a new position in Baidu during the 2nd quarter worth $108,000. Flagship Harbor Advisors LLC acquired a new position in Baidu during the 2nd quarter worth $119,000. Bartlett & Co. LLC lifted its holdings in Baidu by 71.0% during the 2nd quarter. Bartlett & Co. LLC now owns 530 shares of the information services provider’s stock worth $129,000 after buying an additional 220 shares in the last quarter. Toronto Dominion Bank lifted its holdings in Baidu by 5,050.0% during the 3rd quarter. Toronto Dominion Bank now owns 618 shares of the information services provider’s stock worth $141,000 after buying an additional 606 shares in the last quarter. Finally, Centaurus Financial Inc. acquired a new position in Baidu during the 2nd quarter worth $150,000. 61.18% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have issued reports on the company. ValuEngine downgraded Baidu from a “hold” rating to a “sell” rating in a report on Tuesday, November 6th. UBS Group set a $220.00 price objective on Baidu and gave the stock a “buy” rating in a report on Friday, November 2nd. Nomura reduced their price objective on Baidu from $283.00 to $206.00 and set a “neutral” rating on the stock in a report on Thursday, November 1st. Credit Suisse Group set a $246.00 price objective on Baidu and gave the stock a “buy” rating in a report on Wednesday, October 31st. Finally, Barclays set a $230.00 target price on shares of Baidu and gave the company a “hold” rating in a research report on Thursday, November 1st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $278.86.
Baidu, Inc provides Internet search services in China and internationally. It operates through two segments, Baidu Core and iQIYI. The Baidu Core segment offers products for uses, including Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services through mobile browsers; Baidu Feed that provides users with personalized timeline to meet their personal interests reflected in their past online behaviors, such as search and browsing, and their demographics; and Bear Paw Account that enables verified brands and businesses to aggregate their content from Websites, wapsites, and open-platform apps.
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