Renaissance Technologies LLC Sells 104,500 Shares of Baidu, Inc. (NASDAQ:BIDU)

Renaissance Technologies LLC decreased its holdings in Baidu, Inc. (NASDAQ:BIDU) by 22.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 358,399 shares of the information services provider’s stock after selling 104,500 shares during the period. Renaissance Technologies LLC’s holdings in Baidu were worth $30,217,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. FIL Ltd lifted its holdings in Baidu by 367.1% in the 4th quarter. FIL Ltd now owns 599,918 shares of the information services provider’s stock worth $50,579,000 after purchasing an additional 471,497 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of Baidu by 17.5% in the fourth quarter. Cerity Partners LLC now owns 4,281 shares of the information services provider’s stock worth $365,000 after buying an additional 638 shares in the last quarter. Annandale Capital LLC boosted its position in shares of Baidu by 97.8% during the fourth quarter. Annandale Capital LLC now owns 40,032 shares of the information services provider’s stock worth $3,375,000 after acquiring an additional 19,793 shares during the last quarter. Pitcairn Co. grew its stake in Baidu by 45.3% during the fourth quarter. Pitcairn Co. now owns 7,322 shares of the information services provider’s stock valued at $617,000 after acquiring an additional 2,283 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Baidu by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 120,628 shares of the information services provider’s stock valued at $10,170,000 after acquiring an additional 1,020 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Benchmark restated a “buy” rating and set a $130.00 price objective on shares of Baidu in a research report on Wednesday, February 19th. StockNews.com cut Baidu from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Nomura cut Baidu from a “buy” rating to a “neutral” rating in a report on Wednesday, February 19th. Mizuho raised their target price on shares of Baidu from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Baidu in a research note on Saturday, March 8th. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Baidu presently has an average rating of “Hold” and a consensus target price of $111.25.

Baidu Price Performance

BIDU opened at $82.73 on Friday. The business has a fifty day moving average of $90.60 and a 200 day moving average of $90.09. The stock has a market cap of $29.01 billion, a P/E ratio of 9.02, a PEG ratio of 2.96 and a beta of 0.33. The company has a quick ratio of 2.19, a current ratio of 2.09 and a debt-to-equity ratio of 0.19. Baidu, Inc. has a 52-week low of $74.71 and a 52-week high of $116.25.

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.