Essex Investment Management Co. LLC Takes Position in Baidu, Inc. (BIDU)

Essex Investment Management Co. LLC acquired a new position in Baidu, Inc. (NASDAQ:BIDU) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,005 shares of the information services provider’s stock, valued at approximately $1,240,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Westpac Banking Corp acquired a new position in Baidu in the third quarter worth approximately $7,956,000. Victory Capital Management Inc. grew its holdings in Baidu by 2,108.4% during the third quarter. Victory Capital Management Inc. now owns 30,917 shares of the information services provider’s stock valued at $7,658,000 after purchasing an additional 29,517 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new position in Baidu during the third quarter valued at approximately $3,497,000. Sumitomo Mitsui Asset Management Company LTD grew its holdings in Baidu by 18.5% during the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 496,785 shares of the information services provider’s stock valued at $123,048,000 after purchasing an additional 77,590 shares during the last quarter. Finally, Penserra Capital Management LLC grew its holdings in Baidu by 75.0% during the third quarter. Penserra Capital Management LLC now owns 93,093 shares of the information services provider’s stock valued at $23,058,000 after purchasing an additional 39,888 shares during the last quarter. Hedge funds and other institutional investors own 64.64% of the company’s stock.

Baidu, Inc. (BIDU) opened at $235.61 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.71 and a current ratio of 1.71. Baidu, Inc. has a 1-year low of $160.61 and a 1-year high of $274.97. The firm has a market capitalization of $82,320.82, a P/E ratio of 30.05, a P/E/G ratio of 1.41 and a beta of 1.94.

Several equities research analysts have recently issued reports on BIDU shares. Oppenheimer Holdings, Inc. raised their price objective on shares of Baidu from $250.00 to $295.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 31st. Barclays PLC set a $240.00 price objective on shares of Baidu and gave the stock a “hold” rating in a research note on Monday, October 30th. J P Morgan Chase & Co lowered their price objective on shares of Baidu from $230.00 to $225.00 and set a “neutral” rating on the stock in a research note on Monday, October 30th. Vetr raised Baidu from a “buy” rating to a “strong-buy” rating and set a $277.19 target price for the company in a research report on Monday, October 30th. Finally, OTR Global raised Baidu to a “positive” rating in a research report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Baidu has a consensus rating of “Buy” and a consensus target price of $234.70.

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Baidu Profile

Baidu, Inc is a Chinese language Internet search provider. The Company offers a Chinese language search platform on its Baidu.com Website that enables users to find information online, including Webpages, news, images, documents and multimedia files, through links provided on its Website. In addition to serving individual Internet search users, the Company provides a platform for businesses to reach customers.

Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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