Sei Investments Co. Sells 3,599 Shares of Baidu, Inc. (NASDAQ:BIDU)

Sei Investments Co. reduced its stake in Baidu, Inc. (NASDAQ:BIDU) by 1.3% during the second quarter, HoldingsChannel.com reports. The firm owned 278,725 shares of the information services provider’s stock after selling 3,599 shares during the quarter. Sei Investments Co.’s holdings in Baidu were worth $24,104,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Crewe Advisors LLC purchased a new position in Baidu during the first quarter valued at $31,000. Silicon Valley Capital Partners bought a new position in Baidu in the 1st quarter worth about $53,000. Accent Capital Management LLC bought a new stake in Baidu during the 4th quarter valued at about $66,000. iA Global Asset Management Inc. purchased a new position in Baidu in the second quarter worth about $52,000. Finally, Denver PWM LLC purchased a new position in Baidu in the second quarter worth about $67,000.

Baidu Trading Up 7.4 %

Shares of Baidu stock opened at $94.81 on Wednesday. Baidu, Inc. has a 1-year low of $79.68 and a 1-year high of $136.53. The company’s fifty day simple moving average is $86.20 and its 200-day simple moving average is $95.12. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.32 and a quick ratio of 2.32. The stock has a market capitalization of $33.25 billion, a PE ratio of 12.69 and a beta of 0.48.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Benchmark reduced their price target on shares of Baidu from $180.00 to $135.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Jefferies Financial Group reduced their target price on Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Citigroup lowered their price target on Baidu from $170.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Loop Capital reduced their price objective on Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a report on Monday, August 26th. Finally, Barclays lowered their target price on shares of Baidu from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.13.

Baidu Company 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.