Profund Advisors LLC Has $6.84 Million Holdings in Baidu, Inc. (BIDU)

Profund Advisors LLC raised its position in shares of Baidu, Inc. (NASDAQ:BIDU) by 8.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 38,244 shares of the information services provider’s stock after buying an additional 2,817 shares during the quarter. Profund Advisors LLC’s holdings in Baidu were worth $6,840,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Baidu by 4,625.7% in the 1st quarter. BlackRock Inc. now owns 11,974,528 shares of the information services provider’s stock valued at $2,065,846,000 after purchasing an additional 11,721,135 shares during the last quarter. Cambiar Investors LLC purchased a new position in shares of Baidu in the 2nd quarter valued at approximately $274,670,000. Veritas Asset Management LLP raised its position in shares of Baidu by 37.1% in the 2nd quarter. Veritas Asset Management LLP now owns 3,404,298 shares of the information services provider’s stock valued at $608,893,000 after purchasing an additional 920,687 shares during the last quarter. Artisan Partners Limited Partnership raised its position in shares of Baidu by 8.9% in the 1st quarter. Artisan Partners Limited Partnership now owns 7,639,967 shares of the information services provider’s stock valued at $1,318,047,000 after purchasing an additional 621,382 shares during the last quarter. Finally, Causeway Capital Management LLC raised its position in shares of Baidu by 20.4% in the 1st quarter. Causeway Capital Management LLC now owns 3,604,537 shares of the information services provider’s stock valued at $621,855,000 after purchasing an additional 611,124 shares during the last quarter. 64.15% of the stock is owned by institutional investors and hedge funds.

Several brokerages recently commented on BIDU. Macquarie raised shares of Baidu from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $189.00 to $252.00 in a research report on Friday, July 28th. HSBC Holdings plc reaffirmed a “buy” rating and issued a $245.00 price objective (up from $223.00) on shares of Baidu in a research report on Tuesday, August 1st. Instinet raised shares of Baidu from a “neutral” rating to a “buy” rating and increased their price objective for the company from $180.00 to $241.00 in a research report on Monday, July 31st. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $152.00 price objective (down from $188.00) on shares of Baidu in a research report on Friday, July 14th. Finally, TheStreet lowered shares of Baidu from a “b-” rating to a “c+” rating in a research report on Thursday, June 22nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $213.36.

Shares of Baidu, Inc. (NASDAQ BIDU) traded down 0.89% on Friday, reaching $235.21. The company’s stock had a trading volume of 5,230,285 shares. The stock has a market capitalization of $81.56 billion, a P/E ratio of 43.37 and a beta of 1.98. The company has a 50 day moving average of $226.89 and a 200 day moving average of $192.20. Baidu, Inc. has a 1-year low of $159.54 and a 1-year high of $239.16.

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Baidu Company 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.

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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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