Platinum Investment Management Ltd. Decreases Holdings in Noah Holdings Limited (NYSE:NOAH)

Platinum Investment Management Ltd. trimmed its position in shares of Noah Holdings Limited (NYSE:NOAH) by 4.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,952,751 shares of the asset manager’s stock after selling 84,370 shares during the quarter. Noah makes up about 1.3% of Platinum Investment Management Ltd.’s portfolio, making the stock its 19th biggest position. Platinum Investment Management Ltd.’s holdings in Noah were worth $22,867,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its holdings in Noah by 10.4% during the 3rd quarter. Franklin Resources Inc. now owns 1,786,627 shares of the asset manager’s stock valued at $24,441,000 after purchasing an additional 167,685 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Noah in the 3rd quarter worth about $566,000. FMR LLC bought a new position in Noah in the 3rd quarter worth about $8,895,000. Ballentine Partners LLC grew its stake in Noah by 16.7% in the 4th quarter. Ballentine Partners LLC now owns 27,565 shares of the asset manager’s stock worth $323,000 after acquiring an additional 3,948 shares in the last quarter. Finally, Wolverine Trading LLC bought a new position in Noah in the 3rd quarter worth about $196,000. 42.67% of the stock is currently owned by institutional investors.

Noah Stock Performance

NYSE NOAH opened at $11.44 on Wednesday. The firm’s 50 day moving average price is $10.98 and its 200-day moving average price is $11.36. Noah Holdings Limited has a 52-week low of $7.14 and a 52-week high of $15.44. The company has a market cap of $754.61 million, a PE ratio of 9.78 and a beta of 0.71.

Wall Street Analyst Weigh In

NOAH has been the topic of a number of research analyst reports. JPMorgan Chase & Co. restated a “neutral” rating and issued a $12.00 target price (up from $10.50) on shares of Noah in a research note on Wednesday, March 5th. StockNews.com upgraded shares of Noah from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Finally, Morgan Stanley downgraded shares of Noah from an “overweight” rating to an “equal weight” rating and set a $13.00 target price on the stock. in a research note on Friday, November 29th.

About Noah

Noah Holdings Limited, together with its subsidiaries, operates as a wealth and asset management service provider with the focus on investment and asset allocation services for high net worth individuals and enterprises in Mainland of China, Hong Kong, and internationally. It operates through three segments: Wealth Management, Asset Management, and Other Services.