Platinum Investment Management Ltd. lessened its position in Noah Holdings Limited (NYSE:NOAH - Free Report) by 4.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,952,751 shares of the asset manager's stock after selling 84,370 shares during the period. Noah makes up about 1.3% of Platinum Investment Management Ltd.'s investment portfolio, making the stock its 19th biggest holding. Platinum Investment Management Ltd. owned about 2.96% of Noah worth $22,867,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in NOAH. FMR LLC bought a new stake in shares of Noah in the third quarter valued at about $8,895,000. Franklin Resources Inc. boosted its stake in shares of Noah by 10.4% during the 3rd quarter. Franklin Resources Inc. now owns 1,786,627 shares of the asset manager's stock worth $24,441,000 after buying an additional 167,685 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Noah during the third quarter worth about $566,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Noah by 113.0% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 48,216 shares of the asset manager's stock worth $565,000 after acquiring an additional 25,578 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in Noah in the third quarter valued at approximately $199,000. 42.67% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
NOAH has been the subject of several analyst reports. JPMorgan Chase & Co. reissued 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. Morgan Stanley downgraded shares of Noah from an "overweight" rating to an "equal weight" rating and set a $13.00 price objective for the company. in a research report on Friday, November 29th. Finally, StockNews.com cut shares of Noah from a "buy" rating to a "hold" rating in a report on Thursday.
Read Our Latest Research Report on NOAH
Noah Stock Performance
Shares of NOAH stock traded down $0.05 during midday trading on Friday, hitting $11.06. 45,339 shares of the company were exchanged, compared to its average volume of 185,652. The firm has a market capitalization of $729.67 million, a P/E ratio of 9.45 and a beta of 0.71. Noah Holdings Limited has a 52 week low of $7.14 and a 52 week high of $15.44. The firm's 50 day moving average price is $11.03 and its two-hundred day moving average price is $11.41.
Noah Profile
(
Free Report)
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.
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