Platinum Investment Management Ltd. Sells 84,370 Shares of Noah Holdings Limited (NYSE:NOAH)

Platinum Investment Management Ltd. decreased its holdings in shares of Noah Holdings Limited (NYSE:NOAH) by 4.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,952,751 shares of the asset manager’s stock after selling 84,370 shares during the period. Noah comprises approximately 1.3% of Platinum Investment Management Ltd.’s holdings, making the stock its 19th largest position. Platinum Investment Management Ltd. owned about 2.96% of Noah worth $22,867,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Noah during the 3rd quarter valued at $65,000. Wolverine Trading LLC purchased a new position in shares of Noah during the 3rd quarter valued at $196,000. Public Employees Retirement System of Ohio purchased a new position in shares of Noah during the 3rd quarter valued at $199,000. Ballentine Partners LLC lifted its stake in shares of Noah by 16.7% during the 4th quarter. Ballentine Partners LLC now owns 27,565 shares of the asset manager’s stock valued at $323,000 after buying an additional 3,948 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in Noah in the 3rd quarter worth $566,000. Institutional investors own 42.67% of the company’s stock.

Noah Trading Up 1.9 %

Shares of 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. The stock has a market capitalization of $754.61 million, a price-to-earnings ratio of 9.78 and a beta of 0.71. Noah Holdings Limited has a 12-month low of $7.14 and a 12-month high of $15.44.

Wall Street Analysts Forecast Growth

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

Noah Profile

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.