Platinum Investment Management Ltd. Sells 231,373 Shares of Noah Holdings Ltd. $NOAH

Platinum Investment Management Ltd. cut its holdings in shares of Noah Holdings Ltd. (NYSE:NOAH) by 17.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,058,912 shares of the asset manager’s stock after selling 231,373 shares during the period. Noah makes up about 2.5% of Platinum Investment Management Ltd.’s portfolio, making the stock its 6th largest holding. Platinum Investment Management Ltd.’s holdings in Noah were worth $10,631,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of NOAH. Federation des caisses Desjardins du Quebec acquired a new stake in shares of Noah during the 4th quarter valued at about $41,000. Quadrant Capital Group LLC acquired a new stake in shares of Noah during the 3rd quarter valued at about $85,000. New York State Common Retirement Fund acquired a new stake in shares of Noah during the 3rd quarter valued at about $105,000. Centiva Capital LP acquired a new stake in shares of Noah during the 3rd quarter valued at about $118,000. Finally, Creative Planning grew its position in shares of Noah by 10.6% during the 3rd quarter. Creative Planning now owns 12,516 shares of the asset manager’s stock valued at $145,000 after acquiring an additional 1,195 shares during the period. 42.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NOAH has been the topic of a number of research reports. Zacks Research raised shares of Noah from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. JPMorgan Chase & Co. decreased their price target on shares of Noah from $12.00 to $11.50 and set a “neutral” rating on the stock in a research note on Tuesday, June 2nd. Weiss Ratings raised shares of Noah from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, April 29th. Finally, Wall Street Zen lowered shares of Noah from a “buy” rating to a “hold” rating in a research note on Sunday, June 7th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $10.75.

Noah Trading Up 2.0%

Shares of Noah stock opened at $10.32 on Friday. The firm has a market capitalization of $696.08 million, a PE ratio of 9.56 and a beta of 0.80. Noah Holdings Ltd. has a twelve month low of $9.53 and a twelve month high of $12.84. The firm’s 50-day moving average price is $10.30 and its 200 day moving average price is $10.78.

About Noah

Noah Holdings Limited is a China-based wealth management and asset management firm specializing in tailored advisory services for high-net-worth individuals, family offices and select institutional clients. The company offers a broad range of investment solutions that draw on its deep market research and partner network to provide access to both onshore and offshore products. Noah’s business model centers on delivering structured investment products, portfolio management services and family wealth planning solutions designed to meet the evolving needs of affluent clients in China and beyond.

Noah’s main service lines include discretionary portfolio management, fund distribution, private equity and venture capital fund platforms, and alternative investment strategies such as real estate and insurance-linked products.