Noah (NYSE:NOAH) Shares Down 3.2% – Time to Sell?

Noah Holdings Limited (NYSE:NOAH) was down 3.2% during trading on Thursday . The stock traded as low as $11.33 and last traded at $11.33. Approximately 12,179 shares were traded during trading, a decline of 94% from the average daily volume of 194,511 shares. The stock had previously closed at $11.71.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NOAH. Morgan Stanley cut 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. UBS Group lowered Noah from a “buy” rating to a “neutral” rating and set a $13.00 target price for the company. in a research report on Thursday, October 24th.

Noah Stock Performance

The company’s fifty day moving average is $12.12 and its 200-day moving average is $10.34. The company has a market capitalization of $745.62 million, a PE ratio of 9.63 and a beta of 0.80.

Institutional Trading of Noah

A number of large investors have recently modified their holdings of the company. Franklin Resources Inc. raised its holdings in Noah by 10.4% in the third quarter. Franklin Resources Inc. now owns 1,786,627 shares of the asset manager’s stock worth $24,441,000 after purchasing an additional 167,685 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Noah in the third quarter valued at approximately $199,000. Wolverine Trading LLC acquired a new stake in shares of Noah in the third quarter worth $196,000. Point72 Asset Management L.P. purchased a new position in Noah during the third quarter valued at approximately $566,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Noah during the third quarter worth $65,000. Hedge funds and other institutional investors own 42.67% of the company’s stock.

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.