Goldman Sachs Group Inc. cut its stake in Noah Holdings Ltd. (NYSE:NOAH) by 24.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 388,505 shares of the asset manager’s stock after selling 122,755 shares during the period. Goldman Sachs Group Inc. owned approximately 0.69% of Noah Holdings worth $11,131,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of NOAH. Russell Investments Group Ltd. purchased a new position in shares of Noah Holdings during the 2nd quarter worth approximately $158,000. Neuberger Berman Group LLC purchased a new position in shares of Noah Holdings during the 1st quarter worth approximately $200,000. Aperio Group LLC purchased a new position in shares of Noah Holdings during the 2nd quarter worth approximately $239,000. Airain ltd purchased a new position in shares of Noah Holdings during the 2nd quarter worth approximately $245,000. Finally, Hershey Trust Co. purchased a new position in shares of Noah Holdings during the 2nd quarter worth approximately $300,000. 41.46% of the stock is owned by institutional investors.

Several analysts have commented on NOAH shares. BidaskClub raised shares of Noah Holdings from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 3rd. Zacks Investment Research raised shares of Noah Holdings from a “sell” rating to a “hold” rating in a research note on Thursday, August 31st.

Shares of Noah Holdings Ltd. (NOAH) opened at 40.20 on Thursday. The stock has a market capitalization of $2.27 billion, a PE ratio of 22.35 and a beta of 2.44. The firm has a 50-day moving average of $32.41 and a 200 day moving average of $29.38. Noah Holdings Ltd. has a 1-year low of $21.33 and a 1-year high of $40.98.

Noah Holdings announced that its board has initiated a share buyback plan on Thursday, June 29th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the asset manager to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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Noah Holdings Company Profile

Noah Holdings Limited is a wealth management service provider with a focus on global wealth investment and asset allocation services for high net worth individuals and enterprises in China. The Company operates through three segments: wealth management, asset management and Internet finance. It also provides Internet finance services to clients in China.

Institutional Ownership by Quarter for Noah Holdings (NYSE:NOAH)

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