Harvest Fund Management Co. Ltd Purchases New Stake in RH (NYSE:RH)

Harvest Fund Management Co. Ltd acquired a new position in RH (NYSE:RH) in the 4th quarter, Holdings Channel reports. The firm acquired 202 shares of the company’s stock, valued at approximately $80,000.

A number of other hedge funds have also made changes to their positions in the business. Versant Capital Management Inc lifted its position in RH by 7,000.0% during the 4th quarter. Versant Capital Management Inc now owns 71 shares of the company’s stock worth $28,000 after acquiring an additional 70 shares in the last quarter. UMB Bank n.a. lifted its position in shares of RH by 125.8% during the fourth quarter. UMB Bank n.a. now owns 70 shares of the company’s stock worth $28,000 after purchasing an additional 39 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of RH by 533.3% in the fourth quarter. GAMMA Investing LLC now owns 76 shares of the company’s stock valued at $30,000 after purchasing an additional 64 shares during the period. Rakuten Securities Inc. grew its holdings in RH by 180.0% during the 4th quarter. Rakuten Securities Inc. now owns 112 shares of the company’s stock valued at $44,000 after purchasing an additional 72 shares in the last quarter. Finally, Golden State Wealth Management LLC purchased a new stake in RH during the 4th quarter worth $68,000. Hedge funds and other institutional investors own 90.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on RH. Morgan Stanley upgraded RH from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $435.00 to $530.00 in a research note on Monday, January 13th. Stifel Nicolaus lifted their price objective on RH from $420.00 to $500.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Barclays upgraded RH from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $383.00 to $515.00 in a research note on Wednesday, January 8th. The Goldman Sachs Group upgraded shares of RH from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $261.00 to $374.00 in a research note on Thursday, January 30th. Finally, Wells Fargo & Company reduced their price objective on shares of RH from $500.00 to $375.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 18th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $412.44.

RH Price Performance

NYSE:RH opened at $242.24 on Monday. The firm has a market capitalization of $4.51 billion, a P/E ratio of 69.61, a P/E/G ratio of 2.65 and a beta of 2.50. The business has a 50 day simple moving average of $353.74 and a 200 day simple moving average of $352.33. RH has a 12-month low of $212.04 and a 12-month high of $457.26.

Insider Activity

In other RH news, CAO Christina Hargarten sold 5,280 shares of RH stock in a transaction on Friday, January 17th. The stock was sold at an average price of $447.20, for a total transaction of $2,361,216.00. Following the sale, the chief accounting officer now owns 484 shares of the company’s stock, valued at $216,444.80. The trade was a 91.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Keith Belling sold 500 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $417.85, for a total value of $208,925.00. Following the completion of the transaction, the director now directly owns 4,970 shares of the company’s stock, valued at approximately $2,076,714.50. The trade was a 9.14 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,380 shares of company stock valued at $28,922,379. 28.10% of the stock is currently owned by company insiders.

About RH

RH, together with its subsidiaries, operates as a retailer in the home furnishings market. The company offers products in various categories, including furniture, lighting, textiles, bathware, décor, outdoor and garden, baby, child, and teen furnishings. It provides its products through rh.com, rhbabyandchild.com, rhteen.com, rhmodern.com, and waterworks.com online channels, as well as operates RH Galleries, RH outlet stores, RH Guesthouse, and Waterworks showrooms in the United States, Canada, the United Kingdom, and Germany.