317,917 Shares in Futu Holdings Limited (NASDAQ:FUTU) Bought by Man Group plc

Man Group plc bought a new stake in shares of Futu Holdings Limited (NASDAQ:FUTU - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 317,917 shares of the company's stock, valued at approximately $25,430,000. Man Group plc owned approximately 0.23% of Futu at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Nuveen Asset Management LLC increased its holdings in shares of Futu by 9.9% during the fourth quarter. Nuveen Asset Management LLC now owns 146,811 shares of the company's stock valued at $11,743,000 after acquiring an additional 13,191 shares in the last quarter. Oasis Management Co Ltd. acquired a new position in Futu during the 4th quarter valued at approximately $1,700,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Futu by 77.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 452 shares of the company's stock valued at $36,000 after purchasing an additional 197 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of Futu by 624.5% in the fourth quarter. Lazard Asset Management LLC now owns 15,511 shares of the company's stock worth $1,240,000 after buying an additional 13,370 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of Futu by 147.6% during the fourth quarter. Janus Henderson Group PLC now owns 5,200 shares of the company's stock worth $416,000 after buying an additional 3,100 shares during the period.

Futu Stock Down 5.3%

Futu stock opened at $105.76 on Friday. The company has a fifty day simple moving average of $96.89 and a 200-day simple moving average of $95.14. The firm has a market capitalization of $14.72 billion, a price-to-earnings ratio of 25.92, a PEG ratio of 0.79 and a beta of 0.67. Futu Holdings Limited has a 52-week low of $51.80 and a 52-week high of $130.88.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FUTU. JPMorgan Chase & Co. upped their target price on Futu from $160.00 to $170.00 and gave the company an "overweight" rating in a research report on Friday, March 14th. UBS Group increased their price objective on Futu from $130.00 to $136.00 and gave the company a "buy" rating in a report on Monday, March 17th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $121.20.

Futu Company Profile

Futu Holdings Limited provides digitalized securities brokerage and wealth management product distribution service in Hong Kong and internationally. It offers online financial services, including securities and derivative trades brokerage, margin financing and fund distribution services through its Futubull and Moomoo digital platforms.

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