4,450 Shares in Futu Holdings Limited (NASDAQ:FUTU) Purchased by AdvisorShares Investments LLC

AdvisorShares Investments LLC bought a new stake in Futu Holdings Limited (NASDAQ:FUTU - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,450 shares of the company's stock, valued at approximately $356,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in Futu in the fourth quarter valued at approximately $39,163,000. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Futu by 183.6% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 333,401 shares of the company's stock valued at $26,669,000 after buying an additional 215,840 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its stake in shares of Futu by 189.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 39,047 shares of the company's stock worth $3,123,000 after acquiring an additional 25,557 shares during the period. Sei Investments Co. increased its holdings in Futu by 381.3% in the 4th quarter. Sei Investments Co. now owns 51,903 shares of the company's stock worth $4,152,000 after acquiring an additional 41,119 shares during the last quarter. Finally, APG Asset Management N.V. bought a new stake in Futu in the 4th quarter valued at about $3,399,000.

Analyst Ratings Changes

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

Futu Trading Up 2.7 %

Shares of NASDAQ:FUTU opened at $92.07 on Wednesday. The company has a 50 day moving average of $98.95 and a 200 day moving average of $94.38. The stock has a market cap of $12.69 billion, a P/E ratio of 22.57, a P/E/G ratio of 0.79 and a beta of 0.67. Futu Holdings Limited has a 12 month low of $51.80 and a 12 month high of $130.88.

Futu 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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