Cederberg Capital Ltd Boosts Stock Position in Futu Holdings Limited (NASDAQ:FUTU)

Cederberg Capital Ltd raised its stake in Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 3.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 353,900 shares of the company's stock after acquiring an additional 13,000 shares during the quarter. Futu comprises 9.6% of Cederberg Capital Ltd's holdings, making the stock its 5th largest position. Cederberg Capital Ltd owned 0.26% of Futu worth $28,308,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in FUTU. Arrowstreet Capital Limited Partnership purchased a new stake in Futu during the fourth quarter worth about $116,315,000. Hhlr Advisors LTD. grew its stake in Futu by 6.4% during the fourth quarter. Hhlr Advisors LTD. now owns 1,118,303 shares of the company's stock valued at $89,453,000 after acquiring an additional 67,214 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Futu by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 567,635 shares of the company's stock valued at $44,890,000 after acquiring an additional 21,686 shares during the period. Norges Bank bought a new position in Futu in the fourth quarter worth about $39,163,000. Finally, SG Americas Securities LLC lifted its position in Futu by 236.6% during the 4th quarter. SG Americas Securities LLC now owns 374,193 shares of the company's stock worth $29,932,000 after acquiring an additional 263,040 shares during the period.

Futu Stock Performance

Shares of FUTU stock opened at $101.17 on Tuesday. The company has a market capitalization of $14.08 billion, a price-to-earnings ratio of 24.80, a PEG ratio of 0.79 and a beta of 0.67. The company has a 50-day simple moving average of $97.66 and a 200 day simple moving average of $94.38. Futu Holdings Limited has a 52 week low of $51.80 and a 52 week high of $130.88.

Analyst Ratings Changes

A number of equities analysts recently commented on FUTU shares. JPMorgan Chase & Co. raised their target price on Futu from $160.00 to $170.00 and gave the company an "overweight" rating in a report on Friday, March 14th. UBS Group upped their price target on shares of Futu from $130.00 to $136.00 and gave the company a "buy" rating in a report on Monday, March 17th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $121.20.

About Futu

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.