Envestnet Asset Management Inc. Purchases Shares of 14,472 Futu Holdings Limited (NASDAQ:FUTU)

Envestnet Asset Management Inc. acquired a new stake in shares of Futu Holdings Limited (NASDAQ:FUTU - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 14,472 shares of the company's stock, valued at approximately $1,158,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of FUTU. Arrowstreet Capital Limited Partnership bought a new position in shares of Futu during the fourth quarter valued at approximately $116,315,000. Geode Capital Management LLC boosted its position 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 purchasing an additional 21,686 shares during the period. Norges Bank bought a new position in Futu during the 4th quarter worth $39,163,000. SG Americas Securities LLC increased its position in Futu by 236.6% in the fourth quarter. SG Americas Securities LLC now owns 374,193 shares of the company's stock worth $29,932,000 after buying an additional 263,040 shares during the period. Finally, Candriam S.C.A. bought a new stake in Futu in the fourth quarter valued at $28,004,000.

Futu Price Performance

Shares of Futu stock traded up $5.09 on Friday, hitting $98.60. The company had a trading volume of 2,114,867 shares, compared to its average volume of 2,828,372. Futu Holdings Limited has a 52 week low of $51.80 and a 52 week high of $130.88. The company has a market cap of $13.59 billion, a PE ratio of 24.17, a PEG ratio of 0.79 and a beta of 0.67. The business has a 50-day simple moving average of $97.91 and a 200-day simple moving average of $94.30.

Analyst Ratings Changes

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

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.