Lansforsakringar Fondforvaltning AB publ Acquires Shares of 12,118 Futu Holdings Limited (NASDAQ:FUTU)

Lansforsakringar Fondforvaltning AB publ purchased a new stake in Futu Holdings Limited (NASDAQ:FUTU - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 12,118 shares of the company's stock, valued at approximately $969,000.

Other institutional investors have also modified their holdings of the company. Norges Bank bought a new stake in shares of Futu in the 4th quarter valued at about $39,163,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Futu by 183.6% in 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 in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Futu by 189.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 39,047 shares of the company's stock valued at $3,123,000 after buying an additional 25,557 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Futu by 89.8% in the 4th quarter. Northern Trust Corp now owns 348,413 shares of the company's stock valued at $27,870,000 after buying an additional 164,892 shares in the last quarter. Finally, GF Fund Management CO. LTD. bought a new stake in shares of Futu in the 4th quarter valued at about $11,482,000.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FUTU. JPMorgan Chase & Co. raised their price target on shares of Futu from $160.00 to $170.00 and gave the company an "overweight" rating in a report on Friday, March 14th. UBS Group lifted their target price on shares of Futu from $130.00 to $136.00 and gave the stock a "buy" rating in a research note on Monday, March 17th. One equities research 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 company has a consensus rating of "Moderate Buy" and a consensus price target of $121.20.

Futu Stock Performance

FUTU stock traded up $1.14 during trading on Tuesday, reaching $104.87. The company had a trading volume of 1,563,300 shares, compared to its average volume of 2,857,286. The firm has a 50-day simple moving average of $96.11 and a 200-day simple moving average of $96.22. The company has a market cap of $14.59 billion, a price-to-earnings ratio of 25.70, a price-to-earnings-growth ratio of 0.79 and a beta of 0.67. Futu Holdings Limited has a twelve month low of $51.80 and a twelve month high of $130.88.

Futu (NASDAQ:FUTU - Get Free Report) last released its earnings results on Thursday, May 29th. The company reported $1.96 EPS for the quarter, topping analysts' consensus estimates of $1.95 by $0.01. The company had revenue of $603.43 million during the quarter, compared to analysts' expectations of $594.86 million. Futu had a net margin of 38.59% and a return on equity of 16.86%. Sell-side analysts expect that Futu Holdings Limited will post 4.94 earnings per share for the current year.

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.