Lazard Asset Management LLC boosted its holdings in Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 624.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,511 shares of the company's stock after acquiring an additional 13,370 shares during the quarter. Lazard Asset Management LLC's holdings in Futu were worth $1,240,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Futu in the fourth quarter worth approximately $116,315,000. Norges Bank purchased a new stake in Futu in the 4th quarter valued at $39,163,000. Candriam S.C.A. bought a new position in Futu during the 4th quarter valued at $28,004,000. William Blair Investment Management LLC boosted its holdings in Futu by 1,325.6% during the 4th quarter. William Blair Investment Management LLC now owns 285,120 shares of the company's stock worth $22,806,000 after acquiring an additional 265,120 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings 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 last quarter.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on the stock. UBS Group raised their price target on shares of Futu from $130.00 to $136.00 and gave the company a "buy" rating in a research report on Monday, March 17th. JPMorgan Chase & Co. increased their price objective on shares of Futu from $160.00 to $170.00 and gave the company an "overweight" rating in a research note on Friday, March 14th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $121.20.
View Our Latest Stock Analysis on FUTU
Futu Price Performance
NASDAQ FUTU opened at $109.60 on Tuesday. The business's fifty day moving average is $96.79 and its 200-day moving average is $95.30. The stock has a market capitalization of $15.25 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 0.79 and a beta of 0.67. Futu Holdings Limited has a one year low of $51.80 and a one year high of $130.88.
About Futu
(
Free Report)
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.
Further Reading
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