Lazard Asset Management LLC increased its stake in shares of Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 624.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 15,511 shares of the company's stock after purchasing an additional 13,370 shares during the period. Lazard Asset Management LLC's holdings in Futu were worth $1,240,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in FUTU. Smartleaf Asset Management LLC lifted its holdings in Futu by 1,245.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 444 shares of the company's stock worth $36,000 after purchasing an additional 411 shares in the last quarter. Rakuten Securities Inc. lifted its holdings in Futu by 239.8% during the 4th quarter. Rakuten Securities Inc. now owns 683 shares of the company's stock worth $55,000 after purchasing an additional 482 shares in the last quarter. Assetmark Inc. lifted its holdings in Futu by 15,200.0% during the 4th quarter. Assetmark Inc. now owns 765 shares of the company's stock worth $61,000 after purchasing an additional 760 shares in the last quarter. Vestcor Inc lifted its holdings in Futu by 19.2% during the 4th quarter. Vestcor Inc now owns 907 shares of the company's stock worth $73,000 after purchasing an additional 146 shares in the last quarter. Finally, Platinum Investment Management Ltd. purchased a new stake in Futu during the 4th quarter worth about $86,000.
Analysts Set New Price Targets
FUTU has been the topic of a number of recent research reports. UBS Group increased their price objective on Futu from $130.00 to $136.00 and gave the stock a "buy" rating in a report on Monday, March 17th. JPMorgan Chase & Co. increased their price objective on Futu from $160.00 to $170.00 and gave the stock an "overweight" rating in a report on Friday, March 14th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $121.20.
Read Our Latest Report on FUTU
Futu Price Performance
Shares of NASDAQ:FUTU traded up $0.32 on Friday, hitting $111.76. The company's stock had a trading volume of 1,244,815 shares, compared to its average volume of 2,838,915. The company has a 50-day simple moving average of $96.49 and a 200 day simple moving average of $95.59. Futu Holdings Limited has a 1 year low of $51.80 and a 1 year high of $130.88. The company has a market capitalization of $15.55 billion, a PE ratio of 27.39, a PEG ratio of 0.79 and a beta of 0.67.
Futu Profile
(
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.
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