Quantinno Capital Management LP Purchases 8,284 Shares of Futu Holdings Limited (NASDAQ:FUTU)

Quantinno Capital Management LP raised its stake in Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 29.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,418 shares of the company's stock after buying an additional 8,284 shares during the period. Quantinno Capital Management LP's holdings in Futu were worth $2,913,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC increased its holdings in Futu by 1,245.5% in the fourth 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Futu by 77.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 452 shares of the company's stock valued at $36,000 after acquiring an additional 197 shares in the last quarter. Rakuten Securities Inc. raised its position in shares of Futu by 239.8% during the fourth quarter. Rakuten Securities Inc. now owns 683 shares of the company's stock worth $55,000 after purchasing an additional 482 shares during the period. Assetmark Inc. lifted its holdings in shares of Futu by 15,200.0% in 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. Finally, Vestcor Inc grew its position in Futu by 19.2% in the 4th quarter. Vestcor Inc now owns 907 shares of the company's stock valued at $73,000 after purchasing an additional 146 shares during the period.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. 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 increased their price target on Futu from $130.00 to $136.00 and gave the company a "buy" rating in a research report on Monday, March 17th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $121.20.

Futu Stock Performance

NASDAQ FUTU traded up $0.32 on Friday, hitting $111.76. 1,244,815 shares of the stock traded hands, compared to its average volume of 2,838,915. The business's fifty day moving average is $96.49 and its two-hundred day moving average is $95.59. Futu Holdings Limited has a 12 month low of $51.80 and a 12 month high of $130.88. The firm has a market capitalization of $15.55 billion, a price-to-earnings ratio of 27.39, a PEG ratio of 0.79 and a beta of 0.67.

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.