Quantinno Capital Management LP Grows Stock Position in Futu Holdings Limited (NASDAQ:FUTU)

Quantinno Capital Management LP grew its holdings in shares of Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 29.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,418 shares of the company's stock after purchasing an additional 8,284 shares during the quarter. Quantinno Capital Management LP's holdings in Futu were worth $2,913,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Man Group plc purchased a new stake in shares of Futu during the 4th quarter valued at about $25,430,000. Nuveen Asset Management LLC increased its holdings in Futu by 9.9% in the 4th quarter. Nuveen Asset Management LLC now owns 146,811 shares of the company's stock worth $11,743,000 after acquiring an additional 13,191 shares in the last quarter. Oasis Management Co Ltd. purchased a new stake in Futu in the 4th quarter worth approximately $1,700,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Futu by 77.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 452 shares of the company's stock worth $36,000 after acquiring an additional 197 shares in the last quarter. Finally, Lazard Asset Management LLC increased its holdings in Futu by 624.5% in the 4th quarter. Lazard Asset Management LLC now owns 15,511 shares of the company's stock worth $1,240,000 after acquiring an additional 13,370 shares in the last quarter.

Futu Price Performance

Shares of FUTU opened at $109.60 on Tuesday. Futu Holdings Limited has a 1 year low of $51.80 and a 1 year high of $130.88. The company has a 50 day simple moving average of $96.79 and a two-hundred day simple moving average of $95.30. The firm has a market cap of $15.25 billion, a P/E ratio of 26.86, a price-to-earnings-growth ratio of 0.79 and a beta of 0.67.

Wall Street Analysts Forecast Growth

FUTU has been the subject of several analyst reports. UBS Group increased their target price 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. increased their target price on shares of 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 assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus 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.

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