Tiger Pacific Capital LP grew its position in Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 71.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 108,100 shares of the company's stock after buying an additional 45,100 shares during the quarter. Futu accounts for 2.3% of Tiger Pacific Capital LP's holdings, making the stock its 9th largest holding. Tiger Pacific Capital LP owned about 0.08% of Futu worth $8,647,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the company. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Futu during the 4th quarter worth $116,315,000. Point72 Hong Kong Ltd boosted its position in Futu by 170.6% during the fourth quarter. Point72 Hong Kong Ltd now owns 830,842 shares of the company's stock valued at $66,459,000 after purchasing an additional 523,808 shares in the last quarter. Norges Bank bought a new stake in Futu during the fourth quarter valued at about $39,163,000. Candriam S.C.A. bought a new stake in Futu during the fourth quarter valued at about $28,004,000. Finally, Man Group plc bought a new stake in Futu during the fourth quarter valued at about $25,430,000.
Futu Price Performance
Futu stock traded down $0.84 during midday trading on Wednesday, reaching $109.19. The company's stock had a trading volume of 1,926,056 shares, compared to its average volume of 2,837,606. The stock's 50-day simple moving average is $96.84 and its 200-day simple moving average is $95.41. Futu Holdings Limited has a 52-week low of $51.80 and a 52-week high of $130.88. The stock has a market capitalization of $15.19 billion, a P/E ratio of 26.76, a PEG ratio of 0.79 and a beta of 0.67.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on FUTU shares. JPMorgan Chase & Co. raised their price objective on Futu from $160.00 to $170.00 and gave the company an "overweight" rating in a research report on Friday, March 14th. UBS Group raised their price objective on Futu from $130.00 to $136.00 and gave the company a "buy" rating in a research report on Monday, March 17th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Futu currently has a consensus rating of "Moderate Buy" and an average price target of $121.20.
View Our Latest Research Report on Futu
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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