Wellington Management Group LLP Purchases Shares of 3,125 Futu Holdings Limited (NASDAQ:FUTU)

Wellington Management Group LLP acquired a new position in Futu Holdings Limited (NASDAQ:FUTU - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,125 shares of the company's stock, valued at approximately $250,000.

Several other hedge funds have also modified their holdings of FUTU. Norges Bank purchased a new position in shares of Futu in the fourth quarter valued at $39,163,000. Sumitomo Mitsui Trust Group Inc. lifted its position in Futu by 183.6% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 333,401 shares of the company's stock valued at $26,669,000 after purchasing an additional 215,840 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in Futu during the fourth quarter valued at $11,482,000. Nomura Asset Management Co. Ltd. grew its stake in shares of Futu by 189.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 39,047 shares of the company's stock worth $3,123,000 after buying an additional 25,557 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Futu by 89.8% in the 4th quarter. Northern Trust Corp now owns 348,413 shares of the company's stock worth $27,870,000 after buying an additional 164,892 shares in the last quarter.

Analyst Upgrades and Downgrades

FUTU has been the topic of several recent research reports. JPMorgan Chase & Co. upped their target price on shares of Futu from $160.00 to $170.00 and gave the company an "overweight" rating in a research report on Friday, March 14th. UBS Group boosted their price objective on Futu from $130.00 to $136.00 and gave the stock a "buy" rating in a research note on Monday, March 17th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $121.20.

Futu Stock Down 1.4%

NASDAQ FUTU opened at $106.07 on Friday. Futu Holdings Limited has a 52 week low of $51.80 and a 52 week high of $130.88. The firm has a market capitalization of $14.76 billion, a price-to-earnings ratio of 26.00, a PEG ratio of 0.79 and a beta of 0.67. The company has a fifty day moving average of $96.44 and a two-hundred day moving average of $96.62.

Futu (NASDAQ:FUTU - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The company reported $1.96 EPS for the quarter, topping analysts' consensus estimates of $1.95 by $0.01. Futu had a net margin of 38.59% and a return on equity of 16.86%. The firm had revenue of $603.43 million during the quarter, compared to analysts' expectations of $594.86 million. Equities research analysts anticipate that Futu Holdings Limited will post 4.94 EPS for the current year.

Futu Company 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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