The Manufacturers Life Insurance Company boosted its holdings in Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 344.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 107,717 shares of the company's stock after buying an additional 83,486 shares during the period. The Manufacturers Life Insurance Company owned 0.08% of Futu worth $8,616,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in FUTU. Susquehanna Fundamental Investments LLC bought a new position in Futu in the 4th quarter valued at $3,478,000. Voya Investment Management LLC boosted its holdings in shares of Futu by 1.6% in the 4th quarter. Voya Investment Management LLC now owns 9,549 shares of the company's stock valued at $764,000 after acquiring an additional 153 shares during the last quarter. Quantessence Capital LLC purchased a new stake in shares of Futu in the fourth quarter worth about $584,000. Hsbc Holdings PLC increased its holdings in shares of Futu by 79.0% during the 4th quarter. Hsbc Holdings PLC now owns 365,826 shares of the company's stock valued at $29,265,000 after purchasing an additional 161,443 shares in the last quarter. Finally, J. Safra Sarasin Holding AG purchased a new position in shares of Futu in the 4th quarter valued at about $1,403,000.
Wall Street Analysts Forecast Growth
FUTU has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their price target on shares of Futu from $160.00 to $170.00 and gave the stock an "overweight" rating in a research report on Friday, March 14th. UBS Group raised their target price on shares of Futu from $130.00 to $136.00 and gave the company a "buy" rating in a report on Monday, March 17th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $121.20.
Read Our Latest Analysis on Futu
Futu Trading Down 1.1 %
NASDAQ:FUTU traded down $1.19 during trading hours on Friday, hitting $102.34. The stock had a trading volume of 1,534,229 shares, compared to its average volume of 2,820,966. The company has a market cap of $14.24 billion, a PE ratio of 25.08, a price-to-earnings-growth ratio of 0.79 and a beta of 0.67. Futu Holdings Limited has a 1-year low of $51.80 and a 1-year high of $130.88. The business has a 50 day simple moving average of $97.33 and a two-hundred day simple moving average of $94.56.
Futu Company 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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