Futu Holdings Limited (NASDAQ:FUTU) Shares Sold by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV cut its position in Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 49.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,174 shares of the company's stock after selling 6,017 shares during the quarter. Mercer Global Advisors Inc. ADV's holdings in Futu were worth $494,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of FUTU. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Futu by 1.2% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,326 shares of the company's stock valued at $746,000 after acquiring an additional 113 shares during the period. Rhumbline Advisers lifted its position in shares of Futu by 0.6% during the fourth quarter. Rhumbline Advisers now owns 23,023 shares of the company's stock worth $1,842,000 after purchasing an additional 144 shares in the last quarter. Vestcor Inc boosted its stake in shares of Futu by 19.2% in the fourth 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. Voya Investment Management LLC grew its holdings in shares of Futu by 1.6% in the fourth quarter. Voya Investment Management LLC now owns 9,549 shares of the company's stock valued at $764,000 after purchasing an additional 153 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Futu by 31.0% in the fourth quarter. GAMMA Investing LLC now owns 778 shares of the company's stock valued at $62,000 after purchasing an additional 184 shares in the last quarter.

Futu Price Performance

Shares of FUTU stock traded up $1.82 during trading hours on Friday, reaching $107.58. 2,228,875 shares of the stock were exchanged, compared to its average volume of 2,832,913. The business's fifty day moving average is $96.89 and its two-hundred day moving average is $95.14. The firm has a market capitalization of $14.97 billion, a P/E ratio of 26.37, a P/E/G ratio of 0.79 and a beta of 0.67. Futu Holdings Limited has a 12-month low of $51.80 and a 12-month high of $130.88.

Analyst Ratings Changes

A number of research firms have issued reports on FUTU. 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 price objective on Futu from $160.00 to $170.00 and gave the company an "overweight" rating in a research note on Friday, March 14th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average 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.