Futu Holdings Limited (NASDAQ:FUTU) Shares Sold by MY.Alpha Management HK Advisors Ltd

MY.Alpha Management HK Advisors Ltd decreased its stake in shares of Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 34.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 245,654 shares of the company's stock after selling 129,244 shares during the period. Futu accounts for 8.7% of MY.Alpha Management HK Advisors Ltd's investment portfolio, making the stock its 4th biggest position. MY.Alpha Management HK Advisors Ltd owned approximately 0.18% of Futu worth $19,650,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership purchased a new stake in Futu in the 4th quarter valued at about $116,315,000. Hhlr Advisors LTD. boosted its position in shares of Futu by 6.4% in the fourth quarter. Hhlr Advisors LTD. now owns 1,118,303 shares of the company's stock worth $89,453,000 after acquiring an additional 67,214 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Futu by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 567,635 shares of the company's stock worth $44,890,000 after acquiring an additional 21,686 shares during the last quarter. Norges Bank purchased a new stake in Futu in the fourth quarter valued at approximately $39,163,000. Finally, SG Americas Securities LLC increased its position in Futu by 236.6% during the fourth quarter. SG Americas Securities LLC now owns 374,193 shares of the company's stock worth $29,932,000 after purchasing an additional 263,040 shares during the last quarter.

Analyst Upgrades and Downgrades

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

Futu Stock Performance

NASDAQ FUTU opened at $112.34 on Wednesday. The firm has a market capitalization of $15.63 billion, a price-to-earnings ratio of 27.53, a PEG ratio of 0.79 and a beta of 0.67. Futu Holdings Limited has a one year low of $51.80 and a one year high of $130.88. The company's 50 day moving average price is $96.92 and its 200 day moving average price is $94.97.

About Futu

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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