Northern Trust Corp Increases Stock Holdings in Futu Holdings Limited (NASDAQ:FUTU)

Northern Trust Corp lifted its stake in Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 89.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 348,413 shares of the company's stock after buying an additional 164,892 shares during the period. Northern Trust Corp owned approximately 0.25% of Futu worth $27,870,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FUTU. Smartleaf Asset Management LLC grew its holdings in shares of Futu by 1,245.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 444 shares of the company's stock worth $36,000 after purchasing an additional 411 shares during the last quarter. Rakuten Securities Inc. boosted its position in shares of Futu by 239.8% in the 4th quarter. Rakuten Securities Inc. now owns 683 shares of the company's stock valued at $55,000 after purchasing an additional 482 shares during the period. Assetmark Inc. grew its stake in Futu by 15,200.0% during the 4th quarter. Assetmark Inc. now owns 765 shares of the company's stock worth $61,000 after buying an additional 760 shares during the last quarter. GAMMA Investing LLC increased its position in Futu by 31.0% during the fourth quarter. GAMMA Investing LLC now owns 778 shares of the company's stock worth $62,000 after buying an additional 184 shares during the period. Finally, Vestcor Inc lifted its stake in Futu by 19.2% in the fourth quarter. Vestcor Inc now owns 907 shares of the company's stock valued at $73,000 after buying an additional 146 shares during the last quarter.

Wall Street Analysts Forecast Growth

FUTU has been the topic of a number of research reports. JPMorgan Chase & Co. raised their target price 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 upped their price objective on shares of Futu from $130.00 to $136.00 and gave the stock a "buy" rating in a research report on Monday, March 17th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $121.20.

Futu Stock Down 0.6%

Shares of NASDAQ FUTU traded down $0.63 during midday trading on Wednesday, hitting $111.71. The company had a trading volume of 1,896,333 shares, compared to its average volume of 2,826,547. The business has a 50-day simple moving average of $96.92 and a two-hundred day simple moving average of $94.97. Futu Holdings Limited has a twelve month low of $51.80 and a twelve month high of $130.88. The firm has a market capitalization of $15.54 billion, a price-to-earnings ratio of 27.38, a price-to-earnings-growth ratio of 0.79 and a beta of 0.67.

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.