Hsbc Holdings PLC Purchases 161,443 Shares of Futu Holdings Limited (NASDAQ:FUTU)

Hsbc Holdings PLC increased its holdings in Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 79.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 365,826 shares of the company's stock after purchasing an additional 161,443 shares during the quarter. Hsbc Holdings PLC owned approximately 0.27% of Futu worth $29,265,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in FUTU. Norges Bank bought a new position in Futu in the fourth quarter worth approximately $39,163,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Futu by 183.6% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 333,401 shares of the company's stock worth $26,669,000 after acquiring an additional 215,840 shares during the period. Nomura Asset Management Co. Ltd. increased its position in Futu by 189.5% in the fourth 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 during the last quarter. Sei Investments Co. increased its position in Futu by 381.3% in the fourth quarter. Sei Investments Co. now owns 51,903 shares of the company's stock worth $4,152,000 after buying an additional 41,119 shares during the last quarter. Finally, APG Asset Management N.V. purchased a new stake in Futu in the fourth quarter worth $3,399,000.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on FUTU shares. UBS Group increased their price objective on Futu from $130.00 to $136.00 and gave the stock a "buy" rating in a report on Monday, March 17th. JPMorgan Chase & Co. raised their price objective on Futu from $160.00 to $170.00 and gave the company an "overweight" rating in a report on Friday, March 14th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $121.20.

Futu Stock Up 2.6 %

Shares of NASDAQ:FUTU traded up $2.40 during midday trading on Thursday, hitting $94.71. 825,141 shares of the stock traded hands, compared to its average volume of 2,828,792. The business's 50 day moving average is $98.37 and its two-hundred day moving average is $94.37. The stock has a market capitalization of $13.05 billion, a PE ratio of 23.25, a P/E/G 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.

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.