LPL Financial LLC Invests $381,000 in Futu Holdings Limited (NASDAQ:FUTU)

LPL Financial LLC acquired a new stake in Futu Holdings Limited (NASDAQ:FUTU - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 4,766 shares of the company's stock, valued at approximately $381,000.

Other institutional investors have also added to or reduced their stakes in the company. KLP Kapitalforvaltning AS purchased a new position in shares of Futu during the fourth quarter valued at approximately $2,189,000. Sei Investments Co. lifted its holdings in Futu by 381.3% in the fourth quarter. Sei Investments Co. now owns 51,903 shares of the company's stock valued at $4,152,000 after acquiring an additional 41,119 shares during the period. American Century Companies Inc. boosted its position in Futu by 5.7% in the fourth quarter. American Century Companies Inc. now owns 8,994 shares of the company's stock worth $719,000 after purchasing an additional 488 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of 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 purchasing an additional 113 shares during the last quarter. Finally, Platinum Investment Management Ltd. bought a new position in shares of Futu in the 4th quarter worth approximately $86,000.

Futu Price Performance

Shares of FUTU stock traded up $1.76 on Thursday, hitting $94.07. 296,143 shares of the stock traded hands, compared to its average volume of 2,826,914. The firm has a market cap of $12.96 billion, a price-to-earnings ratio of 22.96, a PEG ratio of 0.79 and a beta of 0.67. The firm has a 50 day simple moving average of $98.37 and a two-hundred day simple moving average of $94.37. Futu Holdings Limited has a 52 week low of $51.80 and a 52 week high of $130.88.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. UBS Group increased their price target 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. JPMorgan Chase & Co. raised their target price on Futu from $160.00 to $170.00 and gave the stock an "overweight" rating in a report on Friday, March 14th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $121.20.

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.