Price T Rowe Associates Inc. MD trimmed its stake in Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 17.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,368,627 shares of the company's stock after selling 280,076 shares during the period. Price T Rowe Associates Inc. MD owned 0.99% of Futu worth $109,477,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quantessence Capital LLC bought a new stake in Futu during the 4th quarter valued at approximately $584,000. Hsbc Holdings PLC boosted its position in shares of Futu by 79.0% in the fourth quarter. Hsbc Holdings PLC now owns 365,826 shares of the company's stock valued at $29,265,000 after acquiring an additional 161,443 shares during the period. J. Safra Sarasin Holding AG acquired a new stake in shares of Futu in the fourth quarter worth $1,403,000. Stifel Financial Corp bought a new position in Futu during the fourth quarter worth $349,000. Finally, Tower Research Capital LLC TRC raised its stake in Futu by 4,876.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,588 shares of the company's stock valued at $207,000 after purchasing an additional 2,536 shares during the last quarter.
Futu Stock Performance
Shares of FUTU stock traded up $5.09 during mid-day trading on Friday, reaching $98.60. The company's stock had a trading volume of 2,114,867 shares, compared to its average volume of 2,828,372. The firm's 50-day moving average is $97.91 and its two-hundred day moving average is $94.30. Futu Holdings Limited has a 1-year low of $51.80 and a 1-year high of $130.88. The company has a market cap of $13.59 billion, a P/E ratio of 24.17, a PEG ratio of 0.79 and a beta of 0.67.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Futu from $160.00 to $170.00 and gave the stock an "overweight" rating in a report on Friday, March 14th. UBS Group upped their price target on Futu from $130.00 to $136.00 and gave the company a "buy" rating in a report on Monday, March 17th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $121.20.
Check Out Our Latest Stock Analysis on FUTU
Futu Company Profile
(
Free Report)
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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