Quantessence Capital LLC acquired a new position in Futu Holdings Limited (NASDAQ:FUTU - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,299 shares of the company's stock, valued at approximately $584,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Hsbc Holdings PLC raised its stake in Futu by 79.0% in the fourth quarter. Hsbc Holdings PLC now owns 365,826 shares of the company's stock worth $29,265,000 after buying an additional 161,443 shares in the last quarter. J. Safra Sarasin Holding AG purchased a new position in shares of Futu during the 4th quarter worth approximately $1,403,000. Stifel Financial Corp bought a new position in shares of Futu in the 4th quarter worth approximately $349,000. Tower Research Capital LLC TRC lifted its stake in shares of Futu by 4,876.9% in 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 period. Finally, MetLife Investment Management LLC boosted its position in shares of Futu by 10.2% during the fourth quarter. MetLife Investment Management LLC now owns 6,500 shares of the company's stock valued at $520,000 after purchasing an additional 600 shares in the last quarter.
Futu Price Performance
FUTU stock traded down $6.04 on Friday, reaching $87.85. 5,027,910 shares of the company traded hands, compared to its average volume of 2,838,304. The firm has a fifty day simple moving average of $100.16 and a 200-day simple moving average of $94.64. The company has a market cap of $12.11 billion, a P/E ratio of 21.53, a price-to-earnings-growth 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.
Analysts Set New Price Targets
A number of research firms have issued reports on FUTU. JPMorgan Chase & Co. increased their price objective on 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 target price 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 issued a buy rating to the company. According to MarketBeat, Futu presently has an average rating of "Moderate Buy" and a consensus price target of $121.20.
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About Futu
(
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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