17,420 Shares in Futu Holdings Limited (NASDAQ:FUTU) Bought by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG purchased a new position in Futu Holdings Limited (NASDAQ:FUTU - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 17,420 shares of the company's stock, valued at approximately $1,403,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its position in Futu by 1,245.5% in 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 period. Rakuten Securities Inc. boosted its stake in 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 position in Futu by 15,200.0% during the fourth quarter. Assetmark Inc. now owns 765 shares of the company's stock worth $61,000 after buying an additional 760 shares in the last quarter. GAMMA Investing LLC increased its stake in Futu by 31.0% in the fourth quarter. GAMMA Investing LLC now owns 778 shares of the company's stock valued at $62,000 after acquiring an additional 184 shares during the last quarter. Finally, Vestcor Inc lifted its stake in shares of Futu by 19.2% in the 4th quarter. Vestcor Inc now owns 907 shares of the company's stock valued at $73,000 after acquiring an additional 146 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on FUTU shares. JPMorgan Chase & Co. lifted 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. UBS Group boosted their price objective on shares of Futu from $130.00 to $136.00 and gave the company a "buy" rating in a research note 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 company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $121.20.

Futu Price Performance

FUTU opened at $85.34 on Wednesday. The firm has a market cap of $11.76 billion, a price-to-earnings ratio of 20.92, a PEG ratio of 0.79 and a beta of 0.67. The stock's 50 day simple moving average is $102.10 and its 200 day simple moving average is $95.20. Futu Holdings Limited has a 1 year low of $51.80 and a 1 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.

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