KLP Kapitalforvaltning AS purchased a new stake in shares of Futu Holdings Limited (NASDAQ:FUTU - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 26,700 shares of the company's stock, valued at approximately $2,189,000.
Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its holdings in Futu by 19.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 56,669 shares of the company's stock valued at $5,420,000 after purchasing an additional 9,221 shares during the period. Quantbot Technologies LP bought a new stake in shares of Futu in the 3rd quarter worth approximately $891,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Futu during the third quarter valued at approximately $39,943,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Futu by 18.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,819 shares of the company's stock worth $1,704,000 after acquiring an additional 2,734 shares during the period. Finally, Public Sector Pension Investment Board lifted its stake in Futu by 17.1% in the third quarter. Public Sector Pension Investment Board now owns 36,214 shares of the company's stock worth $3,464,000 after acquiring an additional 5,300 shares during the period.
Analyst Ratings Changes
Several brokerages have commented on FUTU. JPMorgan Chase & Co. upped 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 increased their price target on shares of Futu from $130.00 to $136.00 and gave the stock a "buy" rating in a research note on Monday, March 17th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Futu currently has an average rating of "Moderate Buy" and a consensus target price of $121.20.
Check Out Our Latest Report on Futu
Futu Trading Up 1.0 %
Futu stock traded up $1.02 on Tuesday, hitting $103.37. 2,245,816 shares of the stock traded hands, compared to its average volume of 2,634,546. Futu Holdings Limited has a 1 year low of $51.80 and a 1 year high of $130.88. The firm has a market cap of $14.24 billion, a P/E ratio of 25.34, a price-to-earnings-growth ratio of 0.79 and a beta of 0.78. The business's fifty day simple moving average is $108.06 and its 200 day simple moving average is $95.55.
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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