Tredje AP fonden Buys New Shares in Futu Holdings Limited (NASDAQ:FUTU)

Tredje AP fonden purchased a new stake in Futu Holdings Limited (NASDAQ:FUTU - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 41,600 shares of the company's stock, valued at approximately $3,328,000.

Several other institutional investors also recently made changes to their positions in the stock. Janney Montgomery Scott LLC lifted its holdings in Futu by 20.1% in the third quarter. Janney Montgomery Scott LLC now owns 9,841 shares of the company's stock worth $941,000 after purchasing an additional 1,650 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in Futu in the 3rd quarter valued at about $346,000. Venturi Wealth Management LLC acquired a new stake in shares of Futu during the third quarter worth $92,000. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Futu by 14.8% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 117,561 shares of the company's stock worth $11,245,000 after purchasing an additional 15,127 shares during the period. Finally, Plato Investment Management Ltd acquired a new stake in shares of Futu during the third quarter worth $784,000.

Futu Stock Down 2.3 %

FUTU stock traded down $2.64 during midday trading on Tuesday, reaching $114.47. 3,563,951 shares of the company's stock traded hands, compared to its average volume of 2,529,000. The company has a 50-day simple moving average of $102.11 and a two-hundred day simple moving average of $91.83. 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 $15.77 billion, a price-to-earnings ratio of 28.06, a PEG ratio of 0.79 and a beta of 0.78.

Remove Ads

Analysts Set New Price Targets

Several research analysts recently weighed in on FUTU shares. UBS Group upped their price target on Futu from $130.00 to $136.00 and gave the company a "buy" rating in a research report on Monday. JPMorgan Chase & Co. upped their target price on Futu from $160.00 to $170.00 and gave the stock an "overweight" rating in a research report on Friday. Morgan Stanley upgraded Futu from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $70.00 to $115.00 in a research note on Monday, November 18th. Finally, Citigroup downgraded Futu from a "buy" rating to a "neutral" rating and upped their price target for the stock from $79.00 to $95.00 in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $111.83.

Futu 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.