Futu Holdings Limited (NASDAQ:FUTU) Shares Acquired by AI Squared Management Ltd

AI Squared Management Ltd lifted its position in shares of Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 20.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 87,598 shares of the company's stock after purchasing an additional 15,098 shares during the period. Futu comprises 7.2% of AI Squared Management Ltd's investment portfolio, making the stock its 6th largest holding. AI Squared Management Ltd owned approximately 0.06% of Futu worth $7,007,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in FUTU. Smartleaf Asset Management LLC grew its holdings in Futu by 1,245.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 444 shares of the company's stock worth $36,000 after acquiring an additional 411 shares during the last quarter. Rakuten Securities Inc. lifted its holdings in shares of Futu by 239.8% during the fourth quarter. Rakuten Securities Inc. now owns 683 shares of the company's stock worth $55,000 after purchasing an additional 482 shares during the period. Assetmark Inc. grew its stake in shares of Futu by 15,200.0% in the fourth quarter. Assetmark Inc. now owns 765 shares of the company's stock worth $61,000 after purchasing an additional 760 shares during the last quarter. GAMMA Investing LLC increased its holdings 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 purchasing an additional 184 shares during the period. Finally, Vestcor Inc raised its position in Futu by 19.2% during the 4th quarter. Vestcor Inc now owns 907 shares of the company's stock worth $73,000 after purchasing an additional 146 shares during the last quarter.

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Analysts Set New Price Targets

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. upped their price target on Futu from $160.00 to $170.00 and gave the company an "overweight" rating in a research report on Friday, March 14th. UBS Group upped their target price 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 given a buy rating to the stock. Based on data from MarketBeat.com, Futu has a consensus rating of "Moderate Buy" and an average price target of $121.20.

Futu Stock Down 5.5 %

FUTU traded down $6.06 during trading on Friday, reaching $103.62. 3,084,983 shares of the stock traded hands, compared to its average volume of 2,627,605. The stock's 50-day moving average is $107.52 and its 200 day moving average is $94.66. Futu Holdings Limited has a 12 month low of $51.80 and a 12 month high of $130.88. The stock has a market capitalization of $14.28 billion, a PE ratio of 25.40, a P/E/G ratio of 0.79 and a beta of 0.78.

About Futu

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.