Bailard Inc. Purchases 10,000 Shares of Futu Holdings Limited (NASDAQ:FUTU)

Bailard Inc. boosted its holdings in Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 66.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,000 shares of the company's stock after buying an additional 10,000 shares during the period. Bailard Inc.'s holdings in Futu were worth $2,000,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of FUTU. Smartleaf Asset Management LLC increased its position in shares of Futu by 1,245.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 444 shares of the company's stock worth $36,000 after acquiring an additional 411 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Futu by 31.0% during the fourth quarter. GAMMA Investing LLC now owns 778 shares of the company's stock worth $62,000 after purchasing an additional 184 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Futu by 14.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 877 shares of the company's stock worth $84,000 after purchasing an additional 112 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in Futu during the third quarter worth $92,000. Finally, Janus Henderson Group PLC acquired a new stake in Futu in the third quarter valued at $201,000.

Futu Stock Down 3.2 %

Futu stock traded down $3.86 during trading on Thursday, hitting $117.24. The stock had a trading volume of 1,988,287 shares, compared to its average volume of 2,749,042. Futu Holdings Limited has a 1 year low of $51.80 and a 1 year high of $130.88. The stock's 50 day moving average is $97.10 and its two-hundred day moving average is $88.75. The stock has a market cap of $16.15 billion, a price-to-earnings ratio of 28.73, a price-to-earnings-growth ratio of 0.79 and a beta of 0.78.

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Analyst Upgrades and Downgrades

A number of analysts have commented on FUTU shares. Morgan Stanley upgraded shares of Futu from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $70.00 to $115.00 in a research note on Monday, November 18th. Citigroup lowered shares of Futu from a "buy" rating to a "neutral" rating and raised their target price for the company from $79.00 to $95.00 in a report on Tuesday, November 19th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $91.40.

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.