Bank of New York Mellon Corp boosted its position in shares of Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 4.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 90,267 shares of the company's stock after acquiring an additional 3,968 shares during the period. Bank of New York Mellon Corp owned about 0.07% of Futu worth $7,220,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the company. New York State Common Retirement Fund acquired a new position in shares of Futu during the fourth quarter worth $2,436,000. GAM Holding AG purchased a new position in shares of Futu in the 4th quarter valued at about $480,000. CIBC Asset Management Inc raised its position in shares of Futu by 12.7% during the 4th quarter. CIBC Asset Management Inc now owns 6,089 shares of the company's stock worth $487,000 after acquiring an additional 686 shares in the last quarter. Csenge Advisory Group acquired a new position in Futu in the fourth quarter valued at approximately $422,000. Finally, Rhumbline Advisers increased its stake in Futu by 0.6% in the fourth quarter. Rhumbline Advisers now owns 23,023 shares of the company's stock valued at $1,842,000 after purchasing an additional 144 shares during the last quarter.
Futu Stock Up 1.0 %
FUTU stock traded up $1.15 during trading on Wednesday, hitting $115.62. The company had a trading volume of 1,389,166 shares, compared to its average volume of 2,526,441. The firm has a 50-day moving average price of $102.81 and a 200-day moving average price of $92.19. The firm has a market cap of $15.93 billion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 0.79 and a beta of 0.78. Futu Holdings Limited has a 1-year low of $51.80 and a 1-year high of $130.88.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on FUTU shares. UBS Group boosted their price target on shares of Futu from $130.00 to $136.00 and gave the company a "buy" rating in a research report on Monday. Citigroup cut Futu from a "buy" rating to a "neutral" rating and upped their target price for the company from $79.00 to $95.00 in a research report on Tuesday, November 19th. Finally, JPMorgan Chase & Co. boosted their price objective on Futu from $160.00 to $170.00 and gave the company an "overweight" rating in a research note on Friday, March 14th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Futu currently has a consensus rating of "Moderate Buy" and a consensus price target of $121.20.
Check Out Our Latest Research Report on FUTU
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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