Candriam S.C.A. Takes $28 Million Position in Futu Holdings Limited (NASDAQ:FUTU)

Candriam S.C.A. bought a new stake in Futu Holdings Limited (NASDAQ:FUTU - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 350,100 shares of the company's stock, valued at approximately $28,004,000. Candriam S.C.A. owned about 0.25% of Futu as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in FUTU. Aspex Management HK Ltd raised its position in shares of Futu by 2.4% in the third quarter. Aspex Management HK Ltd now owns 4,553,023 shares of the company's stock valued at $435,497,000 after purchasing an additional 108,219 shares during the period. Hhlr Advisors LTD. increased its position in Futu by 46.8% during the third quarter. Hhlr Advisors LTD. now owns 1,051,089 shares of the company's stock worth $100,537,000 after acquiring an additional 335,000 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Futu by 502.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 558,746 shares of the company's stock worth $53,444,000 after acquiring an additional 465,961 shares during the period. Geode Capital Management LLC increased its position in Futu by 3.3% during the third quarter. Geode Capital Management LLC now owns 545,949 shares of the company's stock worth $51,475,000 after acquiring an additional 17,513 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in Futu during the third quarter worth $39,943,000.

Futu Stock Performance

Futu stock traded down $3.79 during trading hours on Friday, reaching $113.00. 2,524,056 shares of the company's stock traded hands, compared to its average volume of 2,775,027. The firm has a market capitalization of $15.57 billion, a price-to-earnings ratio of 27.70, a PEG ratio of 0.79 and a beta of 0.78. The firm's 50 day moving average is $97.71 and its 200-day moving average is $88.95. Futu Holdings Limited has a fifty-two week low of $51.80 and a fifty-two week high of $130.88.

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Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Morgan Stanley raised shares of Futu from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $70.00 to $115.00 in a research report on Monday, November 18th. Citigroup lowered shares of Futu from a "buy" rating to a "neutral" rating and boosted their price target for the company from $79.00 to $95.00 in a report on Tuesday, November 19th. 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, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $91.40.

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.