Charles Schwab Investment Management Inc. raised its position in shares of Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 10.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,374 shares of the company's stock after buying an additional 5,705 shares during the period. Charles Schwab Investment Management Inc.'s holdings in Futu were worth $4,989,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also modified their holdings of FUTU. Natixis Advisors LLC purchased a new position in Futu during the 3rd quarter valued at about $1,100,000. Citigroup Inc. lifted its position in shares of Futu by 31.6% during the third quarter. Citigroup Inc. now owns 215,419 shares of the company's stock worth $20,605,000 after purchasing an additional 51,765 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Futu in the third quarter valued at approximately $891,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Futu in the third quarter valued at approximately $39,943,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Futu by 18.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,819 shares of the company's stock worth $1,704,000 after buying an additional 2,734 shares during the period.
Wall Street Analyst Weigh In
Several brokerages have commented on FUTU. JPMorgan Chase & Co. raised their price target on shares of Futu from $160.00 to $170.00 and gave the company an "overweight" rating in a research report on Friday, March 14th. UBS Group lifted 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 investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, Futu presently has an average rating of "Moderate Buy" and an average target price of $121.20.
Get Our Latest Report on Futu
Futu Stock Down 5.5 %
NASDAQ FUTU traded down $6.06 on Friday, hitting $103.62. 3,084,983 shares of the stock were exchanged, compared to its average volume of 2,627,605. Futu Holdings Limited has a fifty-two week low of $51.80 and a fifty-two week high of $130.88. The company has a 50-day moving average price of $107.52 and a 200-day moving average price of $94.66. The company has a market cap of $14.28 billion, a PE ratio of 25.40, a PEG ratio of 0.79 and a beta of 0.78.
Futu Company Profile
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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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