Connor Clark & Lunn Investment Management Ltd. Buys 21,746 Shares of Futu Holdings Limited (NASDAQ:FUTU)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 41.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 74,276 shares of the company's stock after acquiring an additional 21,746 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.05% of Futu worth $5,941,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FUTU. Janney Montgomery Scott LLC raised its holdings in Futu by 20.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 9,841 shares of the company's stock worth $941,000 after buying an additional 1,650 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in Futu during the 3rd quarter worth about $346,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in Futu by 14.8% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 117,561 shares of the company's stock worth $11,245,000 after buying an additional 15,127 shares during the period. CIBC Asset Management Inc raised its holdings in Futu by 4.3% during the 3rd quarter. CIBC Asset Management Inc now owns 5,403 shares of the company's stock worth $517,000 after buying an additional 222 shares during the period. Finally, Central Asset Investments & Management Holdings HK Ltd acquired a new stake in Futu during the 3rd quarter worth about $7,652,000.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on FUTU shares. Citigroup downgraded Futu from a "buy" rating to a "neutral" rating and boosted their price objective for the stock from $79.00 to $95.00 in a report on Tuesday, November 19th. JPMorgan Chase & Co. boosted their price objective on Futu from $160.00 to $170.00 and gave the stock an "overweight" rating in a report on Friday, March 14th. Finally, UBS Group boosted their price objective on Futu from $130.00 to $136.00 and gave the stock a "buy" rating in a report on Monday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $121.20.

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Futu Stock Performance

Shares of NASDAQ FUTU traded up $0.23 during trading hours on Wednesday, hitting $114.70. The stock had a trading volume of 1,632,208 shares, compared to its average volume of 2,527,232. The company has a market capitalization of $15.80 billion, a P/E ratio of 28.11, a P/E/G ratio of 0.79 and a beta of 0.78. The firm's 50-day moving average price is $102.81 and its two-hundred day moving average price is $92.19. Futu Holdings Limited has a 52 week low of $51.80 and a 52 week high of $130.88.

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.