Federated Hermes Inc. lowered its stake in shares of Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 89.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,247 shares of the company's stock after selling 27,087 shares during the period. Federated Hermes Inc.'s holdings in Futu were worth $260,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Norges Bank purchased a new stake in Futu during the fourth quarter valued at $39,163,000. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Futu by 183.6% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 333,401 shares of the company's stock valued at $26,669,000 after purchasing an additional 215,840 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in shares of Futu by 189.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 39,047 shares of the company's stock worth $3,123,000 after purchasing an additional 25,557 shares during the period. Sei Investments Co. boosted its holdings in shares of Futu by 381.3% in the fourth quarter. Sei Investments Co. now owns 51,903 shares of the company's stock worth $4,152,000 after buying an additional 41,119 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. bought a new stake in Futu during the fourth quarter valued at approximately $1,200,000.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on FUTU. UBS Group lifted their price target on shares of Futu from $130.00 to $136.00 and gave the stock a "buy" rating in a research note on Monday, March 17th. JPMorgan Chase & Co. lifted their target price on Futu from $160.00 to $170.00 and gave the company an "overweight" rating in a research report on Friday, March 14th. One research 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.com, Futu currently has a consensus rating of "Moderate Buy" and an average target price of $121.20.
Read Our Latest Research Report on FUTU
Futu Stock Performance
Shares of NASDAQ FUTU traded up $2.59 during midday trading on Thursday, reaching $90.87. The stock had a trading volume of 558,764 shares, compared to its average volume of 3,002,641. Futu Holdings Limited has a 12-month low of $51.80 and a 12-month high of $130.88. The stock has a 50-day moving average of $101.43 and a 200-day moving average of $95.16. The company has a market capitalization of $12.52 billion, a price-to-earnings ratio of 22.27, a price-to-earnings-growth ratio of 0.79 and a beta of 0.67.
Futu Profile
(
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.
Featured Stories
Before you consider Futu, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Futu wasn't on the list.
While Futu currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
