CANADA LIFE ASSURANCE Co boosted its stake in Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 50.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 66,117 shares of the company's stock after acquiring an additional 22,211 shares during the period. CANADA LIFE ASSURANCE Co's holdings in Futu were worth $5,286,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its stake in shares of Futu by 1,245.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 444 shares of the company's stock valued at $36,000 after purchasing an additional 411 shares during the period. Rakuten Securities Inc. increased its stake in Futu by 239.8% in the 4th quarter. Rakuten Securities Inc. now owns 683 shares of the company's stock worth $55,000 after purchasing an additional 482 shares during the period. Assetmark Inc. boosted its holdings in shares of Futu by 15,200.0% during the fourth quarter. Assetmark Inc. now owns 765 shares of the company's stock worth $61,000 after purchasing an additional 760 shares during the period. GAMMA Investing LLC boosted its holdings in Futu by 31.0% in the fourth quarter. GAMMA Investing LLC now owns 778 shares of the company's stock valued at $62,000 after acquiring an additional 184 shares in the last quarter. Finally, Vestcor Inc grew its stake in Futu by 19.2% in the fourth quarter. Vestcor Inc now owns 907 shares of the company's stock worth $73,000 after purchasing an additional 146 shares during the period.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on the company. UBS Group lifted their price target on Futu from $130.00 to $136.00 and gave the stock a "buy" rating in a research report on Monday, March 17th. JPMorgan Chase & Co. boosted their target price on shares of Futu from $160.00 to $170.00 and gave the stock an "overweight" rating in a report on Friday, March 14th. One research 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, Futu presently has an average rating of "Moderate Buy" and a consensus target price of $121.20.
Read Our Latest Research Report on Futu
Futu Stock Performance
FUTU stock traded down $6.04 during midday trading on Friday, reaching $87.85. The company's stock had a trading volume of 5,027,910 shares, compared to its average volume of 2,838,304. The firm has a market capitalization of $12.11 billion, a price-to-earnings ratio of 21.53, a PEG ratio of 0.79 and a beta of 0.67. The stock has a fifty day simple moving average of $100.16 and a two-hundred day simple moving average of $94.64. Futu Holdings Limited has a 1 year low of $51.80 and a 1 year high of $130.88.
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.
Read More
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
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Enter your email address to learn more about using beta to protect your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
