Taikang Asset Management Hong Kong Co Ltd Lowers Holdings in Futu Holdings Limited (NASDAQ:FUTU)

Taikang Asset Management Hong Kong Co Ltd cut its stake in Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 99.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 882 shares of the company's stock after selling 144,782 shares during the period. Taikang Asset Management Hong Kong Co Ltd's holdings in Futu were worth $71,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in FUTU. Smartleaf Asset Management LLC raised its holdings 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 worth $36,000 after acquiring an additional 411 shares during the period. Rakuten Securities Inc. raised its stake in Futu by 239.8% during the fourth 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. raised its stake in 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 4th quarter. GAMMA Investing LLC now owns 778 shares of the company's stock valued at $62,000 after purchasing an additional 184 shares during the last quarter. Finally, Vestcor Inc grew its stake in shares of Futu by 19.2% in the 4th quarter. Vestcor Inc now owns 907 shares of the company's stock valued at $73,000 after buying an additional 146 shares during the period.

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Wall Street Analyst Weigh In

A number of research analysts recently commented on FUTU shares. UBS Group upped their price objective on Futu from $130.00 to $136.00 and gave the company a "buy" rating in a report on Monday, March 17th. JPMorgan Chase & Co. increased their price target on Futu from $160.00 to $170.00 and gave the stock an "overweight" rating in a report on Friday, March 14th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $121.20.

Futu Price Performance

Shares of NASDAQ:FUTU traded down $6.06 during mid-day trading on Friday, reaching $103.62. 3,084,983 shares of the company were exchanged, compared to its average volume of 2,627,605. Futu Holdings Limited has a 1 year low of $51.80 and a 1 year high of $130.88. The firm's 50-day simple moving average is $107.52 and its 200 day simple moving average is $94.66. The firm has a market cap of $14.28 billion, a price-to-earnings ratio of 25.40, a P/E/G ratio of 0.79 and a beta of 0.78.

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.