Geode Capital Management LLC Grows Stake in Futu Holdings Limited (NASDAQ:FUTU)

Geode Capital Management LLC grew its holdings in shares of Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 4.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 567,635 shares of the company's stock after purchasing an additional 21,686 shares during the period. Geode Capital Management LLC owned about 0.41% of Futu worth $44,890,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in FUTU. Smartleaf Asset Management LLC boosted its holdings in Futu by 1,245.5% in the fourth 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. grew its position in shares of Futu by 239.8% during the fourth quarter. Rakuten Securities Inc. now owns 683 shares of the company's stock worth $55,000 after buying an additional 482 shares in the last quarter. Assetmark Inc. grew its position 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 buying an additional 760 shares in the last quarter. GAMMA Investing LLC raised its stake 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 buying an additional 184 shares in the last quarter. Finally, Vestcor Inc boosted its position in shares of Futu by 19.2% during the 4th quarter. Vestcor Inc now owns 907 shares of the company's stock worth $73,000 after acquiring an additional 146 shares in the last quarter.

Futu Stock Down 1.1 %

FUTU stock traded down $0.85 on Friday, reaching $79.65. 1,843,527 shares of the company's stock were exchanged, compared to its average volume of 2,827,835. Futu Holdings Limited has a twelve month low of $51.80 and a twelve month high of $130.88. The stock has a fifty day moving average of $103.46 and a 200-day moving average of $95.80. The firm has a market cap of $10.98 billion, a PE ratio of 19.52, a P/E/G ratio of 0.79 and a beta of 0.67.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FUTU. JPMorgan Chase & Co. raised their target price on Futu from $160.00 to $170.00 and gave the stock an "overweight" rating in a research report on Friday, March 14th. UBS Group lifted their price objective on shares of Futu from $130.00 to $136.00 and gave the company a "buy" rating in a research report on Monday, March 17th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $121.20.

Futu Company Profile

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.