Hel Ved Capital Management Ltd purchased a new position in Futu Holdings Limited (NASDAQ:FUTU - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 155,000 shares of the company's stock, valued at approximately $12,398,000. Futu comprises about 3.6% of Hel Ved Capital Management Ltd's portfolio, making the stock its 6th largest position. Hel Ved Capital Management Ltd owned 0.11% of Futu at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Arrowstreet Capital Limited Partnership bought a new stake in Futu in the 4th quarter worth approximately $116,315,000. Norges Bank purchased a new stake in shares of Futu in the fourth quarter worth about $39,163,000. Candriam S.C.A. purchased a new position in shares of Futu in the 4th quarter worth $28,004,000. William Blair Investment Management LLC lifted its position in Futu by 1,325.6% in the fourth quarter. William Blair Investment Management LLC now owns 285,120 shares of the company's stock worth $22,806,000 after buying an additional 265,120 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Futu by 236.6% in the fourth quarter. SG Americas Securities LLC now owns 374,193 shares of the company's stock worth $29,932,000 after buying an additional 263,040 shares during the period.
Futu Stock Performance
Shares of NASDAQ FUTU traded down $4.87 during mid-day trading on Thursday, reaching $75.32. 1,976,726 shares of the company's stock were exchanged, compared to its average volume of 2,739,833. Futu Holdings Limited has a 52-week low of $51.80 and a 52-week high of $130.88. The company's 50-day moving average is $106.22 and its 200-day moving average is $96.28. The firm has a market capitalization of $10.38 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 0.79 and a beta of 0.67.
Wall Street Analyst Weigh In
FUTU has been the subject of several recent research reports. UBS Group lifted 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. lifted their price objective on shares of Futu from $160.00 to $170.00 and gave the stock an "overweight" rating in a research note 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's stock. According to MarketBeat, Futu currently has an average rating of "Moderate Buy" and an average target price of $121.20.
Check Out Our Latest Stock Analysis on FUTU
Futu Company 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.
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