Hsbc Holdings PLC Has $29.27 Million Holdings in Futu Holdings Limited (NASDAQ:FUTU)

Hsbc Holdings PLC lifted its stake in shares of Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 79.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 365,826 shares of the company's stock after purchasing an additional 161,443 shares during the period. Hsbc Holdings PLC owned approximately 0.27% of Futu worth $29,265,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of FUTU. Arrowstreet Capital Limited Partnership acquired a new position in shares of Futu in the fourth quarter worth about $116,315,000. Geode Capital Management LLC grew its position in Futu by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 567,635 shares of the company's stock worth $44,890,000 after purchasing an additional 21,686 shares in the last quarter. Norges Bank acquired a new stake in Futu during the 4th quarter worth about $39,163,000. SG Americas Securities LLC grew its stake in Futu by 236.6% during the 4th quarter. SG Americas Securities LLC now owns 374,193 shares of the company's stock valued at $29,932,000 after acquiring an additional 263,040 shares in the last quarter. Finally, Candriam S.C.A. purchased a new stake in shares of Futu in the fourth quarter worth approximately $28,004,000.

Futu Trading Up 2.7 %

Futu stock traded up $2.39 during mid-day trading on Tuesday, hitting $92.07. 1,877,232 shares of the company's stock were exchanged, compared to its average volume of 2,832,226. Futu Holdings Limited has a 1-year low of $51.80 and a 1-year high of $130.88. The stock has a 50 day moving average of $99.52 and a two-hundred day moving average of $94.40. The stock has a market cap of $12.69 billion, a P/E ratio of 22.57, a P/E/G ratio of 0.79 and a beta of 0.67.

Analyst Upgrades and Downgrades

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

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.