Intech Investment Management LLC Buys 25,207 Shares of Futu Holdings Limited (NASDAQ:FUTU)

Intech Investment Management LLC raised its holdings in shares of Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 453.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,765 shares of the company's stock after buying an additional 25,207 shares during the period. Intech Investment Management LLC's holdings in Futu were worth $2,461,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Smartleaf Asset Management LLC grew its holdings in shares of Futu by 1,245.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 444 shares of the company's stock worth $36,000 after purchasing an additional 411 shares during the last quarter. Rakuten Securities Inc. increased its position in shares of Futu by 239.8% in the fourth quarter. Rakuten Securities Inc. now owns 683 shares of the company's stock valued at $55,000 after acquiring an additional 482 shares during the period. Assetmark Inc. raised its stake in shares of Futu by 15,200.0% during the fourth quarter. Assetmark Inc. now owns 765 shares of the company's stock valued at $61,000 after acquiring an additional 760 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Futu by 31.0% during the fourth quarter. GAMMA Investing LLC now owns 778 shares of the company's stock worth $62,000 after purchasing an additional 184 shares during the period. Finally, Vestcor Inc grew its stake in shares of 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 last quarter.

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Futu Stock Up 0.2 %

Shares of NASDAQ:FUTU traded up $0.23 during trading on Tuesday, hitting $107.99. The stock had a trading volume of 1,375,404 shares, compared to its average volume of 2,544,856. The company has a market capitalization of $14.88 billion, a PE ratio of 26.47, a PEG ratio of 0.79 and a beta of 0.78. The firm's fifty day moving average is $105.46 and its 200 day moving average is $93.55. Futu Holdings Limited has a 12 month low of $51.80 and a 12 month high of $130.88.

Analyst Ratings Changes

FUTU has been the subject of several research analyst reports. UBS Group increased their price objective on Futu from $130.00 to $136.00 and gave the stock a "buy" rating in a report on Monday, March 17th. JPMorgan Chase & Co. raised their price target on Futu from $160.00 to $170.00 and gave the stock an "overweight" rating in a research note 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. According to data from MarketBeat, Futu currently has an average rating of "Moderate Buy" and a consensus price target 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.