Korea Investment CORP grew its stake in shares of Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 42.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,214 shares of the company's stock after purchasing an additional 10,721 shares during the quarter. Korea Investment CORP's holdings in Futu were worth $2,897,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of FUTU. Smartleaf Asset Management LLC grew its stake in shares of Futu by 1,245.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 444 shares of the company's stock valued at $36,000 after acquiring an additional 411 shares in the last quarter. Rakuten Securities Inc. grew its stake in Futu by 239.8% during the 4th quarter. Rakuten Securities Inc. now owns 683 shares of the company's stock valued at $55,000 after purchasing an additional 482 shares in the last quarter. Assetmark Inc. increased its holdings in Futu by 15,200.0% during the 4th quarter. Assetmark Inc. now owns 765 shares of the company's stock worth $61,000 after purchasing an additional 760 shares during the last quarter. GAMMA Investing LLC increased its holdings in Futu by 31.0% during the 4th quarter. GAMMA Investing LLC now owns 778 shares of the company's stock worth $62,000 after purchasing an additional 184 shares during the last quarter. Finally, Vestcor Inc raised its position 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 purchasing an additional 146 shares in the last quarter.
Futu Stock Performance
Shares of Futu stock traded down $13.98 on Friday, reaching $83.51. 8,685,634 shares of the company were exchanged, compared to its average volume of 2,686,535. The firm has a market cap of $11.51 billion, a price-to-earnings ratio of 20.47, a P/E/G ratio of 0.79 and a beta of 0.67. Futu Holdings Limited has a 1-year low of $51.80 and a 1-year high of $130.88. The company's 50-day moving average is $108.17 and its two-hundred day moving average is $96.30.
Analysts Set New Price Targets
A number of analysts recently issued reports on the stock. UBS Group lifted their price target on shares of Futu from $130.00 to $136.00 and gave the stock a "buy" rating in a research note on Monday, March 17th. JPMorgan Chase & Co. raised their price objective on shares of Futu from $160.00 to $170.00 and gave the stock an "overweight" rating in a report on Friday, March 14th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $121.20.
Read Our Latest Report on FUTU
Futu 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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