Legal & General Group Plc decreased its position in shares of Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 25.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 350,137 shares of the company's stock after selling 118,699 shares during the period. Legal & General Group Plc owned about 0.25% of Futu worth $28,007,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in FUTU. HighTower Advisors LLC purchased a new stake in Futu during the 3rd quarter worth about $277,000. Janus Henderson Group PLC purchased a new position in Futu during the 3rd quarter worth $201,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Futu during the third quarter worth about $373,000. M&T Bank Corp acquired a new position in Futu in the 3rd quarter valued at about $203,000. Finally, Geode Capital Management LLC raised its stake in Futu by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 545,949 shares of the company's stock valued at $51,475,000 after acquiring an additional 17,513 shares during 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 2,811,256. 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 $103.99 and a 200-day moving average of $96.11. 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 research analysts have weighed in on the company. UBS Group lifted their target price on Futu from $130.00 to $136.00 and gave the company a "buy" rating in a research note on Monday, March 17th. JPMorgan Chase & Co. raised their target price 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 research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $121.20.
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About Futu
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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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