Marshall Wace LLP cut its stake in shares of Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 67.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 518,051 shares of the company's stock after selling 1,075,877 shares during the quarter. Marshall Wace LLP owned approximately 0.38% of Futu worth $41,439,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. NewEdge Advisors LLC lifted its holdings in Futu by 17,800.0% during the 4th quarter. NewEdge Advisors LLC now owns 3,043 shares of the company's stock valued at $243,000 after purchasing an additional 3,026 shares during the last quarter. Jump Financial LLC boosted its holdings in shares of Futu by 798.0% in the 4th quarter. Jump Financial LLC now owns 44,902 shares of the company's stock worth $3,592,000 after acquiring an additional 39,902 shares in the last quarter. Barclays PLC grew its position in Futu by 87.2% during the 4th quarter. Barclays PLC now owns 189,188 shares of the company's stock worth $15,132,000 after acquiring an additional 88,125 shares during the last quarter. Townsquare Capital LLC acquired a new stake in Futu during the 4th quarter valued at $439,000. Finally, Raymond James Financial Inc. bought a new position in Futu in the 4th quarter valued at $786,000.
Futu Trading Up 5.4 %
Shares of NASDAQ:FUTU traded up $4.65 during midday trading on Wednesday, hitting $89.99. The company had a trading volume of 1,931,754 shares, compared to its average volume of 2,826,054. Futu Holdings Limited has a 12 month low of $51.80 and a 12 month high of $130.88. The firm has a fifty day simple moving average of $102.10 and a 200 day simple moving average of $95.20. The stock has a market cap of $12.40 billion, a price-to-earnings ratio of 22.06, a PEG ratio of 0.79 and a beta of 0.67.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on FUTU. UBS Group raised 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 price target on shares of Futu from $160.00 to $170.00 and gave the company an "overweight" rating in a report on Friday, March 14th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Futu presently has a consensus rating of "Moderate Buy" and an average target price of $121.20.
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About Futu
(
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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