Nikko Asset Management Americas Inc. Buys Shares of 215,958 Futu Holdings Limited (NASDAQ:FUTU)

Nikko Asset Management Americas Inc. acquired a new stake in Futu Holdings Limited (NASDAQ:FUTU - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 215,958 shares of the company's stock, valued at approximately $17,274,000. Nikko Asset Management Americas Inc. owned 0.16% of Futu at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Smartleaf Asset Management LLC raised its holdings in shares of Futu by 1,245.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 444 shares of the company's stock valued at $36,000 after buying an additional 411 shares during the period. Rakuten Securities Inc. raised its stake in shares of Futu by 239.8% during the fourth quarter. Rakuten Securities Inc. now owns 683 shares of the company's stock valued at $55,000 after purchasing an additional 482 shares during the period. Assetmark Inc. lifted its position in shares of Futu by 15,200.0% during the fourth quarter. Assetmark Inc. now owns 765 shares of the company's stock worth $61,000 after purchasing an additional 760 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Futu by 31.0% in the fourth quarter. GAMMA Investing LLC now owns 778 shares of the company's stock valued at $62,000 after purchasing an additional 184 shares during the period. Finally, Vestcor Inc grew its holdings in Futu by 19.2% during 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 $2.77 during trading on Friday, reaching $106.36. The company had a trading volume of 1,994,249 shares, compared to its average volume of 2,537,105. The company has a market cap of $14.66 billion, a price-to-earnings ratio of 26.07, a price-to-earnings-growth ratio of 0.79 and a beta of 0.78. Futu Holdings Limited has a fifty-two week low of $51.80 and a fifty-two week high of $130.88. The firm's fifty day moving average is $104.19 and its 200-day moving average is $92.46.

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Wall Street Analysts Forecast Growth

A number of brokerages have commented on FUTU. JPMorgan Chase & Co. boosted 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. UBS Group boosted their price target on Futu from $130.00 to $136.00 and gave the stock a "buy" rating in a research note on Monday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Futu 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.