Nomura Asset Management Co. Ltd. Purchases 25,557 Shares of Futu Holdings Limited (NASDAQ:FUTU)

Nomura Asset Management Co. Ltd. increased its position in shares of Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 189.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 39,047 shares of the company's stock after buying an additional 25,557 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in Futu were worth $3,123,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Y Intercept Hong Kong Ltd boosted its stake in shares of Futu by 136.9% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 42,149 shares of the company's stock worth $4,032,000 after buying an additional 24,355 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in Futu by 183.6% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 333,401 shares of the company's stock worth $26,669,000 after acquiring an additional 215,840 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Futu by 19.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 56,669 shares of the company's stock valued at $5,420,000 after purchasing an additional 9,221 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new position in Futu in the fourth quarter valued at approximately $1,200,000. Finally, New York State Common Retirement Fund acquired a new position in shares of Futu during the 4th quarter worth approximately $2,436,000.

Analysts Set New Price Targets

Several research firms have recently commented on FUTU. JPMorgan Chase & Co. increased their price objective on Futu from $160.00 to $170.00 and gave the company an "overweight" rating in a report on Friday, March 14th. UBS Group lifted their price objective on shares of Futu from $130.00 to $136.00 and gave the company a "buy" rating in a research report on Monday, March 17th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $121.20.

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Futu Stock Performance

FUTU traded down $13.98 during trading hours on Friday, reaching $83.51. The company's stock had a trading volume of 8,685,634 shares, compared to its average volume of 2,686,535. The company's 50-day moving average is $108.17 and its 200-day moving average is $96.30. Futu Holdings Limited has a 52 week low of $51.80 and a 52 week high of $130.88. The firm has a market cap of $11.51 billion, a PE ratio of 20.47, a price-to-earnings-growth ratio of 0.79 and a beta of 0.67.

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.