Norges Bank purchased a new stake in shares of Futu Holdings Limited (NASDAQ:FUTU - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 489,600 shares of the company's stock, valued at approximately $39,163,000. Norges Bank owned approximately 0.36% of Futu as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Geode Capital Management LLC lifted its position in Futu by 3.3% during the third quarter. Geode Capital Management LLC now owns 545,949 shares of the company's stock valued at $51,475,000 after buying an additional 17,513 shares in the last quarter. SG Americas Securities LLC lifted its position in Futu by 236.6% during the fourth quarter. SG Americas Securities LLC now owns 374,193 shares of the company's stock valued at $29,932,000 after buying an additional 263,040 shares in the last quarter. Candriam S.C.A. acquired a new position in Futu during the fourth quarter valued at approximately $28,004,000. Sumitomo Mitsui Trust Group Inc. lifted its position in Futu by 183.6% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 333,401 shares of the company's stock valued at $26,669,000 after buying an additional 215,840 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its position in Futu by 1,325.6% during the fourth quarter. William Blair Investment Management LLC now owns 285,120 shares of the company's stock valued at $22,806,000 after buying an additional 265,120 shares in the last quarter.
Futu Stock Down 3.1 %
Shares of FUTU traded down $2.48 during mid-day trading on Thursday, reaching $77.71. 1,030,919 shares of the stock traded hands, compared to its average volume of 2,968,781. The firm has a market cap of $10.71 billion, a price-to-earnings ratio of 19.05, a P/E/G ratio of 0.79 and a beta of 0.67. The stock has a fifty day simple moving average of $106.22 and a 200 day simple moving average of $96.28. Futu Holdings Limited has a 12-month low of $51.80 and a 12-month high of $130.88.
Wall Street Analyst Weigh In
FUTU has been the topic of a number of recent research reports. UBS Group lifted their price target 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. JPMorgan Chase & Co. lifted their price objective on shares of Futu from $160.00 to $170.00 and gave the company an "overweight" rating in a research note on Friday, March 14th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $121.20.
Read Our Latest Stock Analysis on FUTU
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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