Pictet Asset Management Holding SA Cuts Holdings in Futu Holdings Limited (NASDAQ:FUTU)

Pictet Asset Management Holding SA trimmed its position in shares of Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 16.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 120,696 shares of the company's stock after selling 24,225 shares during the period. Pictet Asset Management Holding SA owned 0.09% of Futu worth $9,654,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Futu by 1.2% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,326 shares of the company's stock worth $746,000 after acquiring an additional 113 shares during the last quarter. Rhumbline Advisers raised its position in shares of Futu by 0.6% in the fourth quarter. Rhumbline Advisers now owns 23,023 shares of the company's stock valued at $1,842,000 after purchasing an additional 144 shares during the period. Vestcor Inc lifted its stake in shares of Futu by 19.2% during the 4th quarter. Vestcor Inc now owns 907 shares of the company's stock valued at $73,000 after buying an additional 146 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Futu by 31.0% during the 4th quarter. GAMMA Investing LLC now owns 778 shares of the company's stock valued at $62,000 after buying an additional 184 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in Futu by 1,245.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 444 shares of the company's stock worth $36,000 after buying an additional 411 shares during the period.

Remove Ads

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on FUTU shares. JPMorgan Chase & Co. increased their target price on Futu from $160.00 to $170.00 and gave the stock an "overweight" rating in a research report on Friday, March 14th. UBS Group increased their price objective on Futu from $130.00 to $136.00 and gave the stock a "buy" rating in a 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. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $121.20.

Futu Trading Down 2.4 %

Shares of Futu stock traded down $1.99 during trading on Monday, hitting $81.52. The stock had a trading volume of 3,387,483 shares, compared to its average volume of 2,690,553. The firm has a market cap of $11.23 billion, a price-to-earnings ratio of 20.15, a P/E/G ratio of 0.79 and a beta of 0.67. Futu Holdings Limited has a 12 month low of $51.80 and a 12 month high of $130.88. The business's 50-day moving average is $108.17 and its 200 day moving average is $96.30.

Futu Company Profile

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.