Prudential PLC Sells 138,225 Shares of Futu Holdings Limited (NASDAQ:FUTU)

Prudential PLC lessened its stake in shares of Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 84.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,409 shares of the company's stock after selling 138,225 shares during the period. Prudential PLC's holdings in Futu were worth $2,112,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its stake 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 acquiring an additional 411 shares during the last quarter. Rakuten Securities Inc. increased its position in Futu by 239.8% in the fourth quarter. Rakuten Securities Inc. now owns 683 shares of the company's stock worth $55,000 after purchasing an additional 482 shares during the last quarter. Assetmark Inc. raised its stake in Futu by 15,200.0% during the fourth quarter. Assetmark Inc. now owns 765 shares of the company's stock valued at $61,000 after purchasing an additional 760 shares in the last quarter. GAMMA Investing LLC lifted its position in Futu by 31.0% during 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 last quarter. Finally, Vestcor Inc lifted its position in Futu by 19.2% during the fourth quarter. Vestcor Inc now owns 907 shares of the company's stock valued at $73,000 after purchasing an additional 146 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on FUTU shares. JPMorgan Chase & Co. boosted their target price 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 upped their price objective on 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 assigned a buy rating to the stock. According to data from MarketBeat, Futu has a consensus rating of "Moderate Buy" and an average price target of $121.20.

Futu Trading Up 2.7 %

Shares of FUTU stock traded up $2.03 during trading hours on Friday, reaching $76.84. 2,423,054 shares of the stock were exchanged, compared to its average volume of 2,754,507. The firm has a market capitalization of $10.59 billion, a price-to-earnings ratio of 18.77, a price-to-earnings-growth 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 company's 50-day moving average price is $105.86 and its 200-day moving average price is $96.28.

Futu 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.