Quantessence Capital LLC bought a new position in Futu Holdings Limited (NASDAQ:FUTU - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 7,299 shares of the company's stock, valued at approximately $584,000.
A number of other hedge funds have also added to or reduced their stakes in FUTU. Arrowstreet Capital Limited Partnership purchased a new stake in Futu during the fourth quarter valued at approximately $116,315,000. Norges Bank bought a new position in Futu in the 4th quarter worth $39,163,000. Candriam S.C.A. purchased a new position in Futu during the fourth quarter valued at $28,004,000. William Blair Investment Management LLC increased its position in Futu by 1,325.6% in the fourth quarter. William Blair Investment Management LLC now owns 285,120 shares of the company's stock worth $22,806,000 after buying an additional 265,120 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Futu by 236.6% in the fourth quarter. SG Americas Securities LLC now owns 374,193 shares of the company's stock worth $29,932,000 after buying an additional 263,040 shares during the period.
Futu Stock Up 0.7 %
FUTU stock opened at $80.22 on Tuesday. The company has a fifty day simple moving average of $102.75 and a two-hundred day simple moving average of $95.27. Futu Holdings Limited has a 52 week low of $51.80 and a 52 week high of $130.88. The firm has a market capitalization of $11.05 billion, a P/E ratio of 19.66, a price-to-earnings-growth ratio of 0.79 and a beta of 0.67.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Futu from $160.00 to $170.00 and gave the stock an "overweight" rating in a research note on Friday, March 14th. UBS Group boosted their target price on shares of Futu from $130.00 to $136.00 and gave the stock a "buy" rating in a report on Monday, March 17th. One 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 stock currently has an average rating of "Moderate Buy" and a consensus target price of $121.20.
Check Out Our Latest Stock Report on Futu
Futu Profile
(
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.
Further Reading
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