Russell Investments Group Ltd. boosted its stake in shares of Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 251.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,697 shares of the company's stock after purchasing an additional 19,826 shares during the period. Russell Investments Group Ltd.'s holdings in Futu were worth $2,216,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in FUTU. Arrowstreet Capital Limited Partnership bought a new stake in shares of Futu in the fourth quarter worth $116,315,000. Geode Capital Management LLC grew its stake in shares of Futu by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 567,635 shares of the company's stock valued at $44,890,000 after purchasing an additional 21,686 shares during the period. Norges Bank purchased a new stake in shares of Futu during the 4th quarter valued at about $39,163,000. SG Americas Securities LLC lifted its stake in shares of Futu by 236.6% in the 4th quarter. SG Americas Securities LLC now owns 374,193 shares of the company's stock worth $29,932,000 after purchasing an additional 263,040 shares during the period. Finally, Candriam S.C.A. purchased a new position in shares of Futu in the fourth quarter worth approximately $28,004,000.
Analyst Ratings Changes
A number of analysts have commented on FUTU shares. UBS Group upped their target price on shares of Futu from $130.00 to $136.00 and gave the company a "buy" rating in a report on Monday, March 17th. JPMorgan Chase & Co. lifted their target price on Futu from $160.00 to $170.00 and gave the company an "overweight" rating in a research report 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's stock. According to MarketBeat.com, Futu currently has an average rating of "Moderate Buy" and a consensus target price of $121.20.
Read Our Latest Research Report on FUTU
Futu Stock Performance
Shares of NASDAQ FUTU traded up $2.59 during midday trading on Thursday, reaching $90.87. The stock had a trading volume of 558,764 shares, compared to its average volume of 3,002,641. Futu Holdings Limited has a 12-month low of $51.80 and a 12-month high of $130.88. The stock has a 50-day moving average of $101.43 and a 200-day moving average of $95.16. The company has a market capitalization of $12.52 billion, a price-to-earnings ratio of 22.27, a price-to-earnings-growth ratio of 0.79 and a beta of 0.67.
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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