Townsquare Capital LLC Invests $439,000 in Futu Holdings Limited (NASDAQ:FUTU)

Townsquare Capital LLC 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 5,490 shares of the company's stock, valued at approximately $439,000.

Several other institutional investors also recently bought and sold shares of the business. Smartleaf Asset Management LLC boosted its stake in shares of Futu by 1,245.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 444 shares of the company's stock valued at $36,000 after purchasing an additional 411 shares during the period. Rakuten Securities Inc. grew its stake in shares of Futu by 239.8% during the fourth quarter. Rakuten Securities Inc. now owns 683 shares of the company's stock valued at $55,000 after acquiring an additional 482 shares in the last quarter. Assetmark Inc. increased its position in shares of Futu by 15,200.0% during the fourth quarter. Assetmark Inc. now owns 765 shares of the company's stock worth $61,000 after acquiring an additional 760 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Futu by 31.0% in the fourth quarter. GAMMA Investing LLC now owns 778 shares of the company's stock worth $62,000 after acquiring an additional 184 shares in the last quarter. Finally, Vestcor Inc boosted its holdings in Futu by 19.2% in 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.

Futu Price Performance

FUTU traded up $5.63 on Thursday, reaching $93.91. 1,819,414 shares of the company traded hands, compared to its average volume of 3,018,115. Futu Holdings Limited has a 52-week low of $51.80 and a 52-week high of $130.88. The company has a market cap of $12.94 billion, a price-to-earnings ratio of 23.02, a PEG ratio of 0.79 and a beta of 0.67. The stock's 50 day moving average price is $101.43 and its 200-day moving average price is $95.16.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. UBS Group increased their price target on shares of Futu from $130.00 to $136.00 and gave the stock a "buy" rating in a research report on Monday, March 17th. JPMorgan Chase & Co. lifted 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. One 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, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $121.20.

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.