Wellington Management Group LLP Acquires New Position in Futu Holdings Limited (NASDAQ:FUTU)

Wellington Management Group LLP bought a new position in shares of Futu Holdings Limited (NASDAQ:FUTU - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,125 shares of the company's stock, valued at approximately $250,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership purchased a new stake in Futu in the 4th quarter worth $116,315,000. Norges Bank purchased a new stake in shares of Futu in the fourth quarter worth about $39,163,000. Candriam S.C.A. bought a new position in Futu during the fourth quarter valued at approximately $28,004,000. William Blair Investment Management LLC grew its holdings in Futu by 1,325.6% during the 4th quarter. William Blair Investment Management LLC now owns 285,120 shares of the company's stock valued at $22,806,000 after buying an additional 265,120 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in 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 acquiring an additional 263,040 shares during the last quarter.

Futu Price Performance

Shares of Futu stock traded down $0.85 during trading on Friday, hitting $79.65. The stock had a trading volume of 1,843,527 shares, compared to its average volume of 2,827,835. Futu Holdings Limited has a 12 month low of $51.80 and a 12 month high of $130.88. The firm's fifty day simple moving average is $103.46 and its 200-day simple moving average is $95.80. The stock has a market cap of $10.98 billion, a PE ratio of 19.52, a PEG ratio of 0.79 and a beta of 0.67.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of 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 target on shares of Futu from $130.00 to $136.00 and gave the company a "buy" rating in a report on Monday, March 17th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Futu has a consensus rating of "Moderate Buy" and an average target price of $121.20.

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.