William Blair Investment Management LLC Boosts Position in Futu Holdings Limited (NASDAQ:FUTU)

William Blair Investment Management LLC increased its position in Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 1,325.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 285,120 shares of the company's stock after acquiring an additional 265,120 shares during the quarter. William Blair Investment Management LLC owned about 0.21% of Futu worth $22,806,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. CIBC Asset Management Inc boosted its position in shares of Futu by 4.3% during the 3rd quarter. CIBC Asset Management Inc now owns 5,403 shares of the company's stock valued at $517,000 after acquiring an additional 222 shares during the last quarter. Natixis Advisors LLC bought a new stake in shares of Futu during the 3rd quarter valued at about $1,100,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Futu by 127.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 52,530 shares of the company's stock valued at $5,024,000 after acquiring an additional 29,401 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Futu by 19.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 56,669 shares of the company's stock valued at $5,420,000 after acquiring an additional 9,221 shares during the last quarter. Finally, Citigroup Inc. boosted its position in shares of Futu by 31.6% during the 3rd quarter. Citigroup Inc. now owns 215,419 shares of the company's stock valued at $20,605,000 after acquiring an additional 51,765 shares during the last quarter.

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Futu Trading Down 2.5 %

FUTU stock traded down $2.77 during midday trading on Friday, hitting $106.36. The company had a trading volume of 1,994,249 shares, compared to its average volume of 2,542,321. Futu Holdings Limited has a 52 week low of $51.80 and a 52 week high of $130.88. The stock's 50 day moving average price is $104.81 and its 200 day moving average price is $92.76. The stock has a market cap of $14.66 billion, a price-to-earnings ratio of 26.07, a PEG ratio of 0.79 and a beta of 0.78.

Analyst Ratings Changes

A number of analysts recently weighed in on FUTU shares. JPMorgan Chase & Co. boosted 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. UBS Group boosted their target price on Futu from $130.00 to $136.00 and gave the stock a "buy" rating in a research report on Monday, March 17th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $121.20.

About Futu

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.