William Blair Investment Management LLC Increases Stock Holdings in Futu Holdings Limited (NASDAQ:FUTU)

William Blair Investment Management LLC lifted its stake in shares of Futu Holdings Limited (NASDAQ:FUTU) by 1,325.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 285,120 shares of the company’s stock after buying an additional 265,120 shares during the period. William Blair Investment Management LLC owned about 0.21% of Futu worth $22,806,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Aspex Management HK Ltd boosted its position in shares of Futu by 2.4% during the third quarter. Aspex Management HK Ltd now owns 4,553,023 shares of the company’s stock valued at $435,497,000 after buying an additional 108,219 shares during the last quarter. Hhlr Advisors LTD. lifted its holdings in Futu by 46.8% during the third quarter. Hhlr Advisors LTD. now owns 1,051,089 shares of the company’s stock worth $100,537,000 after acquiring an additional 335,000 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Futu by 502.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 558,746 shares of the company’s stock worth $53,444,000 after acquiring an additional 465,961 shares during the period. Geode Capital Management LLC lifted its holdings in Futu by 3.3% during the third quarter. Geode Capital Management LLC now owns 545,949 shares of the company’s stock worth $51,475,000 after acquiring an additional 17,513 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Futu during the third quarter worth $39,943,000.

Wall Street Analyst Weigh In

FUTU has been the topic of a number of recent analyst reports. Citigroup lowered Futu from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $79.00 to $95.00 in a report on Tuesday, November 19th. UBS Group lifted their price target on Futu from $130.00 to $136.00 and gave the stock a “buy” rating in a report on Monday. Finally, JPMorgan Chase & Co. boosted their target price on Futu from $160.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $121.20.

Futu Price Performance

Shares of FUTU opened at $114.47 on Wednesday. The firm has a market cap of $15.77 billion, a PE ratio of 28.06, a PEG ratio of 0.79 and a beta of 0.78. The stock’s fifty day moving average price is $102.81 and its two-hundred day moving average price is $92.19. Futu Holdings Limited has a 1 year low of $51.80 and a 1 year high of $130.88.

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.