FIL Ltd Buys New Holdings in Futu Holdings Limited (NASDAQ:FUTU)

FIL Ltd purchased a new position in Futu Holdings Limited (NASDAQ:FUTU) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 100,595 shares of the company’s stock, valued at approximately $8,047,000. FIL Ltd owned 0.07% of Futu at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Smartleaf Asset Management LLC raised its holdings in shares of Futu by 1,245.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 444 shares of the company’s stock worth $36,000 after acquiring an additional 411 shares in the last quarter. Rakuten Securities Inc. increased its position in Futu by 239.8% in the fourth quarter. Rakuten Securities Inc. now owns 683 shares of the company’s stock worth $55,000 after purchasing an additional 482 shares during the last quarter. Assetmark Inc. raised its stake in Futu by 15,200.0% during the fourth quarter. Assetmark Inc. now owns 765 shares of the company’s stock valued at $61,000 after purchasing an additional 760 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Futu by 31.0% in the 4th quarter. GAMMA Investing LLC now owns 778 shares of the company’s stock worth $62,000 after buying an additional 184 shares in the last quarter. Finally, Vestcor Inc increased its holdings in shares of Futu by 19.2% in the 4th quarter. Vestcor Inc now owns 907 shares of the company’s stock worth $73,000 after buying an additional 146 shares during the last quarter.

Futu Price Performance

Shares of FUTU opened at $80.39 on Friday. The company’s fifty day moving average price is $105.49 and its 200-day moving average price is $96.31. Futu Holdings Limited has a 1-year low of $51.80 and a 1-year high of $130.88. The firm has a market capitalization of $11.08 billion, a PE ratio of 19.70, a price-to-earnings-growth ratio of 0.79 and a beta of 0.67.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on FUTU shares. UBS Group raised their price objective on Futu from $130.00 to $136.00 and gave the company a “buy” rating in a research note on Monday, March 17th. JPMorgan Chase & Co. lifted their price objective on shares of Futu from $160.00 to $170.00 and gave the stock 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 assigned a buy rating to the stock. According to data from MarketBeat, Futu presently has an average 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.