Achmea Investment Management B.V. bought a new position in Futu Holdings Limited (NASDAQ:FUTU – Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 11,371 shares of the company’s stock, valued at approximately $909,000.
Other institutional investors have also recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Futu by 14.8% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 117,561 shares of the company’s stock worth $11,245,000 after acquiring an additional 15,127 shares in the last quarter. Y Intercept Hong Kong Ltd grew its position in Futu by 136.9% during the third quarter. Y Intercept Hong Kong Ltd now owns 42,149 shares of the company’s stock valued at $4,032,000 after buying an additional 24,355 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in Futu by 127.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 52,530 shares of the company’s stock valued at $5,024,000 after buying an additional 29,401 shares during the period. Natixis Advisors LLC bought a new position in Futu during the third quarter valued at about $1,100,000. Finally, Monolith Management Ltd bought a new position in Futu during the third quarter valued at about $6,217,000.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on FUTU shares. Morgan Stanley upgraded shares of Futu from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $70.00 to $115.00 in a research report on Monday, November 18th. JPMorgan Chase & Co. increased their price target on shares of Futu from $160.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Citigroup lowered shares of Futu from a “buy” rating to a “neutral” rating and increased their price target for the company from $79.00 to $95.00 in a research report on Tuesday, November 19th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $107.00.
Futu Stock Up 10.2 %
Shares of NASDAQ:FUTU opened at $118.47 on Friday. Futu Holdings Limited has a twelve month low of $51.80 and a twelve month high of $130.88. The firm has a market capitalization of $16.32 billion, a PE ratio of 29.04, a P/E/G ratio of 0.79 and a beta of 0.78. The company has a 50-day moving average price of $101.39 and a two-hundred day moving average price of $91.20.
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.
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