Vestcor Inc Buys 146 Shares of Futu Holdings Limited (NASDAQ:FUTU)

Vestcor Inc grew its stake in Futu Holdings Limited (NASDAQ:FUTU) by 19.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 907 shares of the company’s stock after purchasing an additional 146 shares during the quarter. Vestcor Inc’s holdings in Futu were worth $73,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Aspex Management HK Ltd grew its stake in Futu by 2.4% in the 3rd quarter. Aspex Management HK Ltd now owns 4,553,023 shares of the company’s stock worth $435,497,000 after acquiring an additional 108,219 shares in the last quarter. Hhlr Advisors LTD. boosted its stake in shares of Futu by 46.8% during the third quarter. Hhlr Advisors LTD. now owns 1,051,089 shares of the company’s stock valued at $100,537,000 after purchasing an additional 335,000 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of 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 valued at $53,444,000 after purchasing an additional 465,961 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Futu by 3.3% during the third quarter. Geode Capital Management LLC now owns 545,949 shares of the company’s stock valued at $51,475,000 after purchasing an additional 17,513 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Futu during the third quarter valued at approximately $39,943,000.

Analysts Set New Price Targets

A number of research firms have recently issued reports on FUTU. UBS Group increased their price objective on shares of Futu from $130.00 to $136.00 and gave the company a “buy” rating in a research note on Monday. JPMorgan Chase & Co. increased their price objective on shares of Futu from $160.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Finally, Citigroup downgraded shares of Futu from a “buy” rating to a “neutral” rating and raised their target price for the company from $79.00 to $95.00 in a research note on Tuesday, November 19th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $121.20.

Futu Stock Down 2.3 %

Shares of FUTU opened at $114.47 on Wednesday. The company has a market cap of $15.77 billion, a price-to-earnings ratio of 28.06, a price-to-earnings-growth ratio of 0.79 and a beta of 0.78. Futu Holdings Limited has a twelve month low of $51.80 and a twelve month high of $130.88. The company has a 50 day moving average of $102.81 and a two-hundred day moving average of $92.19.

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.