Futu Holdings Limited (NASDAQ:FUTU) Shares Sold by Legal & General Group Plc

Legal & General Group Plc decreased its stake in shares of Futu Holdings Limited (NASDAQ:FUTU) by 25.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 350,137 shares of the company’s stock after selling 118,699 shares during the period. Legal & General Group Plc’s holdings in Futu were worth $28,007,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in FUTU. Arrowstreet Capital Limited Partnership purchased a new stake in Futu during the 4th quarter worth about $116,315,000. Norges Bank purchased a new stake in shares of Futu during the fourth quarter worth about $39,163,000. Candriam S.C.A. purchased a new stake in shares of Futu during the fourth quarter worth about $28,004,000. William Blair Investment Management LLC lifted its stake in shares of Futu by 1,325.6% during the fourth quarter. William Blair Investment Management LLC now owns 285,120 shares of the company’s stock valued at $22,806,000 after buying an additional 265,120 shares during the period. Finally, SG Americas Securities LLC lifted its stake in shares of Futu by 236.6% during the fourth quarter. SG Americas Securities LLC now owns 374,193 shares of the company’s stock valued at $29,932,000 after buying an additional 263,040 shares during the period.

Futu Stock Up 7.5 %

NASDAQ:FUTU opened at $80.39 on Monday. The company has a market cap of $11.08 billion, a P/E ratio of 19.70, a P/E/G ratio of 0.79 and a beta of 0.67. The firm’s 50 day moving average is $105.49 and its two-hundred day moving average is $96.42. Futu Holdings Limited has a fifty-two week low of $51.80 and a fifty-two week high of $130.88.

Wall Street Analysts Forecast Growth

Several research firms have commented on FUTU. JPMorgan Chase & Co. lifted their target price 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. UBS Group lifted their price objective on Futu from $130.00 to $136.00 and gave the company a “buy” rating in a research report on Monday, March 17th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently 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.