Dorsey Wright & Associates Invests $1.50 Million in Futu Holdings Limited (NASDAQ:FUTU)

Dorsey Wright & Associates acquired a new stake in Futu Holdings Limited (NASDAQ:FUTU) in the 4th quarter, Holdings Channel.com reports. The fund acquired 18,750 shares of the company’s stock, valued at approximately $1,500,000.

A number of other large investors have also bought and sold shares of the business. Aspex Management HK Ltd boosted its holdings in shares of Futu by 2.4% in 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 period. Arrowstreet Capital Limited Partnership acquired a new position in Futu in the 4th quarter worth $116,315,000. Hhlr Advisors LTD. increased its holdings in Futu by 46.8% during the 3rd quarter. Hhlr Advisors LTD. now owns 1,051,089 shares of the company’s stock worth $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 raised its stake in shares of Futu by 502.2% in the 3rd 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 during the period. Finally, Geode Capital Management LLC raised its position in Futu by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 545,949 shares of the company’s stock valued at $51,475,000 after buying an additional 17,513 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FUTU. UBS Group upped their price target on Futu from $130.00 to $136.00 and gave the stock a “buy” rating in a research report on Monday, March 17th. JPMorgan Chase & Co. increased their target price on shares of Futu from $160.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $121.20.

Futu Trading Down 5.5 %

NASDAQ:FUTU opened at $103.62 on Friday. The stock has a market capitalization of $14.28 billion, a PE ratio of 25.40, a P/E/G ratio of 0.79 and a beta of 0.78. Futu Holdings Limited has a 1-year low of $51.80 and a 1-year high of $130.88. The firm has a fifty day simple moving average of $107.52 and a 200 day simple moving average of $94.66.

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.