Futu Holdings Limited (NASDAQ:FUTU) Shares Sold by MY.Alpha Management HK Advisors Ltd

MY.Alpha Management HK Advisors Ltd lessened its stake in shares of Futu Holdings Limited (NASDAQ:FUTU) by 34.5% during the fourth quarter, HoldingsChannel reports. The firm owned 245,654 shares of the company’s stock after selling 129,244 shares during the period. Futu accounts for 8.7% of MY.Alpha Management HK Advisors Ltd’s portfolio, making the stock its 4th largest position. MY.Alpha Management HK Advisors Ltd’s holdings in Futu were worth $19,650,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Smartleaf Asset Management LLC increased its stake in 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 buying an additional 411 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Futu by 77.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 452 shares of the company’s stock valued at $36,000 after acquiring an additional 197 shares in the last quarter. Rakuten Securities Inc. increased its position in shares of Futu by 239.8% during the fourth quarter. Rakuten Securities Inc. now owns 683 shares of the company’s stock worth $55,000 after acquiring an additional 482 shares during the last quarter. Assetmark Inc. increased its position in shares of Futu by 15,200.0% during the fourth quarter. Assetmark Inc. now owns 765 shares of the company’s stock worth $61,000 after acquiring an additional 760 shares during the last quarter. Finally, Vestcor Inc lifted its stake in shares of Futu by 19.2% in the fourth quarter. Vestcor Inc now owns 907 shares of the company’s stock worth $73,000 after acquiring an additional 146 shares in the last quarter.

Analyst Upgrades and Downgrades

FUTU has been the subject of a number of recent analyst reports. 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. increased their target price on Futu from $160.00 to $170.00 and gave the company 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 given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $121.20.

Futu Stock Performance

Shares of FUTU stock opened at $112.34 on Wednesday. The stock has a market capitalization of $15.63 billion, a price-to-earnings ratio of 27.53, a PEG ratio of 0.79 and a beta of 0.67. Futu Holdings Limited has a one year low of $51.80 and a one year high of $130.88. The company’s 50-day simple moving average is $96.92 and its 200-day simple moving average is $94.97.

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.