Futu Holdings Limited (NASDAQ:FUTU) Shares Acquired by Rakuten Securities Inc.

Rakuten Securities Inc. lifted its holdings in shares of Futu Holdings Limited (NASDAQ:FUTU) by 239.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 683 shares of the company’s stock after acquiring an additional 482 shares during the period. Rakuten Securities Inc.’s holdings in Futu were worth $55,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of FUTU. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position 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 worth $53,444,000 after acquiring an additional 465,961 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Futu during the third quarter worth approximately $39,943,000. Candriam S.C.A. purchased a new position in shares of Futu during the fourth quarter worth approximately $28,004,000. Hhlr Advisors LTD. grew its position 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 worth $100,537,000 after acquiring an additional 335,000 shares during the last quarter. Finally, SG Americas Securities LLC grew its position 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 worth $29,932,000 after acquiring an additional 263,040 shares during the last quarter.

Futu Price Performance

NASDAQ:FUTU opened at $111.73 on Thursday. The firm’s fifty day moving average price is $100.07 and its 200 day moving average price is $90.48. Futu Holdings Limited has a 1-year low of $51.80 and a 1-year high of $130.88. The firm has a market cap of $15.40 billion, a price-to-earnings ratio of 27.38, a price-to-earnings-growth ratio of 0.79 and a beta of 0.78.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FUTU. Morgan Stanley upgraded shares of Futu from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $70.00 to $115.00 in a research report on Monday, November 18th. Citigroup lowered shares of Futu from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $79.00 to $95.00 in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Futu presently has a consensus rating of “Moderate Buy” and an average target price of $91.40.

Futu 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.