Platinum Investment Management Ltd. Purchases Shares of 1,081 Futu Holdings Limited (NASDAQ:FUTU)

Platinum Investment Management Ltd. purchased a new stake in Futu Holdings Limited (NASDAQ:FUTU) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,081 shares of the company’s stock, valued at approximately $86,000.

Several other institutional investors and hedge funds have also recently modified their holdings of FUTU. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings 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 acquiring an additional 465,961 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Futu during the 3rd quarter valued at about $39,943,000. Candriam S.C.A. purchased a new position in shares of Futu during the 4th quarter valued at about $28,004,000. Hhlr Advisors LTD. raised its holdings in shares of Futu by 46.8% during the 3rd quarter. Hhlr Advisors LTD. now owns 1,051,089 shares of the company’s stock valued at $100,537,000 after buying an additional 335,000 shares in the last quarter. Finally, William Blair Investment Management LLC raised its holdings in shares of Futu by 1,325.6% during the 4th 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 in the last quarter.

Futu Stock Performance

Shares of FUTU stock opened at $114.47 on Wednesday. The firm has a market cap of $15.77 billion, a P/E ratio of 28.06, a P/E/G ratio of 0.79 and a beta of 0.78. Futu Holdings Limited has a fifty-two week low of $51.80 and a fifty-two week high of $130.88. The business’s 50 day moving average price is $102.81 and its 200-day moving average price is $92.19.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on FUTU shares. JPMorgan Chase & Co. raised their price objective on Futu from $160.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, March 14th. Citigroup cut Futu from a “buy” rating to a “neutral” rating and raised their price objective for the company from $79.00 to $95.00 in a report on Tuesday, November 19th. Finally, UBS Group raised their price objective on Futu from $130.00 to $136.00 and gave the company a “buy” rating in a report on Monday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock 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.