1,454,125 Shares in Futu Holdings Limited (NASDAQ:FUTU) Acquired by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership bought a new stake in shares of Futu Holdings Limited (NASDAQ:FUTU) during the 4th quarter, HoldingsChannel.com reports. The firm bought 1,454,125 shares of the company’s stock, valued at approximately $116,315,000.

A number of other hedge funds also recently modified their holdings of the business. Smartleaf Asset Management LLC raised its position in Futu by 1,245.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 444 shares of the company’s stock valued at $36,000 after buying an additional 411 shares during the period. Rakuten Securities Inc. increased its holdings in shares of Futu by 239.8% in the 4th quarter. Rakuten Securities Inc. now owns 683 shares of the company’s stock valued at $55,000 after purchasing an additional 482 shares during the period. Assetmark Inc. boosted its holdings 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 purchasing an additional 760 shares during the period. GAMMA Investing LLC grew its position in Futu by 31.0% during the fourth quarter. GAMMA Investing LLC now owns 778 shares of the company’s stock valued at $62,000 after purchasing an additional 184 shares in the last quarter. Finally, Vestcor Inc increased its stake in Futu by 19.2% in the 4th quarter. Vestcor Inc now owns 907 shares of the company’s stock valued at $73,000 after buying an additional 146 shares during the period.

Futu Stock Down 5.5 %

FUTU stock opened at $103.62 on Monday. The firm has a 50 day moving average of $107.52 and a two-hundred day moving average of $94.91. Futu Holdings Limited has a 12 month low of $51.80 and a 12 month high of $130.88. The company has a market capitalization of $14.28 billion, a price-to-earnings ratio of 25.40, a P/E/G ratio of 0.79 and a beta of 0.78.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. UBS Group lifted their target price on shares of 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. lifted their price objective on Futu from $160.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $121.20.

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.