Futu Holdings Limited (NASDAQ:FUTU) Shares Purchased by Smartleaf Asset Management LLC

Smartleaf Asset Management LLC increased its holdings in shares of Futu Holdings Limited (NASDAQ:FUTU) by 1,245.5% during the fourth quarter, HoldingsChannel reports. The fund owned 444 shares of the company’s stock after buying an additional 411 shares during the period. Smartleaf Asset Management LLC’s holdings in Futu were worth $36,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Aspex Management HK Ltd grew its stake in shares of Futu by 2.4% during the 3rd quarter. Aspex Management HK Ltd now owns 4,553,023 shares of the company’s stock worth $435,497,000 after purchasing an additional 108,219 shares during the period. Hhlr Advisors LTD. grew its position in 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 buying an additional 335,000 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in 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 buying an additional 465,961 shares during the period. Geode Capital Management LLC grew its position in Futu by 3.3% during the third quarter. Geode Capital Management LLC now owns 545,949 shares of the company’s stock worth $51,475,000 after buying an additional 17,513 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Futu in the 3rd quarter worth approximately $39,943,000.

Analyst Upgrades and Downgrades

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

Futu Stock Performance

Shares of NASDAQ:FUTU opened at $110.28 on Wednesday. The business’s fifty day moving average price is $99.43 and its two-hundred day moving average price is $90.33. The stock has a market cap of $15.20 billion, a PE ratio of 27.03, a price-to-earnings-growth ratio of 0.79 and a beta of 0.78. Futu Holdings Limited has a one year low of $51.80 and a one year high of $130.88.

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.