Bank of New York Mellon Corp Acquires 3,968 Shares of Futu Holdings Limited (NASDAQ:FUTU)

Bank of New York Mellon Corp increased its holdings in shares of Futu Holdings Limited (NASDAQ:FUTU) by 4.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,267 shares of the company’s stock after acquiring an additional 3,968 shares during the period. Bank of New York Mellon Corp’s holdings in Futu were worth $7,220,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Rhumbline Advisers grew its position in Futu by 0.6% during the 4th quarter. Rhumbline Advisers now owns 23,023 shares of the company’s stock worth $1,842,000 after acquiring an additional 144 shares during the last quarter. GAMMA Investing LLC grew its position in Futu by 31.0% during the 4th quarter. GAMMA Investing LLC now owns 778 shares of the company’s stock worth $62,000 after acquiring an additional 184 shares during the last quarter. CIBC Asset Management Inc grew its position in Futu by 4.3% during the 3rd quarter. CIBC Asset Management Inc now owns 5,403 shares of the company’s stock worth $517,000 after acquiring an additional 222 shares during the last quarter. Sompo Asset Management Co. Ltd. grew its position in Futu by 3.7% during the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 11,360 shares of the company’s stock worth $1,087,000 after acquiring an additional 410 shares during the last quarter. Finally, BOCHK Asset Management Ltd lifted its holdings in Futu by 8.1% during the 4th quarter. BOCHK Asset Management Ltd now owns 8,000 shares of the company’s stock worth $640,000 after buying an additional 600 shares in the last quarter.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Citigroup downgraded Futu from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $79.00 to $95.00 in a report on Tuesday, November 19th. Morgan Stanley raised Futu from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $70.00 to $115.00 in a report on Monday, November 18th. Finally, JPMorgan Chase & Co. upped their price objective on Futu from $160.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $107.00.

Futu Stock Up 10.2 %

FUTU stock opened at $118.47 on Friday. The business’s fifty day moving average is $101.39 and its 200-day moving average is $91.20. The company has a market cap of $16.32 billion, a P/E ratio of 29.04, a price-to-earnings-growth ratio of 0.79 and a beta of 0.78. Futu Holdings Limited has a twelve month low of $51.80 and a twelve month high of $130.88.

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.