William Blair Investment Management LLC Increases Holdings in Futu Holdings Limited (NASDAQ:FUTU)

William Blair Investment Management LLC increased its stake in Futu Holdings Limited (NASDAQ:FUTU) by 1,325.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 285,120 shares of the company’s stock after buying an additional 265,120 shares during the quarter. William Blair Investment Management LLC’s holdings in Futu were worth $22,806,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the stock. Rhumbline Advisers grew its position in shares of Futu by 0.6% in the fourth quarter. Rhumbline Advisers now owns 23,023 shares of the company’s stock valued at $1,842,000 after purchasing an additional 144 shares in the last quarter. Vestcor Inc grew its position in shares of Futu by 19.2% in the fourth quarter. Vestcor Inc now owns 907 shares of the company’s stock valued at $73,000 after purchasing an additional 146 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Futu by 31.0% in 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. CIBC Asset Management Inc grew its position in shares of Futu by 4.3% in the third quarter. CIBC Asset Management Inc now owns 5,403 shares of the company’s stock valued at $517,000 after purchasing an additional 222 shares in the last quarter. Finally, Sompo Asset Management Co. Ltd. grew its position in Futu by 3.7% during the third quarter. Sompo Asset Management Co. Ltd. now owns 11,360 shares of the company’s stock worth $1,087,000 after buying an additional 410 shares in the last quarter.

Futu Trading Down 2.3 %

FUTU opened at $114.47 on Wednesday. The stock has a 50-day moving average price of $102.81 and a 200-day moving average price of $92.19. Futu Holdings Limited has a 12-month low of $51.80 and a 12-month high of $130.88. The stock has a market capitalization of $15.77 billion, a P/E ratio of 28.06, a PEG ratio of 0.79 and a beta of 0.78.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on FUTU shares. JPMorgan Chase & Co. boosted their target price on Futu from $160.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. UBS Group boosted their target price on Futu from $130.00 to $136.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Citigroup cut Futu from a “buy” rating to a “neutral” rating and boosted their target price for the stock 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 assigned a buy rating to the company. According to MarketBeat, Futu currently has a consensus rating of “Moderate Buy” and an average price target 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.