Futu Holdings Limited (NASDAQ:FUTU) Shares Acquired by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. increased its position in Futu Holdings Limited (NASDAQ:FUTU) by 139.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 10,300 shares of the company’s stock after acquiring an additional 6,000 shares during the period. Daiwa Securities Group Inc.’s holdings in Futu were worth $824,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Smartleaf Asset Management LLC lifted its holdings in shares of 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 purchasing an additional 411 shares during the last quarter. Assetmark Inc. lifted 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 valued at $61,000 after purchasing an additional 760 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of 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 during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Futu during the fourth quarter valued at $120,000. Finally, Janus Henderson Group PLC purchased a new stake in shares of Futu during the third quarter valued at $201,000.

Futu Price Performance

Shares of FUTU stock opened at $118.47 on Friday. Futu Holdings Limited has a fifty-two week low of $51.80 and a fifty-two week high of $130.88. The stock’s 50-day moving average is $101.39 and its two-hundred day moving average is $91.20. The firm has a market cap of $16.32 billion, a P/E ratio of 29.04, a PEG ratio of 0.79 and a beta of 0.78.

Wall Street Analysts Forecast Growth

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

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.