Futu Holdings Limited (NASDAQ:FUTU) Shares Purchased by Assetmark Inc.

Assetmark Inc. increased its stake in shares of Futu Holdings Limited (NASDAQ:FUTU) by 15,200.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 765 shares of the company’s stock after purchasing an additional 760 shares during the period. Assetmark Inc.’s holdings in Futu were worth $61,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of FUTU. Smartleaf Asset Management LLC raised its position in shares of Futu by 1,245.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 444 shares of the company’s stock worth $36,000 after purchasing an additional 411 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Futu by 31.0% during the 4th quarter. GAMMA Investing LLC now owns 778 shares of the company’s stock worth $62,000 after purchasing an additional 184 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Futu during the 4th quarter worth about $120,000. Janus Henderson Group PLC acquired a new stake in Futu in the 3rd quarter valued at about $201,000. Finally, M&T Bank Corp acquired a new stake in Futu in the 3rd quarter valued at about $203,000.

Futu Stock Performance

NASDAQ:FUTU opened at $118.47 on Friday. The stock has a market capitalization of $16.32 billion, a P/E ratio of 29.04, a PEG ratio of 0.79 and a beta of 0.78. The company has a 50 day moving average price of $101.39 and a 200 day moving average price of $91.20. Futu Holdings Limited has a fifty-two week low of $51.80 and a fifty-two week high of $130.88.

Wall Street Analysts Forecast Growth

FUTU has been the subject of a number of recent research reports. Morgan Stanley upgraded shares of Futu from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $70.00 to $115.00 in a report on Monday, November 18th. JPMorgan Chase & Co. increased their price objective on shares of Futu from $160.00 to $170.00 and gave the company an “overweight” rating in a report on Friday. Finally, Citigroup cut shares of Futu from a “buy” rating to a “neutral” rating and increased their price target for the company from $79.00 to $95.00 in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Futu presently has an average rating of “Moderate Buy” and an average price target 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.