Charles Schwab Investment Management Inc. Raises Holdings in Futu Holdings Limited (NASDAQ:FUTU)

Charles Schwab Investment Management Inc. increased its holdings in Futu Holdings Limited (NASDAQ:FUTU) by 10.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 62,374 shares of the company’s stock after buying an additional 5,705 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Futu were worth $4,989,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of FUTU. SBI Securities Co. Ltd. purchased a new stake in shares of Futu during the 4th quarter worth $120,000. Bailard Inc. grew its position in shares of Futu by 66.7% in the 4th quarter. Bailard Inc. now owns 25,000 shares of the company’s stock worth $2,000,000 after buying an additional 10,000 shares during the last quarter. Smartleaf Asset Management LLC raised its stake 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 acquiring an additional 411 shares in the last quarter. Capital Wealth Planning LLC purchased a new stake in Futu during the fourth quarter valued at approximately $1,070,000. Finally, US Bancorp DE lifted its position in Futu by 138.7% during the fourth quarter. US Bancorp DE now owns 16,067 shares of the company’s stock valued at $1,285,000 after acquiring an additional 9,336 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on FUTU shares. JPMorgan Chase & Co. lifted their price target on shares of Futu from $160.00 to $170.00 and gave the stock an “overweight” rating in a 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 note on Monday, March 17th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Futu presently has an average rating of “Moderate Buy” and a consensus target price of $121.20.

Futu Trading Up 0.2 %

NASDAQ FUTU opened at $107.99 on Wednesday. The company has a fifty day simple moving average of $106.07 and a two-hundred day simple moving average of $93.89. The stock has a market cap of $14.88 billion, a P/E ratio of 26.47, a P/E/G ratio of 0.79 and a beta of 0.78. Futu Holdings Limited has a 12-month low of $51.80 and a 12-month high of $130.88.

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.