Corebridge Financial Inc. Decreases Stock Holdings in Futu Holdings Limited (NASDAQ:FUTU)

Corebridge Financial Inc. reduced its position in Futu Holdings Limited (NASDAQ:FUTU) by 2.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,288 shares of the company’s stock after selling 299 shares during the period. Corebridge Financial Inc.’s holdings in Futu were worth $823,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its position in Futu by 1,245.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 444 shares of the company’s stock valued at $36,000 after buying an additional 411 shares in the last quarter. Rakuten Securities Inc. increased its holdings in shares of Futu by 239.8% during the fourth quarter. Rakuten Securities Inc. now owns 683 shares of the company’s stock valued at $55,000 after acquiring an additional 482 shares in the last quarter. Assetmark Inc. raised its position in shares of Futu by 15,200.0% in the 4th 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 boosted its stake in Futu by 31.0% in the 4th quarter. GAMMA Investing LLC now owns 778 shares of the company’s stock worth $62,000 after purchasing an additional 184 shares in the last quarter. Finally, Vestcor Inc grew its position in Futu by 19.2% during the 4th quarter. Vestcor Inc now owns 907 shares of the company’s stock worth $73,000 after purchasing an additional 146 shares during the last quarter.

Wall Street Analyst Weigh In

FUTU has been the subject of several research reports. UBS Group lifted their price objective on shares of Futu from $130.00 to $136.00 and gave the stock a “buy” rating in a research note on Monday, March 17th. JPMorgan Chase & Co. lifted their price objective on Futu from $160.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $121.20.

Futu Stock Down 14.3 %

Shares of NASDAQ FUTU opened at $83.51 on Friday. Futu Holdings Limited has a 52-week low of $51.80 and a 52-week high of $130.88. The company’s 50-day simple moving average is $108.17 and its 200-day simple moving average is $96.04. The firm has a market cap of $11.51 billion, a price-to-earnings ratio of 20.47, a price-to-earnings-growth ratio of 0.79 and a beta of 0.67.

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.