Rhumbline Advisers Buys 144 Shares of Futu Holdings Limited (NASDAQ:FUTU)

Rhumbline Advisers lifted its position in Futu Holdings Limited (NASDAQ:FUTU) by 0.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 23,023 shares of the company’s stock after purchasing an additional 144 shares during the quarter. Rhumbline Advisers’ holdings in Futu were worth $1,842,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Valliance Asset Management Ltd bought a new stake in shares of Futu during the third quarter worth $956,000. Sumitomo Mitsui Trust Group Inc. lifted its position in Futu by 14.8% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 117,561 shares of the company’s stock valued at $11,245,000 after purchasing an additional 15,127 shares during the period. Y Intercept Hong Kong Ltd boosted its stake in shares of Futu by 136.9% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 42,149 shares of the company’s stock valued at $4,032,000 after purchasing an additional 24,355 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Futu by 127.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 52,530 shares of the company’s stock worth $5,024,000 after buying an additional 29,401 shares during the period. Finally, Natixis Advisors LLC bought a new position in shares of Futu in the 3rd quarter worth $1,100,000.

Futu Stock Performance

NASDAQ FUTU opened at $103.74 on Tuesday. Futu Holdings Limited has a 52-week low of $51.80 and a 52-week high of $130.88. The business has a 50 day simple moving average of $95.99 and a 200 day simple moving average of $88.19. The stock has a market cap of $14.29 billion, a price-to-earnings ratio of 25.43, a PEG ratio of 0.79 and a beta of 0.76.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on FUTU shares. Citigroup lowered Futu from a “buy” rating to a “neutral” rating and increased their target price for the company from $79.00 to $95.00 in a research note on Tuesday, November 19th. Morgan Stanley upgraded shares of Futu from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $70.00 to $115.00 in a research report on Monday, November 18th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.40.

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.