Sei Investments Co. Boosts Stake in Futu Holdings Limited (NASDAQ:FUTU)

Sei Investments Co. increased its stake in shares of Futu Holdings Limited (NASDAQ:FUTU) by 381.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 51,903 shares of the company’s stock after acquiring an additional 41,119 shares during the period. Sei Investments Co.’s holdings in Futu were worth $4,152,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. grew its position in shares of Futu by 5.7% during the fourth quarter. American Century Companies Inc. now owns 8,994 shares of the company’s stock worth $719,000 after acquiring an additional 488 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Futu by 1.2% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,326 shares of the company’s stock valued at $746,000 after purchasing an additional 113 shares during the period. Platinum Investment Management Ltd. bought a new position in Futu in the 4th quarter worth about $86,000. Intech Investment Management LLC increased its stake in shares of Futu by 453.5% in the fourth quarter. Intech Investment Management LLC now owns 30,765 shares of the company’s stock valued at $2,461,000 after purchasing an additional 25,207 shares during the period. Finally, Nikko Asset Management Americas Inc. bought a new stake in shares of Futu during the fourth quarter valued at approximately $17,274,000.

Analysts Set New Price Targets

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

Futu Trading Up 0.1 %

Shares of FUTU stock opened at $103.47 on Thursday. Futu Holdings Limited has a 12 month low of $51.80 and a 12 month high of $130.88. The company has a market capitalization of $14.26 billion, a P/E ratio of 25.36, a P/E/G ratio of 0.79 and a beta of 0.78. The stock has a 50 day moving average of $108.35 and a two-hundred day moving average of $95.60.

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.