Canada Pension Plan Investment Board bought a new position in shares of Futu Holdings Limited (NASDAQ:FUTU – Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 394,800 shares of the company’s stock, valued at approximately $22,823,000. Canada Pension Plan Investment Board owned 0.26% of Futu at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Futu by 4.3% during the third quarter. BlackRock Inc. now owns 2,836,279 shares of the company’s stock worth $105,765,000 after acquiring an additional 116,706 shares during the last quarter. Morgan Stanley grew its stake in shares of Futu by 33.8% in the fourth quarter. Morgan Stanley now owns 1,371,112 shares of the company’s stock valued at $55,736,000 after buying an additional 346,382 shares in the last quarter. State Street Corp grew its stake in shares of Futu by 6.9% in the first quarter. State Street Corp now owns 1,176,166 shares of the company’s stock valued at $60,984,000 after buying an additional 75,586 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Futu by 4,000.8% in the first quarter. Envestnet Asset Management Inc. now owns 1,015,846 shares of the company’s stock valued at $759,000 after buying an additional 991,074 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of Futu by 360.4% in the second quarter. Hsbc Holdings PLC now owns 729,709 shares of the company’s stock valued at $29,003,000 after buying an additional 571,214 shares in the last quarter. 20.75% of the stock is currently owned by institutional investors and hedge funds.
Futu Stock Performance
FUTU opened at $48.53 on Monday. Futu Holdings Limited has a 12 month low of $35.91 and a 12 month high of $67.49. The stock’s 50 day moving average price is $50.16 and its 200 day moving average price is $54.87.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group increased their target price on Futu from $64.80 to $71.50 and gave the company a “buy” rating in a research note on Friday, November 24th. JPMorgan Chase & Co. raised Futu from a “neutral” rating to an “overweight” rating and set a $64.00 price target for the company in a report on Wednesday, January 17th. UBS Group raised Futu from a “neutral” rating to a “buy” rating and set a $67.00 price target for the company in a report on Friday, January 5th. Finally, Morgan Stanley raised Futu from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $40.00 to $50.00 in a report on Thursday, January 4th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Futu currently has an average rating of “Moderate Buy” and an average price target of $61.76.
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.
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