Futu Holdings Limited (NASDAQ:FUTU) Shares Purchased by Tidal Investments LLC

Tidal Investments LLC boosted its holdings in Futu Holdings Limited (NASDAQ:FUTU) by 5.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,025 shares of the company’s stock after acquiring an additional 508 shares during the period. Tidal Investments LLC’s holdings in Futu were worth $802,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in FUTU. Arrowstreet Capital Limited Partnership purchased a new position in Futu in the 4th quarter valued at about $116,315,000. Point72 Hong Kong Ltd lifted its holdings in Futu by 170.6% in the 4th quarter. Point72 Hong Kong Ltd now owns 830,842 shares of the company’s stock valued at $66,459,000 after purchasing an additional 523,808 shares in the last quarter. Norges Bank purchased a new position in Futu in the 4th quarter valued at about $39,163,000. Candriam S.C.A. purchased a new position in Futu in the 4th quarter valued at about $28,004,000. Finally, Man Group plc purchased a new position in Futu in the 4th quarter valued at about $25,430,000.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on FUTU shares. UBS Group upped their target price on shares of Futu from $130.00 to $136.00 and gave the company a “buy” rating in a report on Monday, March 17th. JPMorgan Chase & Co. increased their price objective on shares of Futu from $160.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Futu presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.20.

Futu Price Performance

Shares of FUTU stock opened at $111.76 on Tuesday. The firm has a market cap of $15.55 billion, a P/E ratio of 27.39, a PEG ratio of 0.79 and a beta of 0.67. Futu Holdings Limited has a 1-year low of $51.80 and a 1-year high of $130.88. The firm’s 50-day simple moving average is $96.43 and its 200-day simple moving average is $95.71.

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.