Intech Investment Management LLC Grows Stake in Futu Holdings Limited (NASDAQ:FUTU)

Intech Investment Management LLC grew its stake in shares of Futu Holdings Limited (NASDAQ:FUTU) by 453.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 30,765 shares of the company’s stock after acquiring an additional 25,207 shares during the period. Intech Investment Management LLC’s holdings in Futu were worth $2,461,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Nikko Asset Management Americas Inc. purchased a new stake in Futu in the fourth quarter worth $17,274,000. William Blair Investment Management LLC increased its holdings in Futu by 1,325.6% in the 4th quarter. William Blair Investment Management LLC now owns 285,120 shares of the company’s stock worth $22,806,000 after acquiring an additional 265,120 shares during the last quarter. Achmea Investment Management B.V. bought a new stake in Futu in the 4th quarter valued at about $909,000. Tredje AP fonden purchased a new stake in Futu during the fourth quarter valued at about $3,328,000. Finally, Vestcor Inc boosted its position in Futu by 19.2% during the fourth quarter. Vestcor Inc now owns 907 shares of the company’s stock worth $73,000 after purchasing an additional 146 shares during the period.

Analysts Set New Price Targets

A number of analysts recently commented on FUTU shares. UBS Group upped their price target on shares of Futu from $130.00 to $136.00 and gave the company a “buy” rating in a research note on Monday. JPMorgan Chase & Co. raised their price target on Futu from $160.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $121.20.

Futu Trading Down 4.9 %

Futu stock opened at $109.13 on Friday. Futu Holdings Limited has a 1-year low of $51.80 and a 1-year high of $130.88. The firm has a market capitalization of $15.04 billion, a PE ratio of 26.75, a price-to-earnings-growth ratio of 0.79 and a beta of 0.78. The firm’s 50 day simple moving average is $104.19 and its 200 day simple moving average is $92.46.

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.