Pictet Asset Management Holding SA Has $9.65 Million Stock Holdings in Futu Holdings Limited (NASDAQ:FUTU)

Pictet Asset Management Holding SA reduced its position in shares of Futu Holdings Limited (NASDAQ:FUTU) by 16.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,696 shares of the company’s stock after selling 24,225 shares during the period. Pictet Asset Management Holding SA owned approximately 0.09% of Futu worth $9,654,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FUTU. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Futu by 502.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 558,746 shares of the company’s stock valued at $53,444,000 after purchasing an additional 465,961 shares during the last quarter. Geode Capital Management LLC grew its position in Futu by 3.3% in the third quarter. Geode Capital Management LLC now owns 545,949 shares of the company’s stock valued at $51,475,000 after acquiring an additional 17,513 shares during the last quarter. Norges Bank bought a new position in shares of Futu in the fourth quarter worth about $39,163,000. SG Americas Securities LLC lifted its holdings in shares of Futu by 236.6% in the fourth quarter. SG Americas Securities LLC now owns 374,193 shares of the company’s stock worth $29,932,000 after acquiring an additional 263,040 shares during the last quarter. Finally, Candriam S.C.A. acquired a new stake in shares of Futu in the 4th quarter valued at approximately $28,004,000.

Analyst Ratings Changes

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

Futu Price Performance

NASDAQ:FUTU opened at $103.47 on Thursday. Futu Holdings Limited has a one year low of $51.80 and a one year high of $130.88. The firm’s 50 day simple moving average is $108.35 and its 200 day simple moving average is $95.60. The company has a market cap of $14.26 billion, a PE ratio of 25.36, a P/E/G ratio of 0.79 and a beta of 0.78.

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.