26,700 Shares in Futu Holdings Limited (NASDAQ:FUTU) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new stake in Futu Holdings Limited (NASDAQ:FUTU) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 26,700 shares of the company’s stock, valued at approximately $2,189,000.

Several other large investors have also made changes to their positions in the business. Aspex Management HK Ltd increased its holdings in Futu by 2.4% in the 3rd quarter. Aspex Management HK Ltd now owns 4,553,023 shares of the company’s stock worth $435,497,000 after acquiring an additional 108,219 shares in the last quarter. Hhlr Advisors LTD. increased its stake in shares of Futu by 46.8% during the third quarter. Hhlr Advisors LTD. now owns 1,051,089 shares of the company’s stock worth $100,537,000 after purchasing an additional 335,000 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in 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 buying an additional 465,961 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Futu by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 545,949 shares of the company’s stock worth $51,475,000 after buying an additional 17,513 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Futu during the 3rd quarter worth approximately $39,943,000.

Futu Stock Up 2.0 %

Shares of NASDAQ:FUTU opened at $109.68 on Friday. Futu Holdings Limited has a 52-week low of $51.80 and a 52-week high of $130.88. The stock has a market cap of $15.11 billion, a P/E ratio of 26.88, a PEG ratio of 0.79 and a beta of 0.78. The business has a fifty day moving average of $107.20 and a two-hundred day moving average of $94.10.

Analysts Set New Price Targets

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

About Futu

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.