Price T Rowe Associates Inc. MD Cuts Stock Holdings in Futu Holdings Limited (NASDAQ:FUTU)

Price T Rowe Associates Inc. MD lowered its stake in Futu Holdings Limited (NASDAQ:FUTU) by 17.0% during the 4th quarter, Holdings Channel reports. The firm owned 1,368,627 shares of the company’s stock after selling 280,076 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Futu were worth $109,477,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quantessence Capital LLC bought a new stake in shares of Futu in the fourth quarter worth about $584,000. Hsbc Holdings PLC grew its holdings in Futu by 79.0% during the 4th quarter. Hsbc Holdings PLC now owns 365,826 shares of the company’s stock valued at $29,265,000 after buying an additional 161,443 shares in the last quarter. J. Safra Sarasin Holding AG purchased a new position in Futu during the 4th quarter valued at approximately $1,403,000. Stifel Financial Corp bought a new stake in Futu in the 4th quarter worth approximately $349,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Futu by 4,876.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,588 shares of the company’s stock worth $207,000 after acquiring an additional 2,536 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FUTU. UBS Group raised 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. lifted their price objective on shares of Futu from $160.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $121.20.

Futu Price Performance

NASDAQ:FUTU opened at $87.85 on Monday. The firm has a market capitalization of $12.11 billion, a price-to-earnings ratio of 21.53, a PEG ratio of 0.79 and a beta of 0.67. The business has a 50 day simple moving average of $100.16 and a 200-day simple moving average of $94.55. Futu Holdings Limited has a 1 year low of $51.80 and a 1 year high of $130.88.

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.