Public Employees Retirement Association of Colorado Sells 900 Shares of Futu Holdings Limited (NASDAQ:FUTU)

Public Employees Retirement Association of Colorado lowered its holdings in shares of Futu Holdings Limited (NASDAQ:FUTU) by 7.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 11,091 shares of the company’s stock after selling 900 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Futu were worth $887,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Norges Bank bought a new position in Futu during the 4th quarter worth approximately $39,163,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Futu by 183.6% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 333,401 shares of the company’s stock valued at $26,669,000 after buying an additional 215,840 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in Futu by 189.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 39,047 shares of the company’s stock worth $3,123,000 after acquiring an additional 25,557 shares during the period. Sei Investments Co. raised its position in shares of Futu by 381.3% in the 4th quarter. Sei Investments Co. now owns 51,903 shares of the company’s stock worth $4,152,000 after acquiring an additional 41,119 shares in the last quarter. Finally, APG Asset Management N.V. acquired a new position in shares of Futu in the 4th quarter valued at about $3,399,000.

Futu Stock Performance

Shares of NASDAQ:FUTU opened at $93.51 on Friday. Futu Holdings Limited has a 52-week low of $51.80 and a 52-week high of $130.88. The business’s 50 day simple moving average is $98.03 and its two-hundred day simple moving average is $94.28. The firm has a market cap of $12.89 billion, a P/E ratio of 22.92, a PEG ratio of 0.79 and a beta of 0.67.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on FUTU shares. UBS Group lifted their target price on Futu from $130.00 to $136.00 and gave the stock 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 company an “overweight” rating in a research note on Friday, March 14th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Futu presently has an average 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.