Futu Holdings Limited (NASDAQ:FUTU) Shares Sold by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC cut its holdings in shares of Futu Holdings Limited (NASDAQ:FUTU) by 28.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 44,384 shares of the company’s stock after selling 17,733 shares during the quarter. Schonfeld Strategic Advisors LLC’s holdings in Futu were worth $3,550,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its position in shares of Futu by 1,245.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 444 shares of the company’s stock valued at $36,000 after acquiring an additional 411 shares during the last quarter. Rakuten Securities Inc. increased its holdings in Futu by 239.8% in the 4th quarter. Rakuten Securities Inc. now owns 683 shares of the company’s stock valued at $55,000 after purchasing an additional 482 shares during the last quarter. Assetmark Inc. raised its position in Futu by 15,200.0% in the fourth quarter. Assetmark Inc. now owns 765 shares of the company’s stock valued at $61,000 after purchasing an additional 760 shares during the period. GAMMA Investing LLC lifted its stake in Futu by 31.0% during the fourth quarter. GAMMA Investing LLC now owns 778 shares of the company’s stock worth $62,000 after purchasing an additional 184 shares in the last quarter. Finally, Vestcor Inc lifted its stake 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 in the last quarter.

Futu Price Performance

FUTU opened at $98.60 on Friday. The stock has a market capitalization of $13.59 billion, a price-to-earnings ratio of 24.17, a PEG ratio of 0.79 and a beta of 0.67. The business has a fifty day moving average price of $97.91 and a 200 day moving average price of $94.29. Futu Holdings Limited has a 12 month low of $51.80 and a 12 month high of $130.88.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. raised 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 price objective on shares of Futu from $130.00 to $136.00 and gave the company a “buy” rating in a report on Monday, March 17th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Futu has an average rating of “Moderate Buy” and an average price target of $121.20.

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.