Twinbeech Capital LP Makes New Investment in Futu Holdings Limited (NASDAQ:FUTU)

Twinbeech Capital LP purchased a new position in shares of Futu Holdings Limited (NASDAQ:FUTU) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 53,838 shares of the company’s stock, valued at approximately $4,307,000.

Other institutional investors have also recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Futu by 1.2% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,326 shares of the company’s stock valued at $746,000 after purchasing an additional 113 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Futu by 0.6% in the 4th quarter. Rhumbline Advisers now owns 23,023 shares of the company’s stock valued at $1,842,000 after purchasing an additional 144 shares in the last quarter. Vestcor Inc boosted its stake in shares of Futu by 19.2% in the 4th quarter. Vestcor Inc now owns 907 shares of the company’s stock valued at $73,000 after purchasing an additional 146 shares in the last quarter. Voya Investment Management LLC boosted its stake in shares of Futu by 1.6% in the 4th quarter. Voya Investment Management LLC now owns 9,549 shares of the company’s stock valued at $764,000 after purchasing an additional 153 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Futu by 77.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 452 shares of the company’s stock valued at $36,000 after purchasing an additional 197 shares in the last quarter.

Futu Stock Up 0.4%

Futu stock opened at $110.03 on Wednesday. The stock has a 50-day simple moving average of $96.84 and a 200 day simple moving average of $95.41. Futu Holdings Limited has a 12-month low of $51.80 and a 12-month high of $130.88. The stock has a market capitalization of $15.31 billion, a price-to-earnings ratio of 26.97, a P/E/G ratio of 0.79 and a beta of 0.67.

Wall Street Analysts Forecast Growth

FUTU has been the topic of several recent analyst reports. UBS Group boosted their target price on shares of Futu from $130.00 to $136.00 and gave the company a “buy” rating in a research note on Monday, March 17th. JPMorgan Chase & Co. lifted their price target on Futu from $160.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, March 14th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock 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.