Dorsey Wright & Associates Purchases New Shares in Futu Holdings Limited (NASDAQ:FUTU)

Dorsey Wright & Associates purchased a new position in shares of Futu Holdings Limited (NASDAQ:FUTU) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 18,750 shares of the company’s stock, valued at approximately $1,500,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd lifted its position in shares of Futu by 136.9% during the third quarter. Y Intercept Hong Kong Ltd now owns 42,149 shares of the company’s stock worth $4,032,000 after purchasing an additional 24,355 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Futu by 183.6% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 333,401 shares of the company’s stock worth $26,669,000 after buying an additional 215,840 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Futu by 19.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 56,669 shares of the company’s stock valued at $5,420,000 after buying an additional 9,221 shares during the last quarter. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Futu in the 4th quarter valued at $1,200,000. Finally, New York State Common Retirement Fund acquired a new position in shares of Futu during the fourth quarter valued at $2,436,000.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Futu from $160.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. UBS Group lifted their price target on shares of Futu from $130.00 to $136.00 and gave the stock a “buy” rating in a research report 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 MarketBeat, Futu presently has an average rating of “Moderate Buy” and a consensus target price of $121.20.

Futu Trading Down 5.5 %

Shares of FUTU opened at $103.62 on Friday. The stock has a market cap of $14.28 billion, a P/E ratio of 25.40, a price-to-earnings-growth ratio of 0.79 and a beta of 0.78. The stock’s 50-day moving average price is $107.52 and its two-hundred day moving average price is $94.66. 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.