Nomura Asset Management Co. Ltd. Buys 25,557 Shares of Futu Holdings Limited (NASDAQ:FUTU)

Nomura Asset Management Co. Ltd. lifted its stake in shares of Futu Holdings Limited (NASDAQ:FUTU) by 189.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,047 shares of the company’s stock after acquiring an additional 25,557 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Futu were worth $3,123,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Futu by 502.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 558,746 shares of the company’s stock valued at $53,444,000 after purchasing an additional 465,961 shares during the period. Geode Capital Management LLC boosted its position in shares of Futu by 3.3% during the third quarter. Geode Capital Management LLC now owns 545,949 shares of the company’s stock worth $51,475,000 after buying an additional 17,513 shares during the period. Norges Bank bought a new position in shares of Futu during the fourth quarter worth about $39,163,000. SG Americas Securities LLC raised its position in Futu by 236.6% in the 4th quarter. SG Americas Securities LLC now owns 374,193 shares of the company’s stock valued at $29,932,000 after buying an additional 263,040 shares during the last quarter. Finally, Candriam S.C.A. bought a new stake in Futu in the 4th quarter valued at approximately $28,004,000.

Analyst Ratings Changes

A number of analysts have recently issued reports on FUTU shares. 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 report on Friday, March 14th. UBS Group lifted their price target 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. One research 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 target price of $121.20.

Futu Trading Up 1.0 %

Shares of FUTU opened at $103.37 on Wednesday. The company’s fifty day simple moving average is $108.06 and its 200 day simple moving average is $95.55. Futu Holdings Limited has a 1-year low of $51.80 and a 1-year high of $130.88. The company has a market cap of $14.24 billion, a price-to-earnings ratio of 25.34, a PEG ratio of 0.79 and a beta of 0.78.

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.