Futu Holdings Limited (NASDAQ:FUTU) Position Boosted by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC raised its holdings in shares of Futu Holdings Limited (NASDAQ:FUTU) by 553.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,490 shares of the company’s stock after acquiring an additional 1,262 shares during the period. EverSource Wealth Advisors LLC’s holdings in Futu were worth $119,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. lifted its holdings in Futu by 139.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 10,300 shares of the company’s stock worth $824,000 after purchasing an additional 6,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Futu by 11.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,780 shares of the company’s stock worth $1,582,000 after acquiring an additional 1,961 shares during the period. Callan Family Office LLC bought a new position in shares of Futu in the fourth quarter valued at approximately $632,000. Candriam S.C.A. acquired a new position in shares of Futu during the fourth quarter valued at approximately $28,004,000. Finally, Raymond James Financial Inc. bought a new stake in Futu during the fourth quarter worth approximately $786,000.

Futu Trading Down 1.1 %

Shares of FUTU opened at $117.11 on Tuesday. The business’s 50-day moving average price is $102.11 and its 200 day moving average price is $91.83. The stock has a market capitalization of $16.14 billion, a P/E ratio of 28.70, a P/E/G ratio of 0.79 and a beta of 0.78. Futu Holdings Limited has a 1-year low of $51.80 and a 1-year high of $130.88.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. increased their price target on Futu from $160.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday. UBS Group raised their target price on Futu from $130.00 to $136.00 and gave the company a “buy” rating in a research note on Monday. Citigroup cut shares of Futu from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $79.00 to $95.00 in a research report on Tuesday, November 19th. Finally, Morgan Stanley upgraded shares of Futu from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $70.00 to $115.00 in a research report on Monday, November 18th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Futu currently has a consensus rating of “Moderate Buy” and an average target price of $111.83.

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.