Intech Investment Management LLC Acquires 25,207 Shares of Futu Holdings Limited (NASDAQ:FUTU)

Intech Investment Management LLC increased its stake in Futu Holdings Limited (NASDAQ:FUTU) by 453.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,765 shares of the company’s stock after purchasing an additional 25,207 shares during the period. Intech Investment Management LLC’s holdings in Futu were worth $2,461,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in 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 worth $53,444,000 after buying an additional 465,961 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Futu in the third quarter worth $39,943,000. Candriam S.C.A. bought a new position in Futu in the fourth quarter valued at $28,004,000. Hhlr Advisors LTD. raised its position in Futu by 46.8% during the third quarter. Hhlr Advisors LTD. now owns 1,051,089 shares of the company’s stock valued at $100,537,000 after purchasing an additional 335,000 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its stake in Futu by 1,325.6% during the fourth quarter. William Blair Investment Management LLC now owns 285,120 shares of the company’s stock worth $22,806,000 after purchasing an additional 265,120 shares during the last quarter.

Analysts Set New Price Targets

A number of analysts recently weighed in on FUTU shares. JPMorgan Chase & Co. boosted their target price 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 boosted their price objective on shares of Futu from $130.00 to $136.00 and gave the stock a “buy” rating in a report on Monday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $121.20.

Futu Trading Down 4.9 %

NASDAQ FUTU opened at $109.13 on Friday. The stock has a 50-day moving average of $104.19 and a 200-day moving average of $92.46. Futu Holdings Limited has a 1-year low of $51.80 and a 1-year high of $130.88. The firm has a market cap of $15.04 billion, a PE ratio of 26.75, a price-to-earnings-growth ratio of 0.79 and a beta of 0.78.

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.