Korea Investment CORP Has $2.90 Million Stake in Futu Holdings Limited (NASDAQ:FUTU)

Korea Investment CORP raised its stake in Futu Holdings Limited (NASDAQ:FUTU) by 42.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 36,214 shares of the company’s stock after buying an additional 10,721 shares during the quarter. Korea Investment CORP’s holdings in Futu were worth $2,897,000 as of its most recent SEC filing.

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

Futu Trading Up 1.0 %

NASDAQ:FUTU opened at $103.37 on Wednesday. Futu Holdings Limited has a 12 month low of $51.80 and a 12 month high of $130.88. The firm’s 50 day moving average is $108.06 and its 200 day moving average is $95.55. The stock has a market capitalization of $14.24 billion, a PE ratio of 25.34, a price-to-earnings-growth ratio of 0.79 and a beta of 0.78.

Analysts Set New Price Targets

FUTU has been the topic of a number of research analyst reports. UBS Group boosted their target price on Futu from $130.00 to $136.00 and gave the stock a “buy” rating in a research note on Monday, March 17th. JPMorgan Chase & Co. boosted 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. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.