Pictet Asset Management Holding SA Has $9.65 Million Stake in Futu Holdings Limited (NASDAQ:FUTU)

Pictet Asset Management Holding SA reduced its holdings in shares of Futu Holdings Limited (NASDAQ:FUTU) by 16.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 120,696 shares of the company’s stock after selling 24,225 shares during the period. Pictet Asset Management Holding SA’s holdings in Futu were worth $9,654,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in FUTU. Nomura Asset Management Co. Ltd. grew its stake in Futu by 189.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 39,047 shares of the company’s stock worth $3,123,000 after purchasing an additional 25,557 shares during the period. Norges Bank acquired a new stake in shares of Futu during the 4th quarter worth approximately $39,163,000. Brilliance Asset Management Ltd. acquired a new position in shares of Futu during the 4th quarter valued at $14,540,000. Korea Investment CORP lifted its position in shares of Futu by 42.1% during the 4th quarter. Korea Investment CORP now owns 36,214 shares of the company’s stock valued at $2,897,000 after acquiring an additional 10,721 shares during the period. Finally, AI Squared Management Ltd boosted its stake in Futu by 20.8% during the fourth quarter. AI Squared Management Ltd now owns 87,598 shares of the company’s stock worth $7,007,000 after acquiring an additional 15,098 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FUTU. 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. JPMorgan Chase & Co. boosted their target price on Futu from $160.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Futu currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.20.

Futu Trading Up 0.1 %

Futu stock opened at $103.47 on Thursday. The firm has a market capitalization of $14.26 billion, a price-to-earnings ratio of 25.36, a price-to-earnings-growth ratio of 0.79 and a beta of 0.78. The firm’s fifty day moving average price is $108.35 and its two-hundred day moving average price is $95.60. 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.