Syon Capital LLC purchased a new position in shares of Futu Holdings Limited (NASDAQ:FUTU – Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,353 shares of the company’s stock, valued at approximately $238,000.
Several other institutional investors have also bought and sold shares of the stock. Mackenzie Financial Corp bought a new position in Futu in the 3rd quarter valued at $206,000. XR Securities LLC bought a new position in Futu in the 3rd quarter valued at $213,000. Advisor Partners II LLC bought a new position in Futu in the 3rd quarter valued at $293,000. AustralianSuper Pty Ltd grew its stake in shares of Futu by 18.7% during the 3rd quarter. AustralianSuper Pty Ltd now owns 205,426 shares of the company’s stock worth $11,876,000 after acquiring an additional 32,420 shares during the period. Finally, Assetmark Inc. bought a new position in shares of Futu during the 3rd quarter worth $61,000.
Futu Stock Up 5.4 %
NASDAQ:FUTU opened at $66.38 on Monday. The business’s 50-day moving average price is $56.21 and its two-hundred day moving average price is $54.51. Futu Holdings Limited has a twelve month low of $35.91 and a twelve month high of $68.92.
Analysts Set New Price Targets
FUTU has been the subject of several research reports. Citigroup cut their price target on Futu from $76.90 to $75.30 and set a “buy” rating for the company in a research note on Friday, March 15th. CLSA upgraded Futu from an “underperform” rating to an “outperform” rating and increased their price target for the stock from $50.00 to $65.00 in a research note on Monday, March 18th. JPMorgan Chase & Co. downgraded Futu from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $64.00 to $62.00 in a research note on Friday, March 15th. UBS Group upgraded Futu from a “neutral” rating to a “buy” rating and set a $67.00 price target for the company in a research note on Friday, January 5th. Finally, Morgan Stanley raised Futu from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $40.00 to $50.00 in a report on Thursday, January 4th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $62.83.
Read Our Latest Report on FUTU
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.
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