Connor Clark & Lunn Investment Management Ltd. Boosts Stock Holdings in Futu Holdings Limited (NASDAQ:FUTU)

Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Futu Holdings Limited (NASDAQ:FUTU) by 41.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 74,276 shares of the company’s stock after buying an additional 21,746 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.05% of Futu worth $5,941,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its stake in shares of Futu by 1,245.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 444 shares of the company’s stock worth $36,000 after acquiring an additional 411 shares in the last quarter. Rakuten Securities Inc. boosted its position in Futu by 239.8% during the fourth quarter. Rakuten Securities Inc. now owns 683 shares of the company’s stock worth $55,000 after purchasing an additional 482 shares in the last quarter. Assetmark Inc. grew its holdings in Futu by 15,200.0% in the fourth quarter. Assetmark Inc. now owns 765 shares of the company’s stock valued at $61,000 after purchasing an additional 760 shares during the period. GAMMA Investing LLC increased its position in shares of Futu by 31.0% in the fourth quarter. GAMMA Investing LLC now owns 778 shares of the company’s stock valued at $62,000 after buying an additional 184 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Futu by 553.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,490 shares of the company’s stock worth $119,000 after buying an additional 1,262 shares during the period.

Futu Trading Up 10.2 %

NASDAQ:FUTU opened at $118.47 on Friday. Futu Holdings Limited has a twelve month low of $51.80 and a twelve month high of $130.88. The company has a market cap of $16.32 billion, a P/E ratio of 29.04, a P/E/G ratio of 0.79 and a beta of 0.78. The company’s 50-day moving average price is $101.39 and its 200-day moving average price is $91.20.

Analyst Upgrades and Downgrades

FUTU has been the subject of several recent analyst reports. Citigroup lowered 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 report on Tuesday, November 19th. JPMorgan Chase & Co. upped their price target on shares of Futu from $160.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Morgan Stanley upgraded Futu from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $70.00 to $115.00 in a report on Monday, November 18th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $107.00.

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.