Futu Holdings Limited (NASDAQ:FUTU) Shares Sold by Taikang Asset Management Hong Kong Co Ltd

Taikang Asset Management Hong Kong Co Ltd trimmed its holdings in shares of Futu Holdings Limited (NASDAQ:FUTU) by 99.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 882 shares of the company’s stock after selling 144,782 shares during the period. Taikang Asset Management Hong Kong Co Ltd’s holdings in Futu were worth $71,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of FUTU. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings 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 valued at $53,444,000 after purchasing an additional 465,961 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Futu in the third quarter valued at about $39,943,000. Candriam S.C.A. purchased a new stake in shares of Futu during the 4th quarter valued at about $28,004,000. Hhlr Advisors LTD. lifted its position in Futu by 46.8% during the 3rd quarter. Hhlr Advisors LTD. now owns 1,051,089 shares of the company’s stock worth $100,537,000 after acquiring an additional 335,000 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its holdings in Futu by 1,325.6% in the 4th quarter. William Blair Investment Management LLC now owns 285,120 shares of the company’s stock worth $22,806,000 after acquiring an additional 265,120 shares during the period.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Futu from $160.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. UBS Group lifted their price target on shares of Futu from $130.00 to $136.00 and gave the stock a “buy” rating in a research note on Monday, March 17th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Futu has an average rating of “Moderate Buy” and a consensus target price of $121.20.

Futu Trading Up 1.3 %

Futu stock opened at $107.76 on Tuesday. The stock has a 50 day moving average of $105.46 and a 200-day moving average of $93.55. The stock has a market cap of $14.85 billion, a P/E ratio of 26.41, a price-to-earnings-growth ratio of 0.79 and a beta of 0.78. Futu Holdings Limited has a 52 week low of $51.80 and a 52 week high of $130.88.

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.