UBS Asset Management Americas Inc. acquired a new position in Futu Holdings Limited (NASDAQ:FUTU) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 52,853 shares of the company’s stock, valued at approximately $2,418,000.
A number of other large investors have also recently added to or reduced their stakes in the business. Anglepoint Asset Management LTD. increased its stake in Futu by 49.3% in the 4th quarter. Anglepoint Asset Management LTD. now owns 6,336,714 shares of the company’s stock worth $289,905,000 after acquiring an additional 2,093,138 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Futu by 99.8% during the 4th quarter. JPMorgan Chase & Co. now owns 1,530,887 shares of the company’s stock valued at $70,038,000 after purchasing an additional 764,838 shares during the last quarter. Sylebra Capital Ltd increased its position in shares of Futu by 228.4% during the 4th quarter. Sylebra Capital Ltd now owns 1,335,910 shares of the company’s stock valued at $61,118,000 after purchasing an additional 929,123 shares during the last quarter. FengHe Fund Management Pte. Ltd. bought a new position in shares of Futu during the 4th quarter valued at approximately $59,239,000. Finally, Renaissance Technologies LLC increased its position in shares of Futu by 82.7% during the 4th quarter. Renaissance Technologies LLC now owns 1,261,000 shares of the company’s stock valued at $57,691,000 after purchasing an additional 570,700 shares during the last quarter. 14.46% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently weighed in on the company. BOCOM International assumed coverage on Futu in a research report on Monday, January 18th. They set a “buy” rating on the stock. TheStreet raised Futu from a “d-” rating to a “c-” rating in a research report on Tuesday, April 13th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell dropped their price objective on Futu from $246.50 to $230.30 and set a “buy” rating for the company in a report on Tuesday, March 23rd. Morgan Stanley initiated coverage on Futu in a report on Tuesday, February 16th. They set an “overweight” rating and a $253.00 price objective for the company. Finally, Zacks Investment Research upgraded Futu from a “hold” rating to a “strong-buy” rating and set a $205.00 price objective for the company in a report on Tuesday. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $221.16.
Futu Holdings Limited operates an online brokerage and wealth management platform in Hong Kong and internationally. The company provides trading, clearing, and settlement services; margin financing and securities lending services; and stock yield enhancement program. It also offers online wealth management services under the Futu Money Plus brand, which gives access to mutual funds, private funds, and bonds; market data and information services; and NiuNiu Community, which serves as an open forum for users and clients to share insights, ask questions, and exchange ideas.
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