Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 3,200 Shares of Futu Holdings Limited (NASDAQ:FUTU)

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its stake in shares of Futu Holdings Limited (NASDAQ:FUTU) by 18.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,198 shares of the company’s stock after selling 3,200 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Futu were worth $1,136,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of FUTU. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Futu by 502.2% during the third 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 acquiring an additional 465,961 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Futu during the third quarter valued at $39,943,000. Veritas Asset Management LLP purchased a new stake in shares of Futu during the third quarter valued at $39,547,000. Yong Rong HK Asset Management Ltd boosted its position in shares of Futu by 2,525.3% during the third quarter. Yong Rong HK Asset Management Ltd now owns 393,800 shares of the company’s stock valued at $37,667,000 after buying an additional 378,800 shares during the last quarter. Finally, Hhlr Advisors LTD. boosted its position in shares of Futu by 46.8% during the third quarter. Hhlr Advisors LTD. now owns 1,051,089 shares of the company’s stock valued at $100,537,000 after buying an additional 335,000 shares during the last quarter.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Citigroup cut Futu from a “buy” rating to a “neutral” rating and increased their price objective for the company from $79.00 to $95.00 in a research report on Tuesday, November 19th. Morgan Stanley raised Futu from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $70.00 to $115.00 in a research report on Monday, November 18th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $91.40.

Futu Stock Performance

Shares of NASDAQ:FUTU opened at $114.00 on Thursday. The stock has a market capitalization of $15.71 billion, a price-to-earnings ratio of 27.94, a PEG ratio of 0.79 and a beta of 0.76. The stock’s 50-day simple moving average is $94.59 and its two-hundred day simple moving average is $87.00. Futu Holdings Limited has a 52-week low of $51.80 and a 52-week high of $130.88.

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.