Callan Family Office LLC Purchases New Stake in Futu Holdings Limited (NASDAQ:FUTU)

Callan Family Office LLC acquired a new position in shares of Futu Holdings Limited (NASDAQ:FUTU) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,897 shares of the company’s stock, valued at approximately $632,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FUTU. Candriam S.C.A. bought a new stake in shares of Futu during the fourth quarter worth approximately $28,004,000. Raymond James Financial Inc. acquired a new stake in Futu during the 4th quarter worth approximately $786,000. Aigen Investment Management LP bought a new stake in Futu in the 4th quarter valued at $446,000. Assetmark Inc. grew its holdings in Futu by 15,200.0% in the 4th quarter. Assetmark Inc. now owns 765 shares of the company’s stock valued at $61,000 after buying an additional 760 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Futu by 10.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 62,374 shares of the company’s stock worth $4,989,000 after buying an additional 5,705 shares during the period.

Wall Street Analysts Forecast Growth

FUTU has been the topic of several research reports. Morgan Stanley upgraded shares of Futu from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $70.00 to $115.00 in a research note on Monday, November 18th. Citigroup downgraded shares of Futu from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $79.00 to $95.00 in a report on Tuesday, November 19th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Futu has an average rating of “Moderate Buy” and a consensus price target of $91.40.

Futu Stock Performance

Shares of NASDAQ FUTU opened at $113.00 on Monday. The stock has a market capitalization of $15.57 billion, a P/E ratio of 27.70, a PEG ratio of 0.79 and a beta of 0.78. The stock’s fifty day moving average is $98.32 and its 200 day moving average is $89.69. 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.