Nikko Asset Management Americas Inc. Acquires New Position in Futu Holdings Limited (NASDAQ:FUTU)

Nikko Asset Management Americas Inc. bought a new position in Futu Holdings Limited (NASDAQ:FUTU) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 215,958 shares of the company’s stock, valued at approximately $17,274,000. Nikko Asset Management Americas Inc. owned approximately 0.16% of Futu as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. William Blair Investment Management LLC grew its position in Futu by 1,325.6% in the fourth 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 in the last quarter. Achmea Investment Management B.V. bought a new stake in Futu in the fourth quarter worth approximately $909,000. Tredje AP fonden bought a new stake in Futu in the fourth quarter worth approximately $3,328,000. Vestcor Inc grew its position in Futu by 19.2% in the fourth quarter. Vestcor Inc now owns 907 shares of the company’s stock worth $73,000 after acquiring an additional 146 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Futu by 41.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 74,276 shares of the company’s stock worth $5,941,000 after acquiring an additional 21,746 shares in the last quarter.

Wall Street Analyst Weigh In

FUTU has been the subject of several recent research reports. Morgan Stanley raised shares of Futu from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $70.00 to $115.00 in a research report on Monday, November 18th. Citigroup cut shares of Futu from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $79.00 to $95.00 in a research note on Tuesday, November 19th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Futu from $160.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $107.00.

Futu Price Performance

NASDAQ:FUTU opened at $118.47 on Monday. The stock has a market cap of $16.32 billion, a P/E ratio of 29.04, a PEG ratio of 0.79 and a beta of 0.78. Futu Holdings Limited has a one year low of $51.80 and a one year high of $130.88. The company has a fifty day moving average price of $101.39 and a 200 day moving average price of $91.43.

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.