Arrowstreet Capital Limited Partnership Buys New Stake in Futu Holdings Limited (NASDAQ:FUTU)

Arrowstreet Capital Limited Partnership purchased a new position in shares of Futu Holdings Limited (NASDAQ:FUTU) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,454,125 shares of the company’s stock, valued at approximately $116,315,000. Arrowstreet Capital Limited Partnership owned 1.06% of Futu as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Smartleaf Asset Management LLC lifted its holdings in Futu by 1,245.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 444 shares of the company’s stock worth $36,000 after purchasing an additional 411 shares during the period. Rakuten Securities Inc. lifted its stake in shares of Futu by 239.8% in the 4th quarter. Rakuten Securities Inc. now owns 683 shares of the company’s stock worth $55,000 after acquiring an additional 482 shares during the period. Assetmark Inc. boosted its holdings in shares of Futu by 15,200.0% in the fourth quarter. Assetmark Inc. now owns 765 shares of the company’s stock valued at $61,000 after acquiring an additional 760 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Futu by 31.0% during the fourth quarter. GAMMA Investing LLC now owns 778 shares of the company’s stock valued at $62,000 after acquiring an additional 184 shares during the period. Finally, Vestcor Inc raised its holdings in Futu by 19.2% during the fourth quarter. Vestcor Inc now owns 907 shares of the company’s stock worth $73,000 after purchasing an additional 146 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FUTU. JPMorgan Chase & Co. increased their price target on Futu from $160.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. UBS Group raised their target price on Futu from $130.00 to $136.00 and gave the company a “buy” rating in a research note on Monday, March 17th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $121.20.

Futu Stock Performance

Futu stock opened at $103.62 on Monday. Futu Holdings Limited has a 1 year low of $51.80 and a 1 year high of $130.88. The firm’s 50 day moving average price is $107.52 and its two-hundred day moving average price is $94.91. The firm has a market cap of $14.28 billion, a price-to-earnings ratio of 25.40, a price-to-earnings-growth ratio of 0.79 and a beta of 0.78.

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.