Aigen Investment Management LP Makes New Investment in Futu Holdings Limited (NASDAQ:FUTU)

Aigen Investment Management LP bought a new position in Futu Holdings Limited (NASDAQ:FUTU) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,579 shares of the company’s stock, valued at approximately $446,000.

A number of other institutional investors have also recently made changes to their positions in FUTU. Janney Montgomery Scott LLC boosted its stake in shares of Futu by 20.1% during the third quarter. Janney Montgomery Scott LLC now owns 9,841 shares of the company’s stock valued at $941,000 after purchasing an additional 1,650 shares during the period. Asset Management One Co. Ltd. boosted its stake in shares of Futu by 10.4% during the third quarter. Asset Management One Co. Ltd. now owns 29,592 shares of the company’s stock valued at $2,830,000 after purchasing an additional 2,776 shares during the period. Valliance Asset Management Ltd purchased a new stake in shares of Futu during the third quarter valued at approximately $956,000. Lifestyle Asset Management Inc. boosted its stake in shares of Futu by 6.1% during the third quarter. Lifestyle Asset Management Inc. now owns 5,373 shares of the company’s stock valued at $514,000 after purchasing an additional 307 shares during the period. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of Futu during the third quarter valued at approximately $346,000.

Futu Stock Down 3.2 %

FUTU stock opened at $113.00 on Friday. The business’s 50-day moving average price is $97.71 and its 200-day moving average price is $88.95. The stock has a market cap of $15.57 billion, a P/E ratio of 27.70, a PEG ratio of 0.79 and a beta of 0.78. Futu Holdings Limited has a twelve month low of $51.80 and a twelve month high of $130.88.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FUTU. Citigroup lowered 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 note on Tuesday, November 19th. Morgan Stanley raised Futu from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $70.00 to $115.00 in a research note on Monday, November 18th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Futu currently has a consensus rating of “Moderate Buy” and an average target price of $91.40.

Futu Company 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.