Futu Holdings Limited (NASDAQ:FUTU) Stock Position Reduced by Taikang Asset Management Hong Kong Co Ltd

Taikang Asset Management Hong Kong Co Ltd trimmed its position in Futu Holdings Limited (NASDAQ:FUTU) by 99.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 882 shares of the company’s stock after selling 144,782 shares during the period. Taikang Asset Management Hong Kong Co Ltd’s holdings in Futu were worth $71,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

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

Futu Price Performance

Shares of Futu stock opened at $107.76 on Tuesday. Futu Holdings Limited has a 1-year low of $51.80 and a 1-year high of $130.88. The company has a market capitalization of $14.85 billion, a P/E ratio of 26.41, a PEG ratio of 0.79 and a beta of 0.78. The business’s fifty day moving average price is $105.46 and its two-hundred day moving average price is $93.55.

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.