Futu Holdings Limited (NASDAQ:FUTU) Shares Sold by Polymer Capital Management HK LTD

Polymer Capital Management HK LTD cut its position in Futu Holdings Limited (NASDAQ:FUTU) by 31.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 151,685 shares of the company’s stock after selling 68,783 shares during the quarter. Futu makes up approximately 2.1% of Polymer Capital Management HK LTD’s investment portfolio, making the stock its 10th largest holding. Polymer Capital Management HK LTD’s holdings in Futu were worth $12,133,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of FUTU. Smartleaf Asset Management LLC boosted its holdings 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 acquiring an additional 411 shares during the period. Rakuten Securities Inc. boosted its stake in 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 purchasing an additional 482 shares during the period. 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 during the last quarter. GAMMA Investing LLC increased its position in Futu by 31.0% in the 4th quarter. GAMMA Investing LLC now owns 778 shares of the company’s stock worth $62,000 after buying an additional 184 shares during the period. Finally, Vestcor Inc boosted its position in shares of 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.

Analyst Ratings Changes

FUTU has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of Futu from $160.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. UBS Group upped their price objective on shares of Futu from $130.00 to $136.00 and gave the company a “buy” rating in a research report on Monday, March 17th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Futu presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.20.

Futu Price Performance

Shares of NASDAQ:FUTU opened at $83.51 on Friday. The business’s fifty day moving average price is $108.17 and its two-hundred day moving average price is $96.04. Futu Holdings Limited has a fifty-two week low of $51.80 and a fifty-two week high of $130.88. The stock has a market capitalization of $11.51 billion, a price-to-earnings ratio of 20.47, a price-to-earnings-growth ratio of 0.79 and a beta of 0.67.

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.