Zurcher Kantonalbank Zurich Cantonalbank Acquires 1,961 Shares of Futu Holdings Limited (NASDAQ:FUTU)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Futu Holdings Limited (NASDAQ:FUTU) by 11.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,780 shares of the company’s stock after purchasing an additional 1,961 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Futu were worth $1,582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Aspex Management HK Ltd grew its stake in Futu by 2.4% in the 3rd quarter. Aspex Management HK Ltd now owns 4,553,023 shares of the company’s stock valued at $435,497,000 after purchasing an additional 108,219 shares during the period. Hhlr Advisors LTD. grew its stake in Futu by 46.8% in the 3rd quarter. Hhlr Advisors LTD. now owns 1,051,089 shares of the company’s stock valued at $100,537,000 after purchasing an additional 335,000 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Futu by 502.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 558,746 shares of the company’s stock valued at $53,444,000 after purchasing an additional 465,961 shares during the period. Geode Capital Management LLC lifted its position in shares of Futu by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 545,949 shares of the company’s stock valued at $51,475,000 after buying an additional 17,513 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Futu during the 3rd quarter valued at $39,943,000.

Futu Trading Down 1.1 %

Shares of FUTU stock opened at $117.11 on Tuesday. Futu Holdings Limited has a 12-month low of $51.80 and a 12-month high of $130.88. The firm’s 50 day moving average is $102.11 and its 200 day moving average is $91.83. The stock has a market capitalization of $16.14 billion, a P/E ratio of 28.70, a P/E/G ratio of 0.79 and a beta of 0.78.

Analysts Set New Price Targets

A number of research analysts have recently commented on FUTU shares. Citigroup cut Futu from a “buy” rating to a “neutral” rating and upped their price target for the company from $79.00 to $95.00 in a research report on Tuesday, November 19th. Morgan Stanley raised Futu from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $70.00 to $115.00 in a research report on Monday, November 18th. JPMorgan Chase & Co. increased their price objective on Futu from $160.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday. Finally, UBS Group upped their target price on Futu from $130.00 to $136.00 and gave the stock a “buy” rating in a research note on Monday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $111.83.

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.