Charles Schwab Investment Management Inc. Grows Stock Holdings in Futu Holdings Limited (NASDAQ:FUTU)

Charles Schwab Investment Management Inc. lifted its holdings in Futu Holdings Limited (NASDAQ:FUTU) by 10.1% during the fourth quarter, Holdings Channel reports. The fund owned 62,374 shares of the company’s stock after buying an additional 5,705 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Futu were worth $4,989,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in FUTU. Natixis Advisors LLC acquired a new stake in Futu during the 3rd quarter worth about $1,100,000. Citigroup Inc. grew its holdings in Futu by 31.6% during the third quarter. Citigroup Inc. now owns 215,419 shares of the company’s stock worth $20,605,000 after acquiring an additional 51,765 shares during the period. Quantbot Technologies LP purchased a new position in Futu during the third quarter valued at approximately $891,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Futu in the third quarter valued at approximately $39,943,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Futu by 18.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,819 shares of the company’s stock worth $1,704,000 after purchasing an additional 2,734 shares in the last quarter.

Analyst Upgrades and Downgrades

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

Futu Price Performance

Futu stock opened at $107.99 on Wednesday. Futu Holdings Limited has a 12 month low of $51.80 and a 12 month high of $130.88. The stock has a market capitalization of $14.88 billion, a PE ratio of 26.47, a price-to-earnings-growth ratio of 0.79 and a beta of 0.78. The business has a 50 day simple moving average of $106.07 and a 200-day simple moving average of $93.89.

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.