Futu Holdings Limited (NASDAQ:FUTU) is Think Investments LP’s 9th Largest Position

Think Investments LP lowered its holdings in Futu Holdings Limited (NASDAQ:FUTU) by 27.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 249,800 shares of the company’s stock after selling 95,555 shares during the period. Futu makes up 4.4% of Think Investments LP’s portfolio, making the stock its 9th biggest position. Think Investments LP owned about 0.18% of Futu worth $19,982,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Tiger Pacific Capital LP lifted its holdings in shares of Futu by 71.6% in the fourth quarter. Tiger Pacific Capital LP now owns 108,100 shares of the company’s stock valued at $8,647,000 after purchasing an additional 45,100 shares in the last quarter. Siemens Fonds Invest GmbH purchased a new stake in shares of Futu during the fourth quarter worth $301,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Futu during the fourth quarter worth $60,000. Point72 Hong Kong Ltd raised its holdings in shares of Futu by 170.6% during the fourth quarter. Point72 Hong Kong Ltd now owns 830,842 shares of the company’s stock worth $66,459,000 after acquiring an additional 523,808 shares in the last quarter. Finally, Quantinno Capital Management LP raised its holdings in shares of Futu by 29.4% during the fourth quarter. Quantinno Capital Management LP now owns 36,418 shares of the company’s stock worth $2,913,000 after acquiring an additional 8,284 shares in the last quarter.

Futu Trading Up 1.7%

Shares of NASDAQ:FUTU opened at $107.58 on Friday. The firm has a market cap of $14.97 billion, a price-to-earnings ratio of 26.37, a P/E/G ratio of 0.79 and a beta of 0.67. Futu Holdings Limited has a 1 year low of $51.80 and a 1 year high of $130.88. The business has a fifty day simple moving average of $96.83 and a 200 day simple moving average of $95.20.

Wall Street Analysts Forecast Growth

FUTU has been the subject of several recent research reports. 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, March 14th. UBS Group increased their price objective on Futu from $130.00 to $136.00 and gave the stock a “buy” rating in a report on Monday, March 17th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Futu currently has a consensus rating of “Moderate Buy” and an average target price of $121.20.

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.