Tiger Pacific Capital LP Has $8.65 Million Stock Position in Futu Holdings Limited (NASDAQ:FUTU)

Tiger Pacific Capital LP raised its position in Futu Holdings Limited (NASDAQ:FUTU) by 71.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 108,100 shares of the company’s stock after purchasing an additional 45,100 shares during the quarter. Futu accounts for about 2.3% of Tiger Pacific Capital LP’s holdings, making the stock its 9th biggest holding. Tiger Pacific Capital LP’s holdings in Futu were worth $8,647,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Norges Bank bought a new position in Futu in the fourth quarter valued at about $39,163,000. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Futu by 183.6% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 333,401 shares of the company’s stock valued at $26,669,000 after buying an additional 215,840 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in shares of Futu by 189.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 39,047 shares of the company’s stock valued at $3,123,000 after buying an additional 25,557 shares during the period. Northern Trust Corp increased its stake in shares of Futu by 89.8% in the fourth quarter. Northern Trust Corp now owns 348,413 shares of the company’s stock valued at $27,870,000 after buying an additional 164,892 shares during the period. Finally, Sei Investments Co. increased its stake in shares of Futu by 381.3% in the fourth quarter. Sei Investments Co. now owns 51,903 shares of the company’s stock valued at $4,152,000 after buying an additional 41,119 shares during the period.

Futu Price Performance

NASDAQ FUTU opened at $107.58 on Friday. The business has a 50 day simple moving average of $96.83 and a 200 day simple moving average of $95.20. Futu Holdings Limited has a one year low of $51.80 and a one year high of $130.88. The stock has a market capitalization of $14.97 billion, a P/E ratio of 26.37, a P/E/G ratio of 0.79 and a beta of 0.67.

Wall Street Analyst Weigh In

FUTU has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on Futu from $160.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. UBS Group increased their price target on Futu from $130.00 to $136.00 and gave the company a “buy” rating in a research note on Monday, March 17th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $121.20.

About Futu

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.