Quantinno Capital Management LP Increases Stake in Futu Holdings Limited (NASDAQ:FUTU)

Quantinno Capital Management LP raised its stake in shares of Futu Holdings Limited (NASDAQ:FUTU) by 29.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,418 shares of the company’s stock after buying an additional 8,284 shares during the quarter. Quantinno Capital Management LP’s holdings in Futu were worth $2,913,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in FUTU. Norges Bank bought a new position in shares of Futu during the 4th quarter valued at approximately $39,163,000. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Futu by 183.6% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 333,401 shares of the company’s stock valued at $26,669,000 after acquiring an additional 215,840 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of Futu by 189.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 39,047 shares of the company’s stock valued at $3,123,000 after acquiring an additional 25,557 shares during the last quarter. Northern Trust Corp boosted its position in shares of Futu by 89.8% during the 4th quarter. Northern Trust Corp now owns 348,413 shares of the company’s stock valued at $27,870,000 after acquiring an additional 164,892 shares during the last quarter. Finally, Sei Investments Co. boosted its position in shares of Futu by 381.3% during the 4th quarter. Sei Investments Co. now owns 51,903 shares of the company’s stock valued at $4,152,000 after acquiring an additional 41,119 shares during the last quarter.

Futu Stock Up 1.9%

NASDAQ FUTU opened at $109.60 on Tuesday. The company has a fifty day moving average of $96.79 and a two-hundred day moving average of $95.30. The firm has a market capitalization of $15.25 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 0.79 and a beta of 0.67. Futu Holdings Limited has a 52 week low of $51.80 and a 52 week high of $130.88.

Analysts Set New Price Targets

FUTU has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on Futu from $160.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. UBS Group increased their target price on 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 issued a buy rating to the stock. According to data from MarketBeat.com, Futu currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.20.

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.