Worldquant Millennium Advisors LLC Makes New Investment in Futu Holdings Limited (NASDAQ:FUTU)

Worldquant Millennium Advisors LLC purchased a new position in Futu Holdings Limited (NASDAQ:FUTU) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 105,065 shares of the company’s stock, valued at approximately $8,404,000. Worldquant Millennium Advisors LLC owned about 0.08% of Futu at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on FUTU shares. JPMorgan Chase & Co. boosted their target price 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. UBS Group upped their price objective on shares of Futu from $130.00 to $136.00 and gave the stock a “buy” rating in a research report on Monday, March 17th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Futu presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.20.

Futu Stock Down 0.8%

FUTU stock opened at $109.19 on Thursday. The stock has a market capitalization of $15.19 billion, a P/E ratio of 26.76, a P/E/G ratio of 0.79 and a beta of 0.67. The firm has a 50-day simple moving average of $96.66 and a 200-day simple moving average of $95.50. Futu Holdings Limited has a 52 week low of $51.80 and a 52 week high of $130.88.

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.