AI Squared Management Ltd Has $7.01 Million Position in Futu Holdings Limited (NASDAQ:FUTU)

AI Squared Management Ltd boosted its position in Futu Holdings Limited (NASDAQ:FUTU) by 20.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 87,598 shares of the company’s stock after acquiring an additional 15,098 shares during the period. Futu accounts for about 7.2% of AI Squared Management Ltd’s holdings, making the stock its 6th biggest position. AI Squared Management Ltd’s holdings in Futu were worth $7,007,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its position in Futu by 1,245.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 444 shares of the company’s stock valued at $36,000 after acquiring an additional 411 shares in the last quarter. Rakuten Securities Inc. grew its stake in shares of Futu by 239.8% in the 4th quarter. Rakuten Securities Inc. now owns 683 shares of the company’s stock worth $55,000 after acquiring an additional 482 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Futu by 15,200.0% in the fourth quarter. Assetmark Inc. now owns 765 shares of the company’s stock valued at $61,000 after purchasing an additional 760 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Futu by 31.0% during the fourth quarter. GAMMA Investing LLC now owns 778 shares of the company’s stock worth $62,000 after purchasing an additional 184 shares during the last quarter. Finally, Vestcor Inc grew its position in Futu by 19.2% in the 4th quarter. Vestcor Inc now owns 907 shares of the company’s stock worth $73,000 after purchasing an additional 146 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on FUTU. JPMorgan Chase & Co. boosted their target price on Futu from $160.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. UBS Group boosted their price objective on 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $121.20.

Futu Trading Up 1.3 %

NASDAQ:FUTU opened at $107.76 on Tuesday. Futu Holdings Limited has a 12 month low of $51.80 and a 12 month high of $130.88. The firm’s 50 day moving average is $105.46 and its 200 day moving average is $93.55. The stock has a market capitalization of $14.85 billion, a PE ratio of 26.41, a price-to-earnings-growth ratio of 0.79 and a beta of 0.78.

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.