Futu Holdings Limited (NASDAQ:FUTU) Shares Sold by IvyRock Asset Management HK Ltd

IvyRock Asset Management HK Ltd trimmed its position in Futu Holdings Limited (NASDAQ:FUTU) by 6.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,800 shares of the company’s stock after selling 200 shares during the period. Futu accounts for approximately 0.1% of IvyRock Asset Management HK Ltd’s investment portfolio, making the stock its 19th biggest holding. IvyRock Asset Management HK Ltd’s holdings in Futu were worth $224,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AI Squared Management Ltd raised its holdings in shares of Futu by 20.8% during the fourth quarter. AI Squared Management Ltd now owns 87,598 shares of the company’s stock worth $7,007,000 after purchasing an additional 15,098 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in Futu by 17.0% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 29,387 shares of the company’s stock worth $2,351,000 after purchasing an additional 4,276 shares during the period. Keystone Investors PTE Ltd. purchased a new position in shares of Futu during the 4th quarter valued at about $2,249,000. LPL Financial LLC acquired a new position in shares of Futu in the 4th quarter valued at about $381,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Futu in the fourth quarter worth about $2,189,000.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. UBS Group boosted their price target on Futu from $130.00 to $136.00 and gave the company a “buy” rating in a report on Monday, March 17th. JPMorgan Chase & Co. raised their price target 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. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $121.20.

Futu Stock Performance

Shares of NASDAQ FUTU opened at $107.76 on Tuesday. The firm has a fifty day moving average of $105.46 and a 200 day moving average of $93.55. The firm has a market cap of $14.85 billion, a PE ratio of 26.41, a PEG ratio of 0.79 and a beta of 0.78. Futu Holdings Limited has a one year low of $51.80 and a one year high of $130.88.

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.