Raymond James Financial Inc. Buys New Position in Futu Holdings Limited (NASDAQ:FUTU)

Raymond James Financial Inc. purchased a new stake in shares of Futu Holdings Limited (NASDAQ:FUTU) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 9,828 shares of the company’s stock, valued at approximately $786,000.

A number of other hedge funds have also bought and sold shares of FUTU. Smartleaf Asset Management LLC increased its position in shares of Futu by 1,245.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 444 shares of the company’s stock valued at $36,000 after purchasing an additional 411 shares during the last quarter. Rakuten Securities Inc. boosted its stake in Futu by 239.8% in the fourth quarter. Rakuten Securities Inc. now owns 683 shares of the company’s stock valued at $55,000 after acquiring an additional 482 shares during the last quarter. Assetmark Inc. grew its position in shares of Futu by 15,200.0% during the 4th quarter. Assetmark Inc. now owns 765 shares of the company’s stock valued at $61,000 after acquiring an additional 760 shares during the period. GAMMA Investing LLC grew its position in shares of Futu by 31.0% during the 4th quarter. GAMMA Investing LLC now owns 778 shares of the company’s stock valued at $62,000 after acquiring an additional 184 shares during the period. Finally, Vestcor Inc increased its stake in shares of Futu by 19.2% during the 4th quarter. Vestcor Inc now owns 907 shares of the company’s stock worth $73,000 after purchasing an additional 146 shares during the last quarter.

Wall Street Analysts Forecast Growth

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

Futu Stock Performance

Shares of NASDAQ FUTU opened at $102.81 on Wednesday. The stock has a fifty day moving average of $97.49 and a 200-day moving average of $94.44. The stock has a market cap of $14.30 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 0.79 and a beta of 0.67. Futu Holdings Limited has a fifty-two week low of $51.80 and a fifty-two week high of $130.88.

Futu 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.