Price T Rowe Associates Inc. MD Sells 280,076 Shares of Futu Holdings Limited (NASDAQ:FUTU)

Price T Rowe Associates Inc. MD lowered its position in Futu Holdings Limited (NASDAQ:FUTU) by 17.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,368,627 shares of the company’s stock after selling 280,076 shares during the period. Price T Rowe Associates Inc. MD owned about 0.99% of Futu worth $109,477,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of FUTU. Quantessence Capital LLC purchased a new stake in Futu during the fourth quarter valued at approximately $584,000. Hsbc Holdings PLC grew its position in shares of Futu by 79.0% during the 4th quarter. Hsbc Holdings PLC now owns 365,826 shares of the company’s stock valued at $29,265,000 after acquiring an additional 161,443 shares during the period. J. Safra Sarasin Holding AG purchased a new stake in shares of Futu in the 4th quarter worth $1,403,000. Stifel Financial Corp bought a new position in Futu in the 4th quarter worth $349,000. Finally, Tower Research Capital LLC TRC lifted its position in Futu by 4,876.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,588 shares of the company’s stock valued at $207,000 after purchasing an additional 2,536 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FUTU. JPMorgan Chase & Co. upped their price target 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 increased their target price on shares of Futu from $130.00 to $136.00 and gave the stock a “buy” rating in a report on Monday, March 17th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $121.20.

Futu Stock Performance

Shares of Futu stock opened at $87.85 on Monday. The company has a fifty day moving average of $100.16 and a 200 day moving average of $94.55. The company has a market capitalization of $12.11 billion, a P/E ratio of 21.53, a P/E/G 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.

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.