Susquehanna Fundamental Investments LLC Invests $3.48 Million in Futu Holdings Limited (NASDAQ:FUTU)

Susquehanna Fundamental Investments LLC purchased a new stake in shares of Futu Holdings Limited (NASDAQ:FUTU) during the 4th quarter, Holdings Channel reports. The fund purchased 43,479 shares of the company’s stock, valued at approximately $3,478,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in FUTU. Arrowstreet Capital Limited Partnership acquired a new stake in Futu in the fourth quarter valued at approximately $116,315,000. Geode Capital Management LLC grew its position in Futu by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 567,635 shares of the company’s stock worth $44,890,000 after acquiring an additional 21,686 shares during the last quarter. Norges Bank bought a new stake in Futu during the 4th quarter worth $39,163,000. SG Americas Securities LLC grew its position in Futu by 236.6% during the 4th quarter. SG Americas Securities LLC now owns 374,193 shares of the company’s stock worth $29,932,000 after acquiring an additional 263,040 shares during the last quarter. Finally, Hsbc Holdings PLC raised its position in Futu by 79.0% in the fourth quarter. Hsbc Holdings PLC now owns 365,826 shares of the company’s stock valued at $29,265,000 after purchasing an additional 161,443 shares during the last quarter.

Futu Trading Up 2.1 %

Shares of FUTU stock opened at $89.68 on Tuesday. The stock has a 50-day moving average of $99.52 and a 200-day moving average of $94.40. The stock has a market cap of $12.36 billion, a price-to-earnings ratio of 21.98, a PEG ratio of 0.79 and a beta of 0.67. Futu Holdings Limited has a 1-year low of $51.80 and a 1-year high of $130.88.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. UBS Group lifted their price target on Futu from $130.00 to $136.00 and gave the company a “buy” rating in a research note on Monday, March 17th. JPMorgan Chase & Co. lifted their target price on shares of Futu from $160.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. 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.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $121.20.

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.