Tiger Pacific Capital LP Has $8.65 Million Stock Holdings in Futu Holdings Limited (NASDAQ:FUTU)

Tiger Pacific Capital LP lifted its holdings in shares of Futu Holdings Limited (NASDAQ:FUTU) by 71.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 108,100 shares of the company’s stock after acquiring an additional 45,100 shares during the quarter. Futu makes up about 2.3% of Tiger Pacific Capital LP’s portfolio, making the stock its 9th biggest holding. Tiger Pacific Capital LP owned 0.08% of Futu worth $8,647,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in Futu in the 4th quarter valued at $39,163,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Futu by 183.6% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 333,401 shares of the company’s stock worth $26,669,000 after purchasing an additional 215,840 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of Futu by 189.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 39,047 shares of the company’s stock worth $3,123,000 after purchasing an additional 25,557 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Futu by 89.8% during the 4th quarter. Northern Trust Corp now owns 348,413 shares of the company’s stock worth $27,870,000 after purchasing an additional 164,892 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Futu by 381.3% during the 4th quarter. Sei Investments Co. now owns 51,903 shares of the company’s stock worth $4,152,000 after purchasing an additional 41,119 shares in the last quarter.

Futu Stock Up 1.7%

Shares of FUTU stock opened at $107.58 on Friday. Futu Holdings Limited has a twelve month low of $51.80 and a twelve month high of $130.88. The company has a market cap of $14.97 billion, a P/E ratio of 26.37, a P/E/G ratio of 0.79 and a beta of 0.67. The business has a fifty day simple moving average of $96.83 and a 200 day simple moving average of $95.20.

Analysts Set New Price Targets

Several research firms have recently issued reports on FUTU. UBS Group increased their target price on Futu from $130.00 to $136.00 and gave the stock a “buy” rating in a report on Monday, March 17th. JPMorgan Chase & Co. upped their price objective on 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 data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.