Twinbeech Capital LP Purchases New Shares in Futu Holdings Limited (NASDAQ:FUTU)

Twinbeech Capital LP acquired a new position in shares of Futu Holdings Limited (NASDAQ:FUTU) in the 4th quarter, Holdings Channel.com reports. The firm acquired 53,838 shares of the company’s stock, valued at approximately $4,307,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership bought a new stake in Futu during the 4th quarter worth about $116,315,000. Hhlr Advisors LTD. raised its holdings in Futu by 6.4% during the 4th quarter. Hhlr Advisors LTD. now owns 1,118,303 shares of the company’s stock worth $89,453,000 after purchasing an additional 67,214 shares during the last quarter. Point72 Hong Kong Ltd raised its holdings in Futu by 170.6% during the 4th quarter. Point72 Hong Kong Ltd now owns 830,842 shares of the company’s stock worth $66,459,000 after purchasing an additional 523,808 shares during the last quarter. Geode Capital Management LLC raised its holdings 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 purchasing an additional 21,686 shares during the last quarter. Finally, Norges Bank bought a new stake in Futu during the 4th quarter worth about $39,163,000.

Futu Price Performance

Shares of FUTU stock opened at $110.03 on Wednesday. The stock has a market cap of $15.31 billion, a PE ratio of 26.97, a price-to-earnings-growth ratio of 0.79 and a beta of 0.67. The stock has a 50-day moving average of $96.84 and a 200-day moving average of $95.41. Futu Holdings Limited has a one year low of $51.80 and a one year high of $130.88.

Analyst Upgrades and Downgrades

Several analysts have weighed in on FUTU shares. JPMorgan Chase & Co. boosted their price objective on Futu from $160.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. UBS Group boosted their price objective on Futu from $130.00 to $136.00 and gave the stock a “buy” rating in a report on Monday, March 17th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company 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.