AI Squared Management Ltd Has $7.01 Million Stock Holdings in Futu Holdings Limited (NASDAQ:FUTU)

AI Squared Management Ltd boosted its holdings in Futu Holdings Limited (NASDAQ:FUTU) by 20.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 87,598 shares of the company’s stock after acquiring an additional 15,098 shares during the period. Futu accounts for 7.2% of AI Squared Management Ltd’s holdings, making the stock its 6th biggest position. AI Squared Management Ltd owned about 0.06% of Futu worth $7,007,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Futu by 17.0% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 29,387 shares of the company’s stock worth $2,351,000 after acquiring an additional 4,276 shares during the period. Keystone Investors PTE Ltd. bought a new stake in Futu in the 4th quarter valued at $2,249,000. LPL Financial LLC bought a new position in Futu during the 4th quarter worth $381,000. KLP Kapitalforvaltning AS bought a new stake in shares of Futu in the fourth quarter valued at about $2,189,000. Finally, Sei Investments Co. grew its stake in shares of Futu by 381.3% in the fourth quarter. Sei Investments Co. now owns 51,903 shares of the company’s stock valued at $4,152,000 after acquiring an additional 41,119 shares in the last quarter.

Futu Trading Up 1.3 %

Shares of FUTU opened at $107.76 on Tuesday. The stock’s 50-day moving average price is $105.46 and its two-hundred day moving average price is $93.55. Futu Holdings Limited has a 12 month low of $51.80 and a 12 month high of $130.88. The company has a market capitalization of $14.85 billion, a PE ratio of 26.41, a PEG ratio of 0.79 and a beta of 0.78.

Analyst Upgrades and Downgrades

FUTU has been the subject of several analyst reports. UBS Group lifted their price objective on shares of Futu from $130.00 to $136.00 and gave the stock a “buy” rating in a research note on Monday, March 17th. JPMorgan Chase & Co. upped their target price on Futu from $160.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.