Hel Ved Capital Management Ltd Takes $12.40 Million Position in Futu Holdings Limited (NASDAQ:FUTU)

Hel Ved Capital Management Ltd purchased a new stake in shares of Futu Holdings Limited (NASDAQ:FUTU) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 155,000 shares of the company’s stock, valued at approximately $12,398,000. Futu makes up approximately 3.6% of Hel Ved Capital Management Ltd’s investment portfolio, making the stock its 6th biggest position. Hel Ved Capital Management Ltd owned about 0.11% of Futu as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd lifted its holdings in shares of Futu by 136.9% during the third quarter. Y Intercept Hong Kong Ltd now owns 42,149 shares of the company’s stock valued at $4,032,000 after purchasing an additional 24,355 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in Futu by 183.6% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 333,401 shares of the company’s stock valued at $26,669,000 after buying an additional 215,840 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Futu by 19.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 56,669 shares of the company’s stock valued at $5,420,000 after buying an additional 9,221 shares during the last quarter. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Futu in the fourth quarter worth $1,200,000. Finally, New York State Common Retirement Fund bought a new position in shares of Futu during the fourth quarter valued at $2,436,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. UBS Group upped their price target 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. increased their price target on shares of Futu from $160.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, March 14th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Futu has a consensus rating of “Moderate Buy” and a consensus target price of $121.20.

Futu Stock Performance

Shares of NASDAQ:FUTU opened at $83.51 on Friday. The business has a 50-day simple moving average of $108.17 and a two-hundred day simple moving average of $95.80. The firm has a market cap of $11.51 billion, a price-to-earnings ratio of 20.47, a price-to-earnings-growth 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.

Futu Company Profile

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.