IvyRock Asset Management HK Ltd Sells 200 Shares of Futu Holdings Limited (NASDAQ:FUTU)

IvyRock Asset Management HK Ltd trimmed its stake in shares of Futu Holdings Limited (NASDAQ:FUTU) by 6.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,800 shares of the company’s stock after selling 200 shares during the period. Futu accounts for 0.1% of IvyRock Asset Management HK Ltd’s portfolio, making the stock its 19th largest holding. IvyRock Asset Management HK Ltd’s holdings in Futu were worth $224,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its position in Futu by 1,245.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 444 shares of the company’s stock worth $36,000 after purchasing an additional 411 shares during the last quarter. Rakuten Securities Inc. increased its holdings in shares of Futu by 239.8% in the 4th quarter. Rakuten Securities Inc. now owns 683 shares of the company’s stock worth $55,000 after buying an additional 482 shares during the last quarter. Assetmark Inc. raised its position in shares of Futu by 15,200.0% during the 4th quarter. Assetmark Inc. now owns 765 shares of the company’s stock valued at $61,000 after buying an additional 760 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Futu by 31.0% in the 4th quarter. GAMMA Investing LLC now owns 778 shares of the company’s stock valued at $62,000 after acquiring an additional 184 shares during the last quarter. Finally, Vestcor Inc increased its stake in Futu by 19.2% during the fourth quarter. Vestcor Inc now owns 907 shares of the company’s stock worth $73,000 after acquiring an additional 146 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FUTU. JPMorgan Chase & Co. increased their target price on Futu from $160.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. UBS Group raised 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. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $121.20.

Futu Trading Up 1.3 %

FUTU opened at $107.76 on Tuesday. Futu Holdings Limited has a 12 month low of $51.80 and a 12 month high of $130.88. The stock has a fifty day moving average price of $105.46 and a 200-day moving average price of $93.55. The firm has a market cap of $14.85 billion, a price-to-earnings ratio of 26.41, a PEG ratio of 0.79 and a beta of 0.78.

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.