Zurcher Kantonalbank Zurich Cantonalbank Acquires 1,961 Shares of Futu Holdings Limited (NASDAQ:FUTU)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Futu Holdings Limited (NASDAQ:FUTU) by 11.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,780 shares of the company’s stock after purchasing an additional 1,961 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Futu were worth $1,582,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Aspex Management HK Ltd grew its holdings in Futu by 2.4% during the 3rd quarter. Aspex Management HK Ltd now owns 4,553,023 shares of the company’s stock valued at $435,497,000 after purchasing an additional 108,219 shares during the last quarter. Hhlr Advisors LTD. lifted its position in shares of Futu by 46.8% in the 3rd quarter. Hhlr Advisors LTD. now owns 1,051,089 shares of the company’s stock worth $100,537,000 after purchasing an additional 335,000 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Futu by 502.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 558,746 shares of the company’s stock worth $53,444,000 after purchasing an additional 465,961 shares during the period. Geode Capital Management LLC raised its stake in shares of Futu by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 545,949 shares of the company’s stock worth $51,475,000 after acquiring an additional 17,513 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Futu during the 3rd quarter worth approximately $39,943,000.

Analysts Set New Price Targets

FUTU has been the topic of a number of recent analyst reports. Citigroup lowered shares of Futu from a “buy” rating to a “neutral” rating and upped their price target for the company from $79.00 to $95.00 in a research note on Tuesday, November 19th. Morgan Stanley upgraded shares of Futu from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $70.00 to $115.00 in a research note on Monday, November 18th. UBS Group increased 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. Finally, JPMorgan Chase & Co. increased their price objective on shares of Futu from $160.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Futu has an average rating of “Moderate Buy” and a consensus price target of $111.83.

Futu Stock Performance

Shares of NASDAQ FUTU opened at $117.11 on Tuesday. The company’s fifty day moving average price is $102.11 and its 200 day moving average price is $91.83. Futu Holdings Limited has a 1 year low of $51.80 and a 1 year high of $130.88. The company has a market capitalization of $16.14 billion, a PE ratio of 28.70, a price-to-earnings-growth ratio of 0.79 and a beta of 0.78.

Futu 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.