Futu Holdings Limited (NASDAQ:FUTU) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lessened its stake in shares of Futu Holdings Limited (NASDAQ:FUTU) by 29.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,436 shares of the company’s stock after selling 1,028 shares during the period. PNC Financial Services Group Inc.’s holdings in Futu were worth $195,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FUTU. Callan Family Office LLC acquired a new position in shares of Futu during the 4th quarter valued at $632,000. Candriam S.C.A. bought a new position in Futu during the fourth quarter valued at about $28,004,000. Raymond James Financial Inc. bought a new position in Futu during the fourth quarter valued at about $786,000. Aigen Investment Management LP acquired a new position in Futu during the fourth quarter worth about $446,000. Finally, Assetmark Inc. lifted its holdings in Futu by 15,200.0% in the 4th quarter. Assetmark Inc. now owns 765 shares of the company’s stock valued at $61,000 after acquiring an additional 760 shares during the last quarter.

Analyst Upgrades and Downgrades

FUTU has been the topic of several recent research reports. JPMorgan Chase & Co. lifted 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, March 14th. UBS Group lifted their price target on shares of Futu from $130.00 to $136.00 and gave the stock a “buy” rating in a research report on Monday, March 17th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $121.20.

Futu Trading Down 2.5 %

Shares of FUTU opened at $106.36 on Monday. The business’s 50-day moving average price is $104.81 and its 200 day moving average price is $93.21. The stock has a market capitalization of $14.66 billion, a P/E ratio of 26.07, a P/E/G ratio of 0.79 and a beta of 0.78. Futu Holdings Limited has a 1-year low of $51.80 and a 1-year high of $130.88.

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.