Sompo Asset Management Co. Ltd. Buys 410 Shares of Futu Holdings Limited (NASDAQ:FUTU)

Sompo Asset Management Co. Ltd. grew its stake in shares of Futu Holdings Limited (NASDAQ:FUTU) by 3.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,360 shares of the company’s stock after acquiring an additional 410 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Futu were worth $1,087,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC grew its position in Futu by 181.5% during the 3rd quarter. GAMMA Investing LLC now owns 594 shares of the company’s stock valued at $57,000 after purchasing an additional 383 shares during the last quarter. CWM LLC grew its holdings in shares of Futu by 67.7% during the third quarter. CWM LLC now owns 743 shares of the company’s stock valued at $71,000 after buying an additional 300 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Futu during the second quarter valued at approximately $50,000. UniSuper Management Pty Ltd raised its holdings in Futu by 100.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 800 shares of the company’s stock worth $43,000 after acquiring an additional 400 shares during the last quarter. Finally, Venturi Wealth Management LLC purchased a new position in Futu in the 3rd quarter worth approximately $92,000.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Citigroup downgraded Futu from a “buy” rating to a “neutral” rating and increased their target price for the company from $79.00 to $95.00 in a research note on Tuesday, November 19th. Morgan Stanley raised Futu from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $70.00 to $115.00 in a research report on Monday, November 18th. Finally, Bank of America boosted their target price on Futu from $80.20 to $90.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $85.07.

Futu Price Performance

FUTU stock opened at $84.22 on Friday. Futu Holdings Limited has a 1 year low of $43.61 and a 1 year high of $130.50. The company has a market cap of $11.60 billion, a P/E ratio of 20.64, a price-to-earnings-growth ratio of 0.26 and a beta of 0.75. The stock’s fifty day moving average price is $92.90 and its 200-day moving average price is $75.66.

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.