Marshall Wace LLP Sells 1,075,877 Shares of Futu Holdings Limited (NASDAQ:FUTU)

Marshall Wace LLP decreased its position in Futu Holdings Limited (NASDAQ:FUTU) by 67.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 518,051 shares of the company’s stock after selling 1,075,877 shares during the quarter. Marshall Wace LLP’s holdings in Futu were worth $41,439,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. NewEdge Advisors LLC grew its holdings in Futu by 17,800.0% in the 4th quarter. NewEdge Advisors LLC now owns 3,043 shares of the company’s stock valued at $243,000 after buying an additional 3,026 shares in the last quarter. Jump Financial LLC boosted its position in shares of Futu by 798.0% in the fourth quarter. Jump Financial LLC now owns 44,902 shares of the company’s stock valued at $3,592,000 after acquiring an additional 39,902 shares during the period. Barclays PLC grew its stake in shares of Futu by 87.2% in the fourth quarter. Barclays PLC now owns 189,188 shares of the company’s stock valued at $15,132,000 after acquiring an additional 88,125 shares in the last quarter. Townsquare Capital LLC bought a new position in Futu during the fourth quarter worth about $439,000. Finally, Raymond James Financial Inc. acquired a new stake in Futu in the 4th quarter worth about $786,000.

Futu Trading Down 1.1 %

Shares of NASDAQ:FUTU opened at $79.65 on Friday. The stock has a market capitalization of $10.98 billion, a PE ratio of 19.52, a PEG ratio of 0.79 and a beta of 0.67. The firm has a 50 day moving average of $103.99 and a 200-day moving average of $96.11. Futu Holdings Limited has a 12 month low of $51.80 and a 12 month high of $130.88.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Futu from $160.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. UBS Group increased their price target on Futu from $130.00 to $136.00 and gave the stock a “buy” rating in a research report on Monday, March 17th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $121.20.

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.