In a recent filing with the US Securities and Exchange Commission (SEC), abrdn plc announced that its position in Futu Holdings Limited has increased by a staggering 101.5% in Q4 2021. The institutional investor reported that it had purchased an additional 7,768 shares in the NASDAQ-listed trading platform provider, raising its holdings to 15,422 shares. This move shows confidence in Futu’s operations and financial strength following impressive earnings reports and growth prospects.
At the end of Q4 FY21, abrdn plc’s holdings in Futu were estimated to be worth $627,000. However, this sum is susceptible to fluctuations of market forces that drive share prices up or down. As such, abrdn plc’s management team monitors their portfolio regularly to identify investment opportunities that meet their strategic goals while minimizing risks.
Futu has also caught the attention of other hedge funds as evidenced by HoldingsChannel.com’s latest filings and insider trades data. Being open-ended funds with flexible investment strategies, they can buy and sell securities at any time based on market trends and analysis.
The growing interest in Futu by hedge funds like abrdn plc could be due to its bullish performance on Wall Street despite mixed opinions from research analysts. While Credit Suisse Group upgraded their rating from “neutral” to “outperform,” JPMorgan Chase & Co downgraded Futu from “overweight” to “neutral.” Conversely, Bank of America raised their price target for the stock from $27.00 to $32.15 whilst Morgan Stanley downgraded it from “equal weight” to “underweight.”
Despite these varying opinion pressures online information platform Bloomberg.com reflects an overall current consensus amongst investment analysts recommending a hold rating for the stock with a fair value at $46.18 per share.
The increase in holdings by abrdn plc signals a promising outlook for Futu as an emerging player in the fintech market. With institutional investors and hedge funds showing an increasing level of interest, Futu’s stock is poised to undergo significant growth as it builds momentum towards its ultimate goal of becoming a market leader in its industry. Time will tell if their bullish outlook plays out.
Institutional Investors and Hedge Funds Show Interest in Futu Holdings Ltd.’s Advanced Technology and Digital Financial Services
Institutional investors and hedge funds have been actively investing in Futu Holdings Ltd., a Hong Kong-based advanced technology company providing digital financial services. Great West Life Assurance Co. Can purchased a new stake worth $1,138,000 while Bridgefront Capital LLC bought one worth $212,000 during the third quarter alone. Meanwhile, Quaero Capital S.A. invested almost $2 million in the company during the fourth quarter.
Toronto Dominion Bank also increased its holdings with an acquisition of 1,476 additional shares during the last quarter for a total of 7,163 shares worth $267,000. Lastly, NINE MASTS CAPITAL Ltd joined the roster of institutional investors that have acquired Futu’s stock by purchasing a new position worth approximately $1.3 million.
As of now, these institutional investors collectively own 19.92% of Futu’s stock which has opened at $37.96 on Friday. Despite having experienced a high of $72.20 and low of $28.00 over the last twelve months, the firm currently holds a market capitalization value of around $5.71 billion.
Futu Holdings Ltd.’s business lies in its provision of fully digitalized financial services through its proprietary platforms such as Futubull and moomoo which allow investors to trade securities and invest in fund products.
Founded by Leaf Hua Li back in December 2007 and headquartered in Hong Kong, it seems that there is no stopping this advanced technology company as more institutional investors continue to bet on its success in the industry’s unique landscape – with heavy involvement from Wall Street firms – where countries like China are imposing ever-increasing regulations regarding IPOs at home and restricting expansion abroad due to geopolitical tension.