abrdn plc Has $5.25 Million Stock Position in Futu Holdings Limited (NASDAQ:FUTU)

abrdn plc increased its stake in shares of Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 527.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,170 shares of the company's stock after buying an additional 54,776 shares during the period. abrdn plc's holdings in Futu were worth $5,246,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FUTU. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Futu by 502.2% during 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 last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Futu during the 3rd quarter worth about $39,943,000. Veritas Asset Management LLP bought a new stake in Futu during the 3rd quarter worth about $39,547,000. Yong Rong HK Asset Management Ltd raised its holdings in Futu by 2,525.3% during the 3rd quarter. Yong Rong HK Asset Management Ltd now owns 393,800 shares of the company's stock worth $37,667,000 after purchasing an additional 378,800 shares during the last quarter. Finally, Hhlr Advisors LTD. raised its holdings in Futu by 46.8% during 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 last quarter.

Futu Trading Up 1.8 %

Shares of FUTU stock traded up $2.11 on Thursday, reaching $117.92. The company had a trading volume of 3,665,881 shares, compared to its average volume of 2,512,739. The stock has a market cap of $16.25 billion, a PE ratio of 28.90, a PEG ratio of 0.77 and a beta of 0.76. The company has a 50-day moving average of $88.33 and a 200-day moving average of $82.89. Futu Holdings Limited has a 12 month low of $48.90 and a 12 month high of $130.50.

Futu Announces Dividend

The firm also recently disclosed a -- dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 6th were given a $2.00 dividend. The ex-dividend date of this dividend was Friday, December 6th.

Analysts Set New Price Targets

Several brokerages have weighed in on FUTU. Morgan Stanley raised Futu from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $70.00 to $115.00 in a report on Monday, November 18th. Citigroup cut 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. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Futu currently has a consensus rating of "Moderate Buy" and a consensus target price of $91.40.

About Futu

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.