Futu Holdings Limited (NASDAQ:FUTU) Holdings Cut by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd reduced its stake in Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 46.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,195 shares of the company's stock after selling 78,160 shares during the period. AustralianSuper Pty Ltd owned approximately 0.07% of Futu worth $7,295,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Futu by 502.2% in 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 valued at $53,444,000 after buying an additional 465,961 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Futu in the 3rd quarter valued at about $39,943,000. Veritas Asset Management LLP purchased a new position in Futu in the 3rd quarter valued at about $39,547,000. Yong Rong HK Asset Management Ltd boosted its position in Futu by 2,525.3% in the 3rd quarter. Yong Rong HK Asset Management Ltd now owns 393,800 shares of the company's stock valued at $37,667,000 after buying an additional 378,800 shares during the last quarter. Finally, Hhlr Advisors LTD. boosted its position in Futu by 46.8% in the 3rd quarter. Hhlr Advisors LTD. now owns 1,051,089 shares of the company's stock valued at $100,537,000 after buying an additional 335,000 shares during the last quarter.

Futu Trading Down 1.8 %

NASDAQ FUTU traded down $2.20 during trading hours on Wednesday, reaching $121.36. The company's stock had a trading volume of 1,565,011 shares, compared to its average volume of 2,610,730. The business has a 50-day simple moving average of $90.93 and a 200 day simple moving average of $84.77. Futu Holdings Limited has a 52 week low of $49.17 and a 52 week high of $130.50. The stock has a market cap of $16.72 billion, a PE ratio of 29.75, a PEG ratio of 0.82 and a beta of 0.76.

Futu Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on FUTU shares. Citigroup cut shares of Futu from a "buy" rating to a "neutral" rating and upped their price objective for the company from $79.00 to $95.00 in a research report on Tuesday, November 19th. Morgan Stanley raised shares of Futu from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $70.00 to $115.00 in a research report on Monday, November 18th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target 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.