China Universal Asset Management Co. Ltd. Has $123,000 Position in Futu Holdings Limited (NASDAQ:FUTU)

China Universal Asset Management Co. Ltd. decreased its stake in Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 80.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,414 shares of the company's stock after selling 5,880 shares during the period. China Universal Asset Management Co. Ltd.'s holdings in Futu were worth $123,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FUTU. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of 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 valued at $53,444,000 after purchasing an additional 465,961 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Futu during the 3rd quarter worth about $39,943,000. Veritas Asset Management LLP purchased a new position in shares of Futu in the third quarter worth approximately $39,547,000. Yong Rong HK Asset Management Ltd lifted its position in shares of 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 acquiring an additional 378,800 shares in the last quarter. Finally, Hhlr Advisors LTD. boosted its position in shares of Futu by 46.8% in the third quarter. Hhlr Advisors LTD. now owns 1,051,089 shares of the company's stock worth $100,537,000 after buying an additional 335,000 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Morgan Stanley upgraded shares of Futu from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $70.00 to $115.00 in a report on Monday, November 18th. Citigroup downgraded shares of Futu from a "buy" rating to a "neutral" rating and upped their price target for the stock from $79.00 to $95.00 in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $91.40.

Futu Price Performance

Shares of FUTU stock traded up $8.48 during trading on Friday, reaching $105.64. The company had a trading volume of 5,039,692 shares, compared to its average volume of 2,367,160. The company has a market capitalization of $14.56 billion, a PE ratio of 25.89, a PEG ratio of 0.76 and a beta of 0.76. The firm's 50 day simple moving average is $86.57 and its two-hundred day simple moving average is $81.43. Futu Holdings Limited has a one year low of $47.18 and a one year high of $130.50.

Futu Announces Dividend

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

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.