Futu Holdings Limited (NASDAQ:FUTU) Shares Purchased by Citigroup Inc.

Citigroup Inc. lifted its stake in shares of Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 31.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 215,419 shares of the company's stock after buying an additional 51,765 shares during the quarter. Citigroup Inc. owned approximately 0.16% of Futu worth $20,605,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Russell Investments Group Ltd. raised its stake in shares of Futu by 3.7% in the 1st quarter. Russell Investments Group Ltd. now owns 13,422 shares of the company's stock valued at $727,000 after purchasing an additional 484 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in Futu by 34.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 42,306 shares of the company's stock worth $2,293,000 after purchasing an additional 10,900 shares during the period. Toronto Dominion Bank increased its stake in Futu by 38.9% during the first quarter. Toronto Dominion Bank now owns 4,995 shares of the company's stock valued at $270,000 after purchasing an additional 1,400 shares during the last quarter. Lazard Asset Management LLC raised its holdings in shares of Futu by 23.0% during the first quarter. Lazard Asset Management LLC now owns 14,624 shares of the company's stock worth $791,000 after purchasing an additional 2,739 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Futu by 19.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,187 shares of the company's stock worth $552,000 after purchasing an additional 1,687 shares during the period.

Futu Stock Performance

Shares of FUTU traded up $2.96 during mid-day trading on Wednesday, reaching $86.72. 951,263 shares of the company's stock traded hands, compared to its average volume of 2,353,880. Futu Holdings Limited has a 12 month low of $43.61 and a 12 month high of $130.50. The stock has a market capitalization of $11.95 billion, a P/E ratio of 20.53, a price-to-earnings-growth ratio of 0.86 and a beta of 0.75. The business's 50-day moving average price is $93.90 and its 200-day moving average price is $75.91.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Bank of America boosted their price objective on shares of Futu from $80.20 to $90.00 and gave the company a "buy" rating in a research report on Friday, September 27th. Citigroup cut Futu from a "buy" rating to a "neutral" rating and increased their price target for the stock from $79.00 to $95.00 in a research report on Tuesday, November 19th. Finally, Morgan Stanley upgraded Futu from an "equal weight" rating to an "overweight" rating and boosted 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 five have given a buy rating to the stock. Based on data from MarketBeat, Futu has a consensus rating of "Moderate Buy" and an average target price of $87.33.

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.