Blue Trust Inc. lessened its stake in Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 86.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,226 shares of the company's stock after selling 7,663 shares during the period. Blue Trust Inc.'s holdings in Futu were worth $98,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in FUTU. Valliance Asset Management Ltd bought a new stake in shares of Futu in the 3rd quarter valued at $956,000. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Futu by 14.8% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 117,561 shares of the company's stock worth $11,245,000 after acquiring an additional 15,127 shares in the last quarter. Y Intercept Hong Kong Ltd raised its position in shares of Futu by 136.9% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 42,149 shares of the company's stock worth $4,032,000 after acquiring an additional 24,355 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Futu by 127.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 52,530 shares of the company's stock worth $5,024,000 after acquiring an additional 29,401 shares in the last quarter. Finally, Natixis Advisors LLC bought a new position in shares of Futu in the 3rd quarter worth about $1,100,000.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on the company. 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 report on Tuesday, November 19th. Morgan Stanley raised shares of Futu from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $70.00 to $115.00 in a research note on Monday, November 18th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $91.40.
Read Our Latest Research Report on Futu
Futu Stock Down 9.2 %
FUTU stock traded down $11.12 during midday trading on Monday, reaching $110.28. 4,205,530 shares of the company's stock traded hands, compared to its average volume of 2,747,294. The company has a market cap of $15.20 billion, a price-to-earnings ratio of 27.04, a P/E/G ratio of 0.79 and a beta of 0.76. The firm's fifty day moving average price is $93.05 and its 200-day moving average price is $86.12. Futu Holdings Limited has a 52 week low of $50.07 and a 52 week high of $130.88.
About Futu
(
Free Report)
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.
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