Futu Holdings Limited (NASDAQ:FUTU) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC reduced its position in Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 88.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 5,558 shares of the company's stock after selling 43,465 shares during the period. Intech Investment Management LLC's holdings in Futu were worth $532,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its holdings in Futu by 14.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 877 shares of the company's stock valued at $84,000 after acquiring an additional 112 shares during the period. CIBC Asset Management Inc raised its holdings in Futu by 4.3% in the 3rd quarter. CIBC Asset Management Inc now owns 5,403 shares of the company's stock valued at $517,000 after acquiring an additional 222 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in Futu by 3.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 7,346 shares of the company's stock valued at $394,000 after acquiring an additional 230 shares during the period. Signaturefd LLC raised its holdings in Futu by 8.4% in the 2nd quarter. Signaturefd LLC now owns 3,205 shares of the company's stock valued at $210,000 after acquiring an additional 247 shares during the period. Finally, CWM LLC raised its holdings in Futu by 67.7% in the 3rd quarter. CWM LLC now owns 743 shares of the company's stock valued at $71,000 after acquiring an additional 300 shares during the period.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Citigroup cut shares of Futu from a "buy" rating to a "neutral" rating and raised their target price 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 raised their target price for the stock from $70.00 to $115.00 in a report on Monday, November 18th. Finally, Bank of America raised their target price on shares of Futu from $80.20 to $90.00 and gave the stock a "buy" rating in a report on Friday, September 27th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Futu has an average rating of "Moderate Buy" and an average price target of $87.33.

Futu Price Performance

Shares of FUTU traded down $1.91 on Monday, reaching $85.32. The company's stock had a trading volume of 1,482,372 shares, compared to its average volume of 2,350,421. 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 $11.76 billion, a P/E ratio of 20.94, a PEG ratio of 0.89 and a beta of 0.75. The stock's 50 day simple moving average is $95.24 and its two-hundred day simple moving average is $76.19.

Futu Announces Dividend

The company also recently disclosed a -- dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 6th will be issued a dividend of $2.00 per share. The ex-dividend date is Friday, December 6th.

Futu Company 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.