Geode Capital Management LLC Buys 17,513 Shares of Futu Holdings Limited (NASDAQ:FUTU)

Geode Capital Management LLC raised its stake in Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 3.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 545,949 shares of the company's stock after acquiring an additional 17,513 shares during the quarter. Geode Capital Management LLC owned about 0.40% of Futu worth $51,475,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC boosted its position in shares of Futu by 14.6% in the third 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 boosted 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 purchasing an additional 222 shares during the period. Signaturefd LLC grew its position in shares of Futu by 8.4% during the 2nd quarter. Signaturefd LLC now owns 3,205 shares of the company's stock worth $210,000 after purchasing an additional 247 shares in the last quarter. CWM LLC grew its position in shares of Futu by 67.7% during the 3rd quarter. CWM LLC now owns 743 shares of the company's stock worth $71,000 after purchasing an additional 300 shares in the last quarter. Finally, Lifestyle Asset Management Inc. increased its holdings in shares of Futu by 6.1% during the third quarter. Lifestyle Asset Management Inc. now owns 5,373 shares of the company's stock worth $514,000 after purchasing an additional 307 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Citigroup downgraded 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. Morgan Stanley upgraded Futu from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $70.00 to $115.00 in a research report on Monday, November 18th. Finally, Bank of America raised their price target on Futu from $80.20 to $90.00 and gave the stock a "buy" rating in a research 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 company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $87.33.

Futu Stock Up 2.6 %

Shares of FUTU traded up $2.15 during midday trading on Monday, hitting $86.19. The company's stock had a trading volume of 1,212,184 shares, compared to its average volume of 2,355,654. Futu Holdings Limited has a one year low of $43.61 and a one year high of $130.50. The stock has a market capitalization of $11.88 billion, a price-to-earnings ratio of 21.13, a price-to-earnings-growth ratio of 0.88 and a beta of 0.72. The company's fifty day simple moving average is $90.64 and its two-hundred day simple moving average is $77.26.

Futu Announces Dividend

The firm also recently announced a -- dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 6th will be given a $2.00 dividend. The ex-dividend date is 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.