Futu Holdings Limited (NASDAQ:FUTU) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC reduced its position in Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 39.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,946 shares of the company's stock after selling 3,895 shares during the quarter. Janney Montgomery Scott LLC's holdings in Futu were worth $476,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in FUTU. GAMMA Investing LLC lifted its stake in shares of Futu by 181.5% during the third quarter. GAMMA Investing LLC now owns 594 shares of the company's stock worth $57,000 after buying an additional 383 shares during the period. CWM LLC lifted its stake in shares of Futu by 67.7% during the third quarter. CWM LLC now owns 743 shares of the company's stock worth $71,000 after buying an additional 300 shares during the period. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Futu during the third quarter worth $1,511,000. Creative Planning lifted its stake in shares of Futu by 6.3% during the third quarter. Creative Planning now owns 14,091 shares of the company's stock worth $1,348,000 after buying an additional 838 shares during the period. Finally, Harbour Capital Advisors LLC acquired a new stake in shares of Futu during the third quarter worth $356,000.

Futu Trading Up 1.8 %

FUTU traded up $2.11 on Thursday, reaching $117.92. The stock had a trading volume of 3,665,881 shares, compared to its average volume of 2,512,739. Futu Holdings Limited has a 12-month low of $48.90 and a 12-month high of $130.50. The business's 50-day moving average price is $88.33 and its two-hundred day moving average price is $82.89. The company has a market cap of $16.25 billion, a P/E ratio of 28.90, a price-to-earnings-growth ratio of 0.77 and a beta of 0.76.

Futu Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Morgan Stanley upgraded shares of Futu from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $70.00 to $115.00 in a research note on Monday, November 18th. Citigroup downgraded shares of Futu from a "buy" rating to a "neutral" rating and boosted their target price for the company from $79.00 to $95.00 in a research report 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's stock. Based on data from MarketBeat, Futu presently has an average rating of "Moderate Buy" and an average target price of $91.40.

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.