65,000 Shares in Futu Holdings Limited (NASDAQ:FUTU) Bought by Monolith Management Ltd

Monolith Management Ltd purchased a new position in Futu Holdings Limited (NASDAQ:FUTU - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 65,000 shares of the company's stock, valued at approximately $6,217,000. Futu comprises 3.6% of Monolith Management Ltd's holdings, making the stock its 10th biggest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of FUTU. APG Asset Management N.V. bought a new position in Futu in the 2nd quarter valued at $496,000. Valliance Asset Management Ltd acquired a new stake in shares of Futu in the third quarter valued at about $956,000. Sei Investments Co. raised its stake in shares of Futu by 261.3% during the 2nd quarter. Sei Investments Co. now owns 25,351 shares of the company's stock worth $1,663,000 after purchasing an additional 18,334 shares in the last quarter. Seven Eight Capital LP bought a new stake in shares of Futu during the 2nd quarter worth about $1,956,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake 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 valued at $11,245,000 after acquiring an additional 15,127 shares during the last quarter.

Futu Stock Performance

NASDAQ FUTU traded down $0.64 during mid-day trading on Monday, reaching $83.58. 970,895 shares of the stock were exchanged, compared to its average volume of 2,360,420. The business's 50 day moving average is $92.90 and its 200-day moving average is $75.71. Futu Holdings Limited has a 1 year low of $43.61 and a 1 year high of $130.50. The company has a market capitalization of $11.52 billion, a P/E ratio of 20.64, a P/E/G ratio of 0.86 and a beta of 0.75.

Wall Street Analyst Weigh In

FUTU has been the subject of several analyst reports. Morgan Stanley upgraded shares of Futu from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $70.00 to $115.00 in a report on Monday, November 18th. Bank of America boosted their price objective on Futu from $80.20 to $90.00 and gave the company a "buy" rating in a research note on Friday, September 27th. Finally, Citigroup lowered Futu from a "buy" rating to a "neutral" rating and boosted their price objective for the company from $79.00 to $95.00 in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Futu has a consensus rating of "Moderate Buy" and a consensus price target of $87.33.

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.