National Bank of Canada FI Sells 114,209 Shares of Futu Holdings Limited (NASDAQ:FUTU)

National Bank of Canada FI lessened its position in Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 39.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 178,600 shares of the company's stock after selling 114,209 shares during the period. National Bank of Canada FI owned about 0.13% of Futu worth $17,083,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of FUTU. Allspring Global Investments Holdings LLC acquired a new position in Futu during the second quarter worth approximately $50,000. GAMMA Investing LLC raised its stake in Futu by 181.5% in the 3rd quarter. GAMMA Investing LLC now owns 594 shares of the company's stock valued at $57,000 after acquiring an additional 383 shares during the period. CWM LLC lifted its holdings in Futu by 67.7% during the 3rd quarter. CWM LLC now owns 743 shares of the company's stock valued at $71,000 after purchasing an additional 300 shares during the last quarter. Venturi Wealth Management LLC bought a new position in Futu during the third quarter worth $92,000. Finally, SG Americas Securities LLC acquired a new position in shares of Futu in the second quarter valued at $123,000.

Analyst Ratings Changes

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

Futu Trading Down 11.3 %

FUTU stock traded down $11.10 during mid-day trading on Tuesday, hitting $86.98. The stock had a trading volume of 4,212,710 shares, compared to its average volume of 2,375,053. The firm has a fifty day simple moving average of $96.19 and a 200 day simple moving average of $76.64. Futu Holdings Limited has a 52 week low of $43.61 and a 52 week high of $130.50. The firm has a market capitalization of $11.99 billion, a P/E ratio of 21.93, a P/E/G ratio of 0.85 and a beta of 0.72.

Futu Announces Dividend

The firm also recently declared a -- dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 6th will be paid a $2.00 dividend. 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.