Futu Holdings Limited (NASDAQ:FUTU) Shares Bought by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd increased its position in shares of Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 228.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 307,034 shares of the company's stock after acquiring an additional 213,549 shares during the period. Futu comprises 2.0% of Point72 Hong Kong Ltd's holdings, making the stock its 6th largest holding. Point72 Hong Kong Ltd owned approximately 0.22% of Futu worth $29,368,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings 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 last quarter. CWM LLC lifted its position in shares of Futu by 67.7% during 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. Allspring Global Investments Holdings LLC purchased a new stake in shares of Futu during the 2nd quarter worth about $50,000. Venturi Wealth Management LLC acquired a new stake in Futu in the third quarter worth $92,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Futu in the second quarter valued at $123,000.

Wall Street Analyst Weigh In

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

Futu Trading Up 1.0 %

Shares of FUTU traded up $0.90 on Friday, reaching $87.23. The company's stock had a trading volume of 1,006,300 shares, compared to its average volume of 3,020,812. The stock has a market capitalization of $12.02 billion, a PE ratio of 21.38, a PEG ratio of 0.89 and a beta of 0.75. Futu Holdings Limited has a twelve month low of $43.61 and a twelve month high of $130.50. The firm has a fifty day moving average of $95.24 and a 200-day moving average of $76.18.

Futu Announces Dividend

The business also recently announced a -- dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 6th will be given 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.