Quantinno Capital Management LP Raises Stake in Futu Holdings Limited (NASDAQ:FUTU)

Quantinno Capital Management LP raised its stake in shares of Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 130.9% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 28,134 shares of the company's stock after acquiring an additional 15,949 shares during the period. Quantinno Capital Management LP's holdings in Futu were worth $2,691,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in FUTU. GAMMA Investing LLC increased its position in shares of Futu by 181.5% during the 3rd quarter. GAMMA Investing LLC now owns 594 shares of the company's stock valued at $57,000 after purchasing an additional 383 shares during the last quarter. CWM LLC increased its position in Futu by 67.7% in the third quarter. CWM LLC now owns 743 shares of the company's stock worth $71,000 after buying an additional 300 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Futu in the 2nd quarter worth approximately $50,000. Venturi Wealth Management LLC bought a new stake in Futu during the 3rd quarter worth approximately $92,000. Finally, SG Americas Securities LLC purchased a new position in Futu during the second quarter valued at approximately $123,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Morgan Stanley raised Futu from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $70.00 to $115.00 in a research note on Monday, November 18th. Bank of America lifted their price target on shares of Futu from $80.20 to $90.00 and gave the company a "buy" rating in a report on Friday, September 27th. Finally, Citigroup lowered Futu from a "buy" rating to a "neutral" rating and raised their price objective 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 five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $87.33.

Futu Price Performance

FUTU traded down $11.21 on Tuesday, reaching $86.87. 3,592,206 shares of the stock were exchanged, compared to its average volume of 2,372,048. The company's 50-day moving average price is $96.19 and its 200 day moving average price is $76.64. The firm has a market capitalization of $11.97 billion, a PE ratio of 21.93, a PEG ratio of 0.85 and a beta of 0.72. Futu Holdings Limited has a fifty-two week low of $43.61 and a fifty-two week high of $130.50.

Futu Dividend Announcement

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