Futu Holdings Limited (NASDAQ:FUTU) Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. boosted its stake in Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 183.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 333,401 shares of the company's stock after acquiring an additional 215,840 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.24% of Futu worth $26,669,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew its stake in Futu by 14.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 877 shares of the company's stock valued at $84,000 after acquiring an additional 112 shares during the period. GAMMA Investing LLC grew its stake in Futu by 31.0% in the 4th quarter. GAMMA Investing LLC now owns 778 shares of the company's stock valued at $62,000 after acquiring an additional 184 shares during the period. CIBC Asset Management Inc grew its stake in Futu by 4.3% in the 3rd quarter. CIBC Asset Management Inc now owns 5,403 shares of the company's stock valued at $517,000 after acquiring an additional 222 shares during the period. CWM LLC grew its stake in Futu by 67.7% in 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. Finally, Lifestyle Asset Management Inc. grew its stake in Futu by 6.1% in the 3rd quarter. Lifestyle Asset Management Inc. now owns 5,373 shares of the company's stock valued at $514,000 after acquiring an additional 307 shares during the period.

Futu Trading Up 3.3 %

FUTU stock traded up $3.90 during midday trading on Friday, reaching $121.82. The stock had a trading volume of 5,566,288 shares, compared to its average volume of 2,282,041. The company's fifty day simple moving average is $89.73 and its 200 day simple moving average is $83.56. The company has a market cap of $16.79 billion, a price-to-earnings ratio of 29.86, a price-to-earnings-growth ratio of 0.77 and a beta of 0.76. Futu Holdings Limited has a 52-week low of $49.17 and a 52-week high of $130.50.

Futu Dividend Announcement

The business also recently declared a -- dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 6th were issued a dividend of $2.00 per share. The ex-dividend date was Friday, December 6th.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on FUTU shares. Morgan Stanley raised shares of Futu from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $70.00 to $115.00 in a research note on Monday, November 18th. 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 report on Tuesday, November 19th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $91.40.

About Futu

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.