UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 465,961 Shares of Futu Holdings Limited (NASDAQ:FUTU)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 502.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 558,746 shares of the company's stock after buying an additional 465,961 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.41% of Futu worth $53,444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its holdings in Futu by 14.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 877 shares of the company's stock worth $84,000 after purchasing an additional 112 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in Futu by 4.3% during the 3rd quarter. CIBC Asset Management Inc now owns 5,403 shares of the company's stock worth $517,000 after acquiring an additional 222 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in Futu by 3.2% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 7,346 shares of the company's stock worth $394,000 after acquiring an additional 230 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Futu by 8.4% in the 2nd quarter. Signaturefd LLC now owns 3,205 shares of the company's stock worth $210,000 after buying an additional 247 shares during the last quarter. Finally, CWM LLC boosted its holdings in shares of Futu by 67.7% in the 3rd quarter. CWM LLC now owns 743 shares of the company's stock worth $71,000 after buying an additional 300 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Morgan Stanley raised shares of 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 report on Monday, November 18th. Bank of America boosted their price target on shares of Futu from $80.20 to $90.00 and gave the stock a "buy" rating in a report on Friday, September 27th. Finally, Citigroup downgraded shares of Futu from a "buy" rating to a "neutral" rating and boosted their price target for the stock from $79.00 to $95.00 in a report on Tuesday, November 19th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $87.33.

Futu Stock Down 2.3 %

Futu stock traded down $2.01 during midday trading on Wednesday, reaching $86.21. The stock had a trading volume of 1,129,663 shares, compared to its average volume of 2,342,864. The firm's 50-day moving average price is $95.86 and its 200 day moving average price is $76.30. Futu Holdings Limited has a 12 month low of $43.61 and a 12 month high of $130.50. The firm has a market capitalization of $11.88 billion, a PE ratio of 21.62, a P/E/G ratio of 0.87 and a beta of 0.72.

Futu Announces Dividend

The firm also recently disclosed a -- dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 6th will be paid a dividend of $2.00 per share. The ex-dividend date is Friday, December 6th.

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.