Veritas Asset Management LLP decreased its position in shares of Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 27.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 301,644 shares of the company's stock after selling 111,815 shares during the period. Futu accounts for 0.2% of Veritas Asset Management LLP's investment portfolio, making the stock its 19th biggest holding. Veritas Asset Management LLP owned approximately 0.22% of Futu worth $24,129,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. CWM LLC increased its position in Futu by 67.7% during the third quarter. CWM LLC now owns 743 shares of the company's stock worth $71,000 after acquiring an additional 300 shares during the period. GAMMA Investing LLC raised its position in shares of Futu by 31.0% during the fourth quarter. GAMMA Investing LLC now owns 778 shares of the company's stock valued at $62,000 after buying an additional 184 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Futu by 14.6% during the third 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. Venturi Wealth Management LLC bought a new stake in shares of Futu in the 3rd quarter worth approximately $92,000. Finally, Janus Henderson Group PLC bought a new stake in shares of Futu during the third quarter valued at approximately $201,000.
Futu Trading Down 2.0 %
Shares of Futu stock traded down $2.24 during mid-day trading on Friday, reaching $109.19. 1,680,265 shares of the stock were exchanged, compared to its average volume of 2,776,538. The company has a market cap of $15.05 billion, a price-to-earnings ratio of 26.76, a price-to-earnings-growth ratio of 0.79 and a beta of 0.76. Futu Holdings Limited has a fifty-two week low of $51.80 and a fifty-two week high of $130.88. The firm has a 50-day simple moving average of $95.14 and a 200 day simple moving average of $87.17.
Analyst Ratings Changes
Several brokerages have issued reports on FUTU. Morgan Stanley raised shares of 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 report on Monday, November 18th. Citigroup cut shares of Futu from a "buy" rating to a "neutral" rating and raised their price target for the stock from $79.00 to $95.00 in a research note 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, Futu currently has a consensus rating of "Moderate Buy" and an average target price of $91.40.
View Our Latest Stock Analysis on FUTU
About Futu
(
Free Report)
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.
See Also
Before you consider Futu, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Futu wasn't on the list.
While Futu currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
