Virtu Financial LLC Purchases 16,855 Shares of Futu Holdings Limited (NASDAQ:FUTU)

Virtu Financial LLC lifted its stake in Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 241.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,846 shares of the company's stock after acquiring an additional 16,855 shares during the quarter. Virtu Financial LLC's holdings in Futu were worth $2,281,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new position in Futu in the second quarter valued at about $50,000. GAMMA Investing LLC lifted its stake in shares of Futu by 181.5% in the 3rd quarter. GAMMA Investing LLC now owns 594 shares of the company's stock worth $57,000 after purchasing an additional 383 shares during the period. CWM LLC boosted its holdings in shares of 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 during the last quarter. Venturi Wealth Management LLC bought a new stake in Futu during the third quarter valued at approximately $92,000. Finally, SG Americas Securities LLC purchased a new stake in Futu during the second quarter valued at approximately $123,000.

Analyst Ratings Changes

FUTU has been the topic of several analyst reports. Morgan Stanley upgraded shares of Futu from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock 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 boosted their price target for the company from $79.00 to $95.00 in a report on Tuesday, November 19th. Finally, Bank of America raised their price objective on Futu from $80.20 to $90.00 and gave the stock a "buy" rating in a research note on Friday, September 27th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, Futu presently has an average rating of "Moderate Buy" and an average price target of $87.33.

Futu Stock Up 1.5 %

NASDAQ:FUTU traded up $1.30 on Friday, reaching $86.54. 2,312,428 shares of the company's stock traded hands, compared to its average volume of 2,375,172. The stock has a 50-day simple moving average of $93.66 and a 200-day simple moving average of $76.93. Futu Holdings Limited has a 12 month low of $43.61 and a 12 month high of $130.50. The firm has a market cap of $11.92 billion, a PE ratio of 21.21, a P/E/G ratio of 0.88 and a beta of 0.72.

Futu Dividend Announcement

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

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.