WT Asset Management Ltd Purchases 134,977 Shares of Futu Holdings Limited (NASDAQ:FUTU)

WT Asset Management Ltd increased its stake in shares of Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 899.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 149,977 shares of the company's stock after buying an additional 134,977 shares during the quarter. Futu accounts for 1.3% of WT Asset Management Ltd's investment portfolio, making the stock its 17th largest holding. WT Asset Management Ltd owned 0.11% of Futu worth $11,997,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of FUTU. Aspex Management HK Ltd boosted its holdings in Futu by 2.4% during the third quarter. Aspex Management HK Ltd now owns 4,553,023 shares of the company's stock worth $435,497,000 after purchasing an additional 108,219 shares during the last quarter. Hhlr Advisors LTD. grew its holdings in shares of Futu by 46.8% in the third quarter. Hhlr Advisors LTD. now owns 1,051,089 shares of the company's stock valued at $100,537,000 after acquiring an additional 335,000 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Futu by 502.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 558,746 shares of the company's stock valued at $53,444,000 after acquiring an additional 465,961 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Futu by 3.3% during the third quarter. Geode Capital Management LLC now owns 545,949 shares of the company's stock worth $51,475,000 after acquiring an additional 17,513 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Futu in the third quarter worth $39,943,000.

Wall Street Analyst Weigh In

FUTU has been the subject of a number of research analyst reports. Morgan Stanley upgraded shares of Futu from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $70.00 to $115.00 in a report on Monday, November 18th. Citigroup lowered Futu from a "buy" rating to a "neutral" rating and increased their price objective for the company from $79.00 to $95.00 in a report on Tuesday, November 19th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Futu currently has a consensus rating of "Moderate Buy" and a consensus price target of $91.40.

Futu Trading Up 8.7 %

Shares of FUTU stock traded up $8.48 during trading hours on Friday, hitting $105.64. 5,039,692 shares of the company's stock were exchanged, compared to its average volume of 2,282,041. The company has a market capitalization of $14.56 billion, a PE ratio of 25.89, a PEG ratio of 0.77 and a beta of 0.76. The business's 50 day simple moving average is $86.94 and its 200-day simple moving average is $81.73. Futu Holdings Limited has a 12-month low of $47.18 and a 12-month high of $130.50.

Futu Dividend Announcement

The company also recently announced 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.

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.