XTX Topco Ltd Sells 10,205 Shares of Futu Holdings Limited (NASDAQ:FUTU)

XTX Topco Ltd lowered its holdings in Futu Holdings Limited (NASDAQ:FUTU) by 44.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,501 shares of the company’s stock after selling 10,205 shares during the period. XTX Topco Ltd’s holdings in Futu were worth $648,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Wells Fargo & Company MN lifted its stake in shares of Futu by 102.4% during the 4th quarter. Wells Fargo & Company MN now owns 923 shares of the company’s stock worth $38,000 after buying an additional 467 shares during the last quarter. CoreCap Advisors LLC acquired a new stake in Futu in the 4th quarter worth about $76,000. Tobam acquired a new stake in Futu in the 1st quarter worth about $78,000. OLD Mission Capital LLC bought a new position in Futu in the 4th quarter valued at about $83,000. Finally, Tower Research Capital LLC TRC increased its holdings in Futu by 42.4% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,739 shares of the company’s stock valued at $90,000 after buying an additional 518 shares during the period. Institutional investors own 20.75% of the company’s stock.

Futu Stock Down 3.4 %

Futu stock opened at $57.95 on Monday. Futu Holdings Limited has a 12-month low of $28.00 and a 12-month high of $72.20. The firm’s fifty day moving average is $51.70 and its 200 day moving average is $46.76. The company has a market capitalization of $8.71 billion, a PE ratio of 15.88, a PEG ratio of 0.97 and a beta of 0.86.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. TheStreet lowered shares of Futu from a “b-” rating to a “c+” rating in a report on Friday, July 7th. Morgan Stanley lowered shares of Futu from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $44.00 to $34.00 in a report on Thursday, May 18th. Citigroup lifted their price target on shares of Futu from $62.90 to $68.00 and gave the company a “buy” rating in a report on Friday, August 25th. Credit Suisse Group raised shares of Futu from a “neutral” rating to an “outperform” rating and set a $49.00 target price on the stock in a report on Thursday, May 25th. Finally, Bank of America raised shares of Futu from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $32.15 to $62.80 in a report on Monday, August 28th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $51.11.

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.