2,901 Shares in Futu Holdings Limited (NASDAQ:FUTU) Bought by HighTower Advisors LLC

HighTower Advisors LLC purchased a new stake in Futu Holdings Limited (NASDAQ:FUTU) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 2,901 shares of the company’s stock, valued at approximately $277,000.

Several other institutional investors have also added to or reduced their stakes in the business. Aspex Management HK Ltd raised its holdings in shares of 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. Marshall Wace LLP raised its stake in shares of Futu by 71.5% during the 2nd quarter. Marshall Wace LLP now owns 1,521,314 shares of the company’s stock valued at $99,813,000 after buying an additional 634,369 shares during the last quarter. Hhlr Advisors LTD. lifted its holdings in shares of Futu by 46.8% in the 3rd quarter. Hhlr Advisors LTD. now owns 1,051,089 shares of the company’s stock valued at $100,537,000 after buying an additional 335,000 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Futu by 502.2% in 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 worth $53,444,000 after buying an additional 465,961 shares during the last quarter. Finally, E Fund Management Co. Ltd. purchased a new stake in shares of Futu in the second quarter worth about $31,490,000.

Futu Stock Performance

Shares of NASDAQ FUTU opened at $86.19 on Tuesday. The stock’s 50-day simple moving average is $90.64 and its 200-day simple moving average is $77.26. The firm has a market capitalization of $11.88 billion, a PE ratio of 21.13, a price-to-earnings-growth ratio of 0.88 and a beta of 0.72. Futu Holdings Limited has a fifty-two week low of $43.61 and a fifty-two week high of $130.50.

Futu Announces Dividend

The firm also recently announced 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 of this dividend is Friday, December 6th.

Analysts Set New Price Targets

Several research firms recently issued reports on FUTU. Bank of America boosted their target price on shares of Futu from $80.20 to $90.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Citigroup downgraded shares of Futu from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $79.00 to $95.00 in a research report on Tuesday, November 19th. Finally, Morgan Stanley raised shares of Futu from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $70.00 to $115.00 in a research note on Monday, November 18th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Futu has a consensus rating of “Moderate Buy” and an average target price of $87.33.

Futu Company 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.