HighTower Advisors LLC Cuts Stock Holdings in Futu Holdings Limited Sponsored ADR $FUTU

HighTower Advisors LLC cut its stake in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 74.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,637 shares of the company’s stock after selling 27,769 shares during the period. HighTower Advisors LLC’s holdings in Futu were worth $1,676,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. GF Fund Management CO. LTD. boosted its stake in shares of Futu by 13.8% in the 3rd quarter. GF Fund Management CO. LTD. now owns 28,352 shares of the company’s stock valued at $4,931,000 after buying an additional 3,438 shares during the period. Metis Global Partners LLC purchased a new position in Futu in the third quarter worth approximately $203,000. Assetmark Inc. grew its holdings in Futu by 12,600.0% during the 3rd quarter. Assetmark Inc. now owns 635 shares of the company’s stock worth $110,000 after acquiring an additional 630 shares in the last quarter. Public Sector Pension Investment Board increased its position in shares of Futu by 7.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 53,214 shares of the company’s stock valued at $9,254,000 after purchasing an additional 3,700 shares during the last quarter. Finally, Caprock Group LLC purchased a new stake in shares of Futu in the 3rd quarter valued at approximately $213,000.

Futu Stock Performance

NASDAQ FUTU opened at $148.84 on Monday. The firm’s fifty day moving average is $162.99 and its two-hundred day moving average is $171.10. The firm has a market cap of $20.71 billion, a PE ratio of 16.67, a P/E/G ratio of 0.39 and a beta of 0.38. Futu Holdings Limited Sponsored ADR has a one year low of $70.60 and a one year high of $202.53.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on FUTU shares. The Goldman Sachs Group raised shares of Futu from a “neutral” rating to a “buy” rating and set a $213.39 price objective for the company in a research report on Monday, February 2nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Futu in a report on Thursday, January 22nd. Zacks Research raised Futu from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. Finally, Barclays raised their target price on Futu from $232.00 to $236.00 and gave the stock an “overweight” rating in a research report on Thursday, November 20th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $205.06.

About Futu

Futu Holdings Ltd. is a technology-driven brokerage and wealth management company that provides online brokerage services, market data, and investment tools to retail and institutional clients. Headquartered in Hong Kong and listed on the NASDAQ under the ticker FUTU, the company operates digital trading platforms that combine order execution, real-time quotes, news, and research tools to serve active investors and wealth management customers.

The firm’s product suite includes brokerage access to equities, exchange-traded funds and derivatives across major markets, margin financing, initial public offering (IPO) subscription services, wealth management products and discretionary investment solutions.