Daiwa Securities Group Inc. Has $411,000 Holdings in Futu Holdings Limited (NASDAQ:FUTU)

Daiwa Securities Group Inc. lessened its holdings in shares of Futu Holdings Limited (NASDAQ:FUTU) by 8.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 4,300 shares of the company’s stock after selling 400 shares during the period. Daiwa Securities Group Inc.’s holdings in Futu were worth $411,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Marshall Wace LLP increased its stake in Futu by 71.5% in 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 period. E Fund Management Co. Ltd. acquired a new position in shares of Futu in the second quarter worth $31,490,000. Veritas Asset Management LLP acquired a new position in shares of Futu in the third quarter worth $39,547,000. Yong Rong HK Asset Management Ltd raised its holdings in shares of Futu by 2,525.3% during the third quarter. Yong Rong HK Asset Management Ltd now owns 393,800 shares of the company’s stock worth $37,667,000 after acquiring an additional 378,800 shares in the last quarter. Finally, National Bank of Canada FI grew its stake in Futu by 3,253,333.3% in the second quarter. National Bank of Canada FI now owns 292,809 shares of the company’s stock valued at $18,790,000 after purchasing an additional 292,800 shares in the last quarter.

Analysts Set New Price Targets

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

Futu Stock Performance

FUTU opened at $87.23 on Friday. Futu Holdings Limited has a twelve month low of $43.61 and a twelve month high of $130.50. The business has a 50 day moving average price of $95.24 and a 200 day moving average price of $76.18. The firm has a market cap of $12.02 billion, a P/E ratio of 21.38, a price-to-earnings-growth ratio of 0.88 and a beta of 0.75.

Futu Dividend Announcement

The company also recently disclosed a — dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 6th will be issued a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, December 6th.

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.