HighTower Advisors LLC Acquires New Shares in Futu Holdings Limited (NASDAQ:FUTU)

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

Other institutional investors also recently bought and sold shares of the company. Aspex Management HK Ltd boosted its position in shares of Futu by 2.4% in the 3rd quarter. Aspex Management HK Ltd now owns 4,553,023 shares of the company’s stock worth $435,497,000 after buying an additional 108,219 shares in the last quarter. Point72 Hong Kong Ltd raised its position in Futu by 228.4% during the third quarter. Point72 Hong Kong Ltd now owns 307,034 shares of the company’s stock worth $29,368,000 after acquiring an additional 213,549 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Futu by 109.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 410,524 shares of the company’s stock valued at $39,267,000 after purchasing an additional 214,135 shares in the last quarter. Hhlr Advisors LTD. lifted 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 purchasing an additional 335,000 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position 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 valued at $53,444,000 after purchasing an additional 465,961 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on FUTU shares. Citigroup cut Futu from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $79.00 to $95.00 in a report on Tuesday, November 19th. 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. Finally, Morgan Stanley upgraded shares of Futu from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $70.00 to $115.00 in a report on Monday, November 18th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Futu presently has a consensus rating of “Moderate Buy” and an average price target of $87.33.

Futu Trading Up 2.6 %

Shares of NASDAQ FUTU opened at $86.19 on Tuesday. Futu Holdings Limited has a 12-month low of $43.61 and a 12-month high of $130.50. The stock’s 50 day simple moving average is $90.64 and its 200 day simple moving average is $77.26. The company has a market cap of $11.88 billion, a price-to-earnings ratio of 21.13, a price-to-earnings-growth ratio of 0.88 and a beta of 0.72.

Futu Dividend Announcement

The firm also recently declared a — dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 6th will be paid a $2.00 dividend. The ex-dividend date 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.