Blue Trust Inc. Grows Stake in Futu Holdings Limited (NASDAQ:FUTU)

Blue Trust Inc. increased its position in Futu Holdings Limited (NASDAQ:FUTU) by 15.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,302 shares of the company’s stock after acquiring an additional 1,413 shares during the period. Blue Trust Inc.’s holdings in Futu were worth $824,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its position in shares of Futu by 14.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 877 shares of the company’s stock valued at $84,000 after purchasing an additional 112 shares during the last quarter. GAMMA Investing LLC grew its position in Futu by 31.0% during the fourth quarter. GAMMA Investing LLC now owns 778 shares of the company’s stock valued at $62,000 after buying an additional 184 shares during the period. CIBC Asset Management Inc increased its holdings in Futu by 4.3% during the third quarter. CIBC Asset Management Inc now owns 5,403 shares of the company’s stock valued at $517,000 after buying an additional 222 shares during the last quarter. CWM LLC raised its position in Futu by 67.7% in the third quarter. CWM LLC now owns 743 shares of the company’s stock worth $71,000 after acquiring an additional 300 shares during the period. Finally, Lifestyle Asset Management Inc. boosted its stake in shares of Futu by 6.1% during the 3rd quarter. Lifestyle Asset Management Inc. now owns 5,373 shares of the company’s stock worth $514,000 after acquiring an additional 307 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Morgan Stanley raised Futu from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $70.00 to $115.00 in a report on Monday, November 18th. Citigroup downgraded Futu from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $79.00 to $95.00 in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $91.40.

Futu Trading Down 2.5 %

NASDAQ:FUTU opened at $97.18 on Thursday. The stock has a 50-day moving average price of $85.00 and a 200 day moving average price of $80.09. Futu Holdings Limited has a 12-month low of $45.15 and a 12-month high of $130.50. The stock has a market capitalization of $13.39 billion, a P/E ratio of 23.82, a P/E/G ratio of 0.71 and a beta of 0.75.

Futu Dividend Announcement

The business also recently announced a — dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 6th were issued a $2.00 dividend. The ex-dividend date of this dividend was Friday, December 6th.

About Futu

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.