11,503 Shares in Futu Holdings Limited (NASDAQ:FUTU) Bought by Natixis Advisors LLC

Natixis Advisors LLC purchased a new stake in shares of Futu Holdings Limited (NASDAQ:FUTU) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 11,503 shares of the company’s stock, valued at approximately $1,100,000.

Several other hedge funds have also recently added to or reduced their stakes in FUTU. Central Asset Investments & Management Holdings HK Ltd bought a new position in Futu during the third quarter valued at approximately $7,652,000. CIBC Asset Management Inc grew its holdings in shares of Futu by 4.3% during the 3rd quarter. CIBC Asset Management Inc now owns 5,403 shares of the company’s stock valued at $517,000 after purchasing an additional 222 shares during the last quarter. Plato Investment Management Ltd bought a new position in shares of Futu during the 3rd quarter valued at $784,000. Sumitomo Mitsui Trust Group Inc. raised its position in Futu by 14.8% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 117,561 shares of the company’s stock worth $11,245,000 after purchasing an additional 15,127 shares during the period. Finally, Venturi Wealth Management LLC bought a new stake in Futu in the third quarter worth $92,000.

Futu Price Performance

NASDAQ:FUTU opened at $83.76 on Wednesday. Futu Holdings Limited has a 1-year low of $43.61 and a 1-year high of $130.50. The company has a market capitalization of $11.54 billion, a PE ratio of 20.53, a P/E/G ratio of 0.86 and a beta of 0.75. The firm’s 50-day moving average price is $93.90 and its 200-day moving average price is $75.91.

Wall Street Analysts Forecast Growth

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

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.