Futu Holdings Limited (NASDAQ:FUTU) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC decreased its position in Futu Holdings Limited (NASDAQ:FUTU) by 88.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,558 shares of the company’s stock after selling 43,465 shares during the period. Intech Investment Management LLC’s holdings in Futu were worth $532,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of FUTU. GAMMA Investing LLC boosted its position in shares of Futu by 181.5% during the third quarter. GAMMA Investing LLC now owns 594 shares of the company’s stock worth $57,000 after buying an additional 383 shares during the period. CWM LLC boosted its position in shares of Futu by 67.7% in the 3rd quarter. CWM LLC now owns 743 shares of the company’s stock valued at $71,000 after purchasing an additional 300 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in Futu during the 2nd quarter worth approximately $50,000. Venturi Wealth Management LLC purchased a new stake in shares of Futu in the third quarter valued at about $92,000. Finally, SG Americas Securities LLC acquired a new stake in Futu in the second quarter valued at $123,000.

Futu Stock Up 1.0 %

Shares of Futu stock opened at $87.23 on Monday. The stock has a 50 day moving average price of $95.24 and a two-hundred day moving average price of $76.19. The stock has a market capitalization of $12.02 billion, a P/E ratio of 21.38, a PEG ratio of 0.89 and a beta of 0.75. Futu Holdings Limited has a 12-month low of $43.61 and a 12-month high of $130.50.

Futu Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

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.