Asset Management One Co. Ltd. Sells 8,082 Shares of Futu Holdings Limited (NASDAQ:FUTU)

Asset Management One Co. Ltd. reduced its holdings in shares of Futu Holdings Limited (NASDAQ:FUTU) by 27.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,510 shares of the company’s stock after selling 8,082 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Futu were worth $1,782,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. GAMMA Investing LLC boosted its stake in Futu by 31.0% in the 4th quarter. GAMMA Investing LLC now owns 778 shares of the company’s stock valued at $62,000 after purchasing an additional 184 shares during the period. CWM LLC grew its position in Futu by 67.7% during the 3rd quarter. CWM LLC now owns 743 shares of the company’s stock worth $71,000 after acquiring an additional 300 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Futu by 14.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 877 shares of the company’s stock valued at $84,000 after buying an additional 112 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in shares of Futu in the 3rd quarter valued at about $92,000. Finally, Janus Henderson Group PLC bought a new stake in shares of Futu in the 3rd quarter valued at about $201,000.

Futu Trading Down 1.8 %

Shares of NASDAQ FUTU opened at $121.36 on Thursday. The stock has a fifty day simple moving average of $91.64 and a two-hundred day simple moving average of $85.02. Futu Holdings Limited has a 1-year low of $49.17 and a 1-year high of $130.50. The firm has a market cap of $16.72 billion, a price-to-earnings ratio of 29.75, a price-to-earnings-growth ratio of 0.82 and a beta of 0.76.

Futu Announces Dividend

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

Analyst Ratings Changes

Several brokerages recently commented on FUTU. Citigroup lowered Futu from a “buy” rating to a “neutral” rating and upped their target price for the company from $79.00 to $95.00 in a research report on Tuesday, November 19th. Morgan Stanley raised Futu from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $70.00 to $115.00 in a research note on Monday, November 18th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.40.

Futu Company 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.