Futu Holdings Limited (NASDAQ:FUTU) Shares Sold by Blue Trust Inc.

Blue Trust Inc. lessened its stake in shares of Futu Holdings Limited (NASDAQ:FUTU) by 86.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,226 shares of the company’s stock after selling 7,663 shares during the period. Blue Trust Inc.’s holdings in Futu were worth $98,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of FUTU. CWM LLC raised its position in shares of Futu by 67.7% during the 3rd quarter. CWM LLC now owns 743 shares of the company’s stock worth $71,000 after purchasing an additional 300 shares during the last quarter. Creative Planning raised its holdings in Futu by 6.3% in the 3rd quarter. Creative Planning now owns 14,091 shares of the company’s stock valued at $1,348,000 after acquiring an additional 838 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in 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 acquiring an additional 112 shares during the last quarter. abrdn plc raised its holdings in Futu by 8.4% in the 3rd quarter. abrdn plc now owns 10,394 shares of the company’s stock valued at $994,000 after acquiring an additional 807 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new stake in Futu in the 3rd quarter valued at about $271,000.

Futu Stock Performance

NASDAQ:FUTU opened at $121.40 on Friday. The stock has a market capitalization of $16.73 billion, a P/E ratio of 29.75, a PEG ratio of 0.79 and a beta of 0.76. The company has a 50 day moving average price of $93.05 and a 200 day moving average price of $85.92. Futu Holdings Limited has a fifty-two week low of $49.63 and a fifty-two week high of $130.88.

Analyst Upgrades and Downgrades

A number of research firms have commented on FUTU. Citigroup downgraded shares of 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 report on Tuesday, November 19th. Morgan Stanley upgraded shares of Futu from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $70.00 to $115.00 in a report on Monday, November 18th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $91.40.

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.