Healthcare of Ontario Pension Plan Trust Fund Purchases New Shares in Futu Holdings Limited (NASDAQ:FUTU)

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Futu Holdings Limited (NASDAQ:FUTU) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 417,600 shares of the company’s stock, valued at approximately $39,943,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Marshall Wace LLP grew its stake in shares of Futu by 71.5% in the second quarter. Marshall Wace LLP now owns 1,521,314 shares of the company’s stock valued at $99,813,000 after acquiring an additional 634,369 shares in the last quarter. E Fund Management Co. Ltd. acquired a new stake in Futu during the second quarter worth about $31,490,000. Veritas Asset Management LLP acquired a new stake in Futu during the third quarter worth about $39,547,000. Yong Rong HK Asset Management Ltd grew its stake in Futu by 2,525.3% during the third quarter. Yong Rong HK Asset Management Ltd now owns 393,800 shares of the company’s stock worth $37,667,000 after buying an additional 378,800 shares in the last quarter. Finally, National Bank of Canada FI grew its stake in Futu by 3,253,333.3% during the second quarter. National Bank of Canada FI now owns 292,809 shares of the company’s stock worth $18,790,000 after buying an additional 292,800 shares in the last quarter.

Analyst Ratings Changes

A number of equities research analysts have issued reports on FUTU shares. Bank of America increased their price objective on shares of Futu from $80.20 to $90.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Morgan Stanley upgraded shares of Futu from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $70.00 to $115.00 in a research note on Monday, November 18th. Finally, Citigroup downgraded shares of Futu from a “buy” rating to a “neutral” rating and raised their price target for the company 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 five have issued a buy rating to the company’s stock. According to MarketBeat.com, Futu currently has an average rating of “Moderate Buy” and a consensus price target of $87.33.

Futu Trading Up 3.1 %

FUTU opened at $86.33 on Thursday. The company’s 50 day moving average is $94.43 and its 200-day moving average is $75.99. The company has a market cap of $11.90 billion, a P/E ratio of 21.16, a PEG ratio of 0.86 and a beta of 0.75. Futu Holdings Limited has a 1-year low of $43.61 and a 1-year high of $130.50.

Futu Dividend Announcement

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

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.