WT Asset Management Ltd Acquires 134,977 Shares of Futu Holdings Limited (NASDAQ:FUTU)

WT Asset Management Ltd grew its holdings in Futu Holdings Limited (NASDAQ:FUTU) by 899.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 149,977 shares of the company’s stock after buying an additional 134,977 shares during the period. Futu makes up 1.3% of WT Asset Management Ltd’s portfolio, making the stock its 17th largest holding. WT Asset Management Ltd’s holdings in Futu were worth $11,997,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Aspex Management HK Ltd boosted its stake in Futu by 2.4% during the third quarter. Aspex Management HK Ltd now owns 4,553,023 shares of the company’s stock worth $435,497,000 after buying an additional 108,219 shares during the period. Hhlr Advisors LTD. lifted its holdings in shares of Futu by 46.8% in the 3rd quarter. Hhlr Advisors LTD. now owns 1,051,089 shares of the company’s stock worth $100,537,000 after acquiring an additional 335,000 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Futu by 502.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 558,746 shares of the company’s stock worth $53,444,000 after purchasing an additional 465,961 shares during the period. Geode Capital Management LLC raised its position in Futu by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 545,949 shares of the company’s stock worth $51,475,000 after purchasing an additional 17,513 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Futu in the third quarter worth about $39,943,000.

Analysts Set New Price Targets

FUTU has been the topic of a number of analyst reports. Citigroup cut 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 note on Tuesday, November 19th. Morgan Stanley raised Futu from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $70.00 to $115.00 in a research report on Monday, November 18th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Futu presently has a consensus rating of “Moderate Buy” and an average price target of $91.40.

Futu Stock Performance

Futu stock opened at $98.72 on Wednesday. The company has a market capitalization of $13.60 billion, a PE ratio of 24.20, a P/E/G ratio of 0.76 and a beta of 0.76. The company has a 50 day moving average price of $86.20 and a 200-day moving average price of $81.23. Futu Holdings Limited has a fifty-two week low of $45.15 and a fifty-two week high of $130.50.

Futu Dividend Announcement

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

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.