WT Asset Management Ltd Boosts Holdings in Futu Holdings Limited (NASDAQ:FUTU)

WT Asset Management Ltd raised its holdings in shares of Futu Holdings Limited (NASDAQ:FUTU) by 899.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 149,977 shares of the company’s stock after acquiring an additional 134,977 shares during the quarter. Futu makes up 1.3% of WT Asset Management Ltd’s portfolio, making the stock its 17th largest holding. WT Asset Management Ltd owned 0.11% of Futu worth $11,997,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Futu by 502.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 558,746 shares of the company’s stock valued at $53,444,000 after purchasing an additional 465,961 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Futu during the 3rd quarter valued at about $39,943,000. Veritas Asset Management LLP bought a new position in shares of Futu during the 3rd quarter valued at approximately $39,547,000. Yong Rong HK Asset Management Ltd increased its holdings in Futu by 2,525.3% in the 3rd quarter. Yong Rong HK Asset Management Ltd now owns 393,800 shares of the company’s stock worth $37,667,000 after acquiring an additional 378,800 shares in the last quarter. Finally, Hhlr Advisors LTD. raised its stake in Futu by 46.8% during 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 period.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Citigroup cut shares of Futu from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $79.00 to $95.00 in a research note on Tuesday, November 19th. Morgan Stanley upgraded Futu from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $70.00 to $115.00 in a research report on Monday, November 18th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Futu presently has an average rating of “Moderate Buy” and an average price target of $91.40.

Futu Stock Performance

Shares of NASDAQ FUTU opened at $98.72 on Wednesday. The company has a market cap of $13.60 billion, a P/E ratio of 24.20, a P/E/G ratio of 0.76 and a beta of 0.76. Futu Holdings Limited has a 52-week low of $45.15 and a 52-week high of $130.50. The firm’s fifty day moving average is $86.20 and its two-hundred day moving average is $81.23.

Futu Announces Dividend

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

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.