UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 465,961 Shares of Futu Holdings Limited (NASDAQ:FUTU)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Futu Holdings Limited (NASDAQ:FUTU) by 502.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 558,746 shares of the company’s stock after buying an additional 465,961 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.41% of Futu worth $53,444,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in FUTU. Allspring Global Investments Holdings LLC acquired a new position in shares of Futu during the 2nd quarter worth about $50,000. GAMMA Investing LLC grew its holdings in Futu by 181.5% during the third quarter. GAMMA Investing LLC now owns 594 shares of the company’s stock worth $57,000 after purchasing an additional 383 shares during the period. CWM LLC increased its position in Futu by 67.7% during the third quarter. CWM LLC now owns 743 shares of the company’s stock worth $71,000 after buying an additional 300 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in Futu in the third quarter valued at approximately $92,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Futu in the second quarter valued at approximately $123,000.

Futu Price Performance

Shares of NASDAQ FUTU opened at $88.22 on Wednesday. The firm has a market cap of $12.16 billion, a price-to-earnings ratio of 21.62, a P/E/G ratio of 0.87 and a beta of 0.72. The stock’s fifty day moving average price is $95.86 and its two-hundred day moving average price is $76.30. Futu Holdings Limited has a one year low of $43.61 and a one year high of $130.50.

Futu Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FUTU. Citigroup lowered Futu from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $79.00 to $95.00 in a report on Tuesday, November 19th. Bank of America upped their price objective on shares of Futu from $80.20 to $90.00 and gave the company a “buy” rating in a report on Friday, September 27th. Finally, Morgan Stanley raised shares of Futu from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $70.00 to $115.00 in a research report on Monday, November 18th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Futu has a consensus rating of “Moderate Buy” and a consensus target price of $87.33.

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.