AustralianSuper Pty Ltd Sells 78,160 Shares of Futu Holdings Limited (NASDAQ:FUTU)

AustralianSuper Pty Ltd lowered its stake in shares of Futu Holdings Limited (NASDAQ:FUTU) by 46.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 91,195 shares of the company’s stock after selling 78,160 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Futu were worth $7,295,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Aspex Management HK Ltd boosted its holdings 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 last quarter. Hhlr Advisors LTD. lifted its holdings in shares of Futu by 46.8% during the 3rd quarter. Hhlr Advisors LTD. now owns 1,051,089 shares of the company’s stock valued at $100,537,000 after purchasing an additional 335,000 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings 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 valued at $53,444,000 after purchasing an additional 465,961 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Futu by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 545,949 shares of the company’s stock valued at $51,475,000 after purchasing an additional 17,513 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Futu during the 3rd quarter valued at about $39,943,000.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FUTU. Morgan Stanley upgraded Futu from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $70.00 to $115.00 in a report on Monday, November 18th. Citigroup cut Futu from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $79.00 to $95.00 in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $91.40.

Futu Stock Performance

Shares of Futu stock opened at $121.82 on Friday. The business’s 50 day simple moving average is $89.73 and its 200 day simple moving average is $83.72. Futu Holdings Limited has a 52-week low of $49.17 and a 52-week high of $130.50. The firm has a market cap of $16.79 billion, a PE ratio of 29.86, a P/E/G ratio of 0.77 and a beta of 0.76.

Futu Dividend Announcement

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 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.