Virtu Financial LLC Cuts Stake in Futu Holdings Limited (NASDAQ:FUTU)

Virtu Financial LLC lowered its position in Futu Holdings Limited (NASDAQ:FUTU) by 44.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,256 shares of the company’s stock after selling 10,590 shares during the quarter. Virtu Financial LLC’s holdings in Futu were worth $1,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of FUTU. Natixis Advisors LLC purchased a new stake in Futu in the third quarter worth approximately $1,100,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Futu by 127.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 52,530 shares of the company’s stock valued at $5,024,000 after purchasing an additional 29,401 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Futu by 19.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 56,669 shares of the company’s stock valued at $5,420,000 after purchasing an additional 9,221 shares during the period. Citigroup Inc. boosted its stake in shares of Futu by 31.6% during the third quarter. Citigroup Inc. now owns 215,419 shares of the company’s stock valued at $20,605,000 after purchasing an additional 51,765 shares during the period. Finally, Sompo Asset Management Co. Ltd. boosted its stake in shares of Futu by 3.7% during the third quarter. Sompo Asset Management Co. Ltd. now owns 11,360 shares of the company’s stock valued at $1,087,000 after purchasing an additional 410 shares during the period.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. UBS Group increased their price objective on Futu from $130.00 to $136.00 and gave the company a “buy” rating in a research note on Monday, March 17th. JPMorgan Chase & Co. increased their price objective on Futu from $160.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Futu has an average rating of “Moderate Buy” and a consensus target price of $121.20.

Futu Trading Down 2.5 %

Shares of Futu stock opened at $106.36 on Monday. Futu Holdings Limited has a 12-month low of $51.80 and a 12-month high of $130.88. The company has a market cap of $14.66 billion, a P/E ratio of 26.07, a PEG ratio of 0.79 and a beta of 0.78. The company’s fifty day simple moving average is $104.81 and its two-hundred day simple moving average is $93.21.

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.