Healthcare of Ontario Pension Plan Trust Fund Takes Position in Futu Holdings Limited (NASDAQ:FUTU)

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Futu Holdings Limited (NASDAQ:FUTU) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 417,600 shares of the company’s stock, valued at approximately $39,943,000. Healthcare of Ontario Pension Plan Trust Fund owned 0.30% of Futu as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in FUTU. Allspring Global Investments Holdings LLC boosted its holdings in Futu by 14.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 877 shares of the company’s stock worth $84,000 after purchasing an additional 112 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in Futu by 4.3% during the third quarter. CIBC Asset Management Inc now owns 5,403 shares of the company’s stock worth $517,000 after purchasing an additional 222 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in Futu by 3.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 7,346 shares of the company’s stock worth $394,000 after purchasing an additional 230 shares during the last quarter. Signaturefd LLC boosted its holdings in Futu by 8.4% during the second quarter. Signaturefd LLC now owns 3,205 shares of the company’s stock worth $210,000 after purchasing an additional 247 shares during the last quarter. Finally, CWM LLC boosted its holdings in Futu by 67.7% during the third quarter. CWM LLC now owns 743 shares of the company’s stock worth $71,000 after purchasing an additional 300 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Citigroup cut shares of Futu from a “buy” rating to a “neutral” rating and increased their target price for the stock from $79.00 to $95.00 in a report on Tuesday, November 19th. Bank of America increased their target price on shares of Futu from $80.20 to $90.00 and gave the stock 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 upped their price target for the stock 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 given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $87.33.

Futu Price Performance

Shares of FUTU opened at $86.33 on Thursday. The firm has a market capitalization of $11.90 billion, a PE ratio of 21.16, a PEG ratio of 0.86 and a beta of 0.75. The company’s 50-day moving average is $94.43 and its 200-day moving average is $75.99. Futu Holdings Limited has a fifty-two week low of $43.61 and a fifty-two week high of $130.50.

Futu Announces Dividend

The business also recently disclosed a — dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 6th will be given a $2.00 dividend. The ex-dividend date of this dividend is 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.