Futu Holdings Limited (NASDAQ:FUTU) Receives $87.33 Average PT from Analysts

Shares of Futu Holdings Limited (NASDAQ:FUTU) have been given a consensus rating of “Moderate Buy” by the six ratings firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $87.33.

Several equities analysts have issued reports on the stock. Morgan Stanley raised shares of Futu from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $70.00 to $115.00 in a research note on Monday, November 18th. Bank of America boosted their price target on shares of Futu from $80.20 to $90.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, Citigroup cut shares of Futu from a “buy” rating to a “neutral” rating and increased their price target for the stock from $79.00 to $95.00 in a report on Tuesday, November 19th.

Futu Trading Down 4.7 %

Shares of FUTU stock opened at $82.45 on Thursday. The company has a market capitalization of $11.36 billion, a P/E ratio of 20.21, a price-to-earnings-growth ratio of 0.88 and a beta of 0.72. The business’s 50 day moving average is $92.73 and its two-hundred day moving average is $76.99. Futu has a twelve month low of $43.61 and a twelve month high of $130.50.

Futu Dividend Announcement

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

Institutional Trading of Futu

A number of institutional investors have recently added to or reduced their stakes in FUTU. Aspex Management HK Ltd lifted its position in shares of Futu by 2.4% during the 3rd quarter. Aspex Management HK Ltd now owns 4,553,023 shares of the company’s stock valued at $435,497,000 after acquiring an additional 108,219 shares during the period. Marshall Wace LLP increased its stake in Futu by 71.5% in the 2nd quarter. Marshall Wace LLP now owns 1,521,314 shares of the company’s stock valued at $99,813,000 after purchasing an additional 634,369 shares in the last quarter. Hhlr Advisors LTD. boosted its position in Futu by 46.8% during the third quarter. Hhlr Advisors LTD. now owns 1,051,089 shares of the company’s stock worth $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 boosted its position 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 worth $53,444,000 after purchasing an additional 465,961 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Futu by 3.3% in the third quarter. Geode Capital Management LLC now owns 545,949 shares of the company’s stock valued at $51,475,000 after buying an additional 17,513 shares in the last quarter.

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.