Aspex Management HK Ltd Increases Stock Position in Futu Holdings Limited (NASDAQ:FUTU)

Aspex Management HK Ltd grew its position in shares of Futu Holdings Limited (NASDAQ:FUTU) by 2.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,553,023 shares of the company’s stock after buying an additional 108,219 shares during the quarter. Futu accounts for 11.5% of Aspex Management HK Ltd’s portfolio, making the stock its 2nd largest position. Aspex Management HK Ltd’s holdings in Futu were worth $435,497,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in FUTU. Allspring Global Investments Holdings LLC increased 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 valued at $84,000 after buying an additional 112 shares during the last quarter. CIBC Asset Management Inc lifted its position in Futu by 4.3% during the third quarter. CIBC Asset Management Inc now owns 5,403 shares of the company’s stock valued at $517,000 after purchasing an additional 222 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in Futu by 3.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 7,346 shares of the company’s stock valued at $394,000 after purchasing an additional 230 shares in the last quarter. Signaturefd LLC increased its position in Futu by 8.4% in the second quarter. Signaturefd LLC now owns 3,205 shares of the company’s stock worth $210,000 after buying an additional 247 shares in the last quarter. Finally, CWM LLC increased its position in Futu by 67.7% in the third quarter. CWM LLC now owns 743 shares of the company’s stock worth $71,000 after buying an additional 300 shares in the last quarter.

Futu Trading Up 1.0 %

Shares of FUTU opened at $87.23 on Monday. The company’s fifty day simple moving average is $95.24 and its 200-day simple moving average is $76.19. The company has a market cap of $12.02 billion, a P/E ratio of 21.38, a P/E/G ratio of 0.89 and a beta of 0.75. Futu Holdings Limited has a twelve month low of $43.61 and a twelve month high of $130.50.

Futu Dividend Announcement

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

Analysts Set New Price Targets

Several research firms recently issued reports on FUTU. Citigroup lowered 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 raised their price objective on Futu from $80.20 to $90.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Finally, Morgan Stanley raised Futu from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $70.00 to $115.00 in a research note on Monday, November 18th. One analyst has rated the stock with a hold rating and five have assigned 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 $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.