Futu Holdings Limited (NASDAQ:FUTU) Stock Holdings Decreased by Penserra Capital Management LLC

Penserra Capital Management LLC decreased its stake in shares of Futu Holdings Limited (NASDAQ:FUTU) by 9.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,928 shares of the company’s stock after selling 2,528 shares during the period. Penserra Capital Management LLC’s holdings in Futu were worth $2,288,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Citigroup Inc. lifted its stake in Futu by 31.6% during the third quarter. Citigroup Inc. now owns 215,419 shares of the company’s stock worth $20,605,000 after purchasing an additional 51,765 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Futu by 19.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 56,669 shares of the company’s stock worth $5,420,000 after buying an additional 9,221 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Futu by 127.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 52,530 shares of the company’s stock valued at $5,024,000 after buying an additional 29,401 shares during the period. Natixis Advisors LLC bought a new stake in shares of Futu during the 3rd quarter valued at about $1,100,000. Finally, Central Asset Investments & Management Holdings HK Ltd acquired a new stake in Futu during the third quarter worth about $7,652,000.

Analyst Upgrades and Downgrades

FUTU has been the subject of a number of research reports. Morgan Stanley upgraded Futu from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $70.00 to $115.00 in a research note on Monday, November 18th. Citigroup lowered Futu from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $79.00 to $95.00 in a research report on Tuesday, November 19th. Finally, Bank of America increased their target price on Futu from $80.20 to $90.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $87.33.

Futu Price Performance

Shares of FUTU stock opened at $84.00 on Tuesday. Futu Holdings Limited has a 12-month low of $43.61 and a 12-month high of $130.50. The firm has a market capitalization of $11.57 billion, a price-to-earnings ratio of 20.59, a price-to-earnings-growth ratio of 0.86 and a beta of 0.75. The business has a 50 day simple moving average of $93.43 and a 200 day simple moving average of $75.81.

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.