Barclays PLC Decreases Stake in Futu Holdings Limited (NASDAQ:FUTU)

Barclays PLC decreased its holdings in Futu Holdings Limited (NASDAQ:FUTU) by 4.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 101,063 shares of the company’s stock after selling 4,585 shares during the period. Barclays PLC owned approximately 0.07% of Futu worth $9,667,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FUTU. SG Americas Securities LLC acquired a new stake in shares of Futu in the second quarter worth $123,000. Blue Trust Inc. raised its position in Futu by 1,868.2% in the second quarter. Blue Trust Inc. now owns 2,598 shares of the company’s stock valued at $170,000 after purchasing an additional 2,466 shares during the period. Bailard Inc. acquired a new position in shares of Futu during the second quarter worth about $984,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Futu in the second quarter worth about $50,000. Finally, Yong Rong HK Asset Management Ltd acquired a new stake in shares of Futu in the second quarter valued at about $985,000.

Futu Price Performance

Shares of FUTU opened at $86.18 on Wednesday. The company has a 50-day moving average of $92.21 and a two-hundred day moving average of $77.07. The stock has a market cap of $11.88 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 0.88 and a beta of 0.72. Futu Holdings Limited has a one year low of $43.61 and a one year high of $130.50.

Futu Announces Dividend

The firm also recently announced 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.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FUTU. Bank of America increased their price objective on shares of Futu from $80.20 to $90.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Morgan Stanley upgraded Futu from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $70.00 to $115.00 in a research note on Monday, November 18th. Finally, Citigroup downgraded 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. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.33.

Futu 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.