Sumitomo Mitsui DS Asset Management Company Ltd Purchases 1,897 Shares of Futu Holdings Limited (NASDAQ:FUTU)

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Futu Holdings Limited (NASDAQ:FUTU) by 38.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,817 shares of the company’s stock after acquiring an additional 1,897 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Futu were worth $545,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FUTU. Allspring Global Investments Holdings LLC raised its position 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 purchasing an additional 112 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Futu by 31.0% during the fourth quarter. GAMMA Investing LLC now owns 778 shares of the company’s stock worth $62,000 after buying an additional 184 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of 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 buying an additional 222 shares during the last quarter. CWM LLC grew its stake in shares of Futu by 67.7% during the third quarter. CWM LLC now owns 743 shares of the company’s stock worth $71,000 after buying an additional 300 shares during the last quarter. Finally, Lifestyle Asset Management Inc. grew its stake in shares of Futu by 6.1% during the third quarter. Lifestyle Asset Management Inc. now owns 5,373 shares of the company’s stock worth $514,000 after buying an additional 307 shares during the last quarter.

Futu Stock Up 9.4 %

Shares of Futu stock opened at $115.81 on Thursday. Futu Holdings Limited has a twelve month low of $47.68 and a twelve month high of $130.50. The stock has a market cap of $15.96 billion, a price-to-earnings ratio of 28.38, a P/E/G ratio of 0.77 and a beta of 0.76. The company’s fifty day moving average is $87.74 and its 200 day moving average is $82.66.

Futu Dividend Announcement

The firm also recently disclosed a — dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 6th were paid a $2.00 dividend. The ex-dividend date was Friday, December 6th.

Analyst Ratings Changes

FUTU has been the topic of a number of research reports. Citigroup cut shares of Futu from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $79.00 to $95.00 in a research note on Tuesday, November 19th. Morgan Stanley raised shares of Futu from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $70.00 to $115.00 in a research note on Monday, November 18th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Futu currently has an average rating of “Moderate Buy” and a consensus price target of $91.40.

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.