Futu Holdings Limited (NASDAQ:FUTU) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC grew its holdings in Futu Holdings Limited (NASDAQ:FUTU) by 3.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 545,949 shares of the company’s stock after buying an additional 17,513 shares during the quarter. Geode Capital Management LLC’s holdings in Futu were worth $51,475,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC grew its position in Futu by 181.5% during the third quarter. GAMMA Investing LLC now owns 594 shares of the company’s stock worth $57,000 after buying an additional 383 shares during the period. CWM LLC grew its holdings in Futu by 67.7% in the third quarter. CWM LLC now owns 743 shares of the company’s stock valued at $71,000 after purchasing an additional 300 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Futu during the 2nd quarter valued at about $50,000. Venturi Wealth Management LLC acquired a new stake in Futu during the 3rd quarter valued at $92,000. Finally, SG Americas Securities LLC purchased a new stake in Futu during the 2nd quarter worth about $123,000.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on FUTU. Bank of America raised 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. Morgan Stanley upgraded Futu from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $70.00 to $115.00 in a report on Monday, November 18th. Finally, Citigroup cut Futu from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $79.00 to $95.00 in a report on Tuesday, November 19th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.33.

Futu Stock Performance

Shares of FUTU stock opened at $84.04 on Monday. The firm has a market capitalization of $11.58 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 0.88 and a beta of 0.72. The company has a 50 day moving average price of $90.64 and a 200 day moving average price of $77.25. Futu Holdings Limited has a one year low of $43.61 and a one year high of $130.50.

Futu Dividend Announcement

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

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.