Janney Montgomery Scott LLC Sells 3,895 Shares of Futu Holdings Limited (NASDAQ:FUTU)

Janney Montgomery Scott LLC decreased its holdings in Futu Holdings Limited (NASDAQ:FUTU) by 39.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,946 shares of the company’s stock after selling 3,895 shares during the period. Janney Montgomery Scott LLC’s holdings in Futu were worth $476,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in Futu by 181.5% during the third quarter. GAMMA Investing LLC now owns 594 shares of the company’s stock valued at $57,000 after buying an additional 383 shares during the last quarter. CWM LLC boosted its stake in Futu by 67.7% during the third quarter. CWM LLC now owns 743 shares of the company’s stock valued at $71,000 after buying an additional 300 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake 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. Venturi Wealth Management LLC bought a new position in Futu during the third quarter valued at approximately $92,000. Finally, Janus Henderson Group PLC bought a new position in Futu during the third quarter valued at approximately $201,000.

Futu Price Performance

Shares of FUTU stock opened at $105.64 on Monday. Futu Holdings Limited has a 1 year low of $47.18 and a 1 year high of $130.50. The stock’s 50 day simple moving average is $86.94 and its two-hundred day simple moving average is $81.87. The company has a market cap of $14.56 billion, a PE ratio of 25.89, a price-to-earnings-growth ratio of 0.77 and a beta of 0.76.

Futu Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on FUTU shares. 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. Citigroup downgraded Futu from a “buy” rating to a “neutral” rating and upped their price objective for the company from $79.00 to $95.00 in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.