Sumitomo Mitsui Trust Group Inc. Boosts Stake in Futu Holdings Limited (NASDAQ:FUTU)

Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Futu Holdings Limited (NASDAQ:FUTU) by 183.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 333,401 shares of the company’s stock after buying an additional 215,840 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.24% of Futu worth $26,669,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of FUTU. GAMMA Investing LLC lifted its stake 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 purchasing an additional 383 shares in the last quarter. CWM LLC lifted its stake in Futu by 67.7% during the 3rd quarter. CWM LLC now owns 743 shares of the company’s stock worth $71,000 after acquiring an additional 300 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Futu by 14.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 877 shares of the company’s stock valued at $84,000 after acquiring an additional 112 shares during the period. Venturi Wealth Management LLC acquired a new position in Futu in the 3rd quarter valued at about $92,000. Finally, Janus Henderson Group PLC purchased a new stake in Futu during the third quarter worth about $201,000.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on FUTU shares. Citigroup cut shares of Futu from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $79.00 to $95.00 in a report on Tuesday, November 19th. Morgan Stanley raised Futu from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $70.00 to $115.00 in a research report on Monday, November 18th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $91.40.

Futu Stock Down 1.6 %

NASDAQ FUTU opened at $105.88 on Wednesday. Futu Holdings Limited has a 52 week low of $47.68 and a 52 week high of $130.50. The firm has a 50 day moving average of $87.39 and a two-hundred day moving average of $82.35. The stock has a market capitalization of $14.59 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 0.77 and a beta of 0.76.

Futu Dividend Announcement

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

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.