Central Asset Investments & Management Holdings HK Ltd Has $4.58 Million Stock Holdings in Futu Holdings Limited (NASDAQ:FUTU)

Central Asset Investments & Management Holdings HK Ltd trimmed its stake in shares of Futu Holdings Limited (NASDAQ:FUTU) by 28.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 57,297 shares of the company’s stock after selling 22,703 shares during the quarter. Futu accounts for 2.8% of Central Asset Investments & Management Holdings HK Ltd’s portfolio, making the stock its 11th largest holding. Central Asset Investments & Management Holdings HK Ltd’s holdings in Futu were worth $4,583,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of FUTU. Bank of New York Mellon Corp boosted its stake in shares of Futu by 4.6% in the 4th quarter. Bank of New York Mellon Corp now owns 90,267 shares of the company’s stock valued at $7,220,000 after purchasing an additional 3,968 shares in the last quarter. New York State Common Retirement Fund bought a new position in Futu during the 4th quarter valued at about $2,436,000. GAM Holding AG acquired a new position in Futu in the fourth quarter valued at about $480,000. CIBC Asset Management Inc grew its stake in Futu by 12.7% during the fourth quarter. CIBC Asset Management Inc now owns 6,089 shares of the company’s stock worth $487,000 after buying an additional 686 shares during the last quarter. Finally, Csenge Advisory Group acquired a new stake in shares of Futu during the fourth quarter worth approximately $422,000.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on FUTU shares. Citigroup lowered Futu from a “buy” rating to a “neutral” rating and increased their price target for the stock from $79.00 to $95.00 in a research report on Tuesday, November 19th. Morgan Stanley raised Futu from an “equal weight” rating to an “overweight” rating and boosted their price objective 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 assigned a buy rating to the stock. According to data from MarketBeat, Futu has a consensus rating of “Moderate Buy” and an average price target of $91.40.

Futu Trading Up 9.0 %

Shares of FUTU stock opened at $114.00 on Thursday. The firm has a market capitalization of $15.71 billion, a price-to-earnings ratio of 27.94, a PEG ratio of 0.79 and a beta of 0.76. The firm’s 50 day moving average is $94.59 and its 200-day moving average is $87.00. Futu Holdings Limited has a 1 year low of $51.80 and a 1 year high of $130.88.

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.