AustralianSuper Pty Ltd Sells 78,160 Shares of Futu Holdings Limited (NASDAQ:FUTU)

AustralianSuper Pty Ltd reduced its position in Futu Holdings Limited (NASDAQ:FUTU) by 46.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 91,195 shares of the company’s stock after selling 78,160 shares during the quarter. AustralianSuper Pty Ltd owned approximately 0.07% of Futu worth $7,295,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FUTU. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Futu by 38.6% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,817 shares of the company’s stock worth $545,000 after acquiring an additional 1,897 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in Futu by 183.6% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 333,401 shares of the company’s stock worth $26,669,000 after acquiring an additional 215,840 shares in the last quarter. WT Asset Management Ltd raised its stake in Futu by 899.8% during the fourth quarter. WT Asset Management Ltd now owns 149,977 shares of the company’s stock worth $11,997,000 after acquiring an additional 134,977 shares in the last quarter. Yorktown Management & Research Co Inc acquired a new position in Futu during the fourth quarter worth $280,000. Finally, abrdn plc raised its stake in Futu by 527.0% during the fourth quarter. abrdn plc now owns 65,170 shares of the company’s stock worth $5,246,000 after acquiring an additional 54,776 shares in the last quarter.

Futu Stock Up 3.3 %

Shares of FUTU stock opened at $121.82 on Friday. The stock has a 50-day moving average price of $89.73 and a 200 day moving average price of $83.72. The firm has a market cap of $16.79 billion, a price-to-earnings ratio of 29.86, a PEG ratio of 0.77 and a beta of 0.76. Futu Holdings Limited has a 12 month low of $49.17 and a 12 month high of $130.50.

Futu Dividend Announcement

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

Analysts Set New Price Targets

FUTU has been the subject of several recent analyst reports. Morgan Stanley upgraded Futu from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $70.00 to $115.00 in a research note on Monday, November 18th. Citigroup lowered Futu from a “buy” rating to a “neutral” rating and raised their target price for the company from $79.00 to $95.00 in a research note on Tuesday, November 19th. One 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, Futu has an average rating of “Moderate Buy” and a consensus price target of $91.40.

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.