Futu Holdings Limited (NASDAQ:FUTU) Shares Sold by RWC Asset Management LLP

RWC Asset Management LLP lessened its holdings in shares of Futu Holdings Limited (NASDAQ:FUTU) by 58.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,259 shares of the company’s stock after selling 24,264 shares during the period. RWC Asset Management LLP’s holdings in Futu were worth $1,381,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Valliance Asset Management Ltd purchased a new position in shares of Futu in the 3rd quarter valued at about $956,000. Sumitomo Mitsui Trust Group Inc. grew its position in Futu by 14.8% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 117,561 shares of the company’s stock worth $11,245,000 after buying an additional 15,127 shares during the period. Y Intercept Hong Kong Ltd increased its holdings in Futu by 136.9% in the third quarter. Y Intercept Hong Kong Ltd now owns 42,149 shares of the company’s stock valued at $4,032,000 after buying an additional 24,355 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Futu by 127.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 52,530 shares of the company’s stock valued at $5,024,000 after acquiring an additional 29,401 shares during the period. Finally, Natixis Advisors LLC purchased a new stake in shares of Futu during the 3rd quarter worth approximately $1,100,000.

Analysts Set New Price Targets

FUTU has been the subject of several research reports. Citigroup cut Futu from a “buy” rating to a “neutral” rating and lifted their price objective for the stock 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 lifted their price target for the stock from $70.00 to $115.00 in a research note on Monday, November 18th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $91.40.

Futu Stock Performance

Shares of NASDAQ:FUTU opened at $121.40 on Monday. The business’s fifty day moving average price is $93.05 and its two-hundred day moving average price is $86.12. The stock has a market cap of $16.73 billion, a PE ratio of 29.75, a price-to-earnings-growth ratio of 0.79 and a beta of 0.76. Futu Holdings Limited has a one year low of $49.63 and a one year high of $130.88.

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.