11,503 Shares in Futu Holdings Limited (NASDAQ:FUTU) Acquired by Natixis Advisors LLC

Natixis Advisors LLC bought a new stake in shares of Futu Holdings Limited (NASDAQ:FUTU) in the third quarter, HoldingsChannel reports. The institutional investor bought 11,503 shares of the company’s stock, valued at approximately $1,100,000.

Several other institutional investors have also added to or reduced their stakes in FUTU. Allspring Global Investments Holdings LLC boosted its position in shares of Futu by 14.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 877 shares of the company’s stock worth $84,000 after purchasing an additional 112 shares during the period. CIBC Asset Management Inc lifted its stake in shares of Futu by 4.3% during the 3rd quarter. CIBC Asset Management Inc now owns 5,403 shares of the company’s stock valued at $517,000 after buying an additional 222 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in Futu by 3.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 7,346 shares of the company’s stock worth $394,000 after buying an additional 230 shares during the period. Signaturefd LLC increased its stake in Futu by 8.4% in the 2nd quarter. Signaturefd LLC now owns 3,205 shares of the company’s stock worth $210,000 after buying an additional 247 shares in the last quarter. Finally, CWM LLC raised its holdings 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 acquiring an additional 300 shares during the period.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. 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 note on Monday, November 18th. Citigroup downgraded Futu from a “buy” rating to a “neutral” rating and upped their price target for the stock from $79.00 to $95.00 in a research note on Tuesday, November 19th. Finally, Bank of America lifted their price objective on shares of Futu from $80.20 to $90.00 and gave the company a “buy” rating in a research report on Friday, September 27th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $87.33.

Futu Price Performance

Shares of FUTU stock opened at $83.76 on Wednesday. The company has a market cap of $11.54 billion, a PE ratio of 20.53, a price-to-earnings-growth ratio of 0.86 and a beta of 0.75. The stock’s 50 day simple moving average is $93.90 and its two-hundred day simple moving average is $75.91. Futu Holdings Limited has a 1 year low of $43.61 and a 1 year high of $130.50.

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.