Intech Investment Management LLC Has $532,000 Stock Holdings in Futu Holdings Limited (NASDAQ:FUTU)

Intech Investment Management LLC cut its position in Futu Holdings Limited (NASDAQ:FUTU) by 88.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,558 shares of the company’s stock after selling 43,465 shares during the quarter. Intech Investment Management LLC’s holdings in Futu were worth $532,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of Futu by 181.5% in the 3rd quarter. GAMMA Investing LLC now owns 594 shares of the company’s stock valued at $57,000 after purchasing an additional 383 shares during the last quarter. CWM LLC grew its holdings 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 during the period. Allspring Global Investments Holdings LLC acquired a new position in Futu in the second quarter valued at approximately $50,000. Venturi Wealth Management LLC bought a new position in Futu during the third quarter worth $92,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Futu in the 2nd quarter valued at about $123,000.

Futu Stock Performance

Shares of NASDAQ:FUTU opened at $87.23 on Monday. Futu Holdings Limited has a 52-week low of $43.61 and a 52-week high of $130.50. The stock has a market capitalization of $12.02 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 0.89 and a beta of 0.75. The stock’s 50-day simple moving average is $95.24 and its two-hundred day simple moving average is $76.19.

Futu Announces Dividend

The firm also recently declared a — dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 6th will be paid a $2.00 dividend. The ex-dividend date is Friday, December 6th.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on FUTU shares. 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 report on Tuesday, November 19th. Bank of America raised their price target on shares of Futu from $80.20 to $90.00 and gave the company a “buy” rating in a report on Friday, September 27th. Finally, 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 investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $87.33.

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.