Futu Holdings Limited (NASDAQ:FUTU) Stake Reduced by Penserra Capital Management LLC

Penserra Capital Management LLC decreased its holdings in shares of Futu Holdings Limited (NASDAQ:FUTU) by 9.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 23,928 shares of the company’s stock after selling 2,528 shares during the period. Penserra Capital Management LLC’s holdings in Futu were worth $2,288,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in FUTU. Allspring Global Investments Holdings LLC grew its position in 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 buying an additional 112 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Futu by 4.3% in the 3rd quarter. CIBC Asset Management Inc now owns 5,403 shares of the company’s stock worth $517,000 after acquiring an additional 222 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of Futu by 3.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 7,346 shares of the company’s stock worth $394,000 after purchasing an additional 230 shares during the period. Signaturefd LLC raised its position in shares of Futu by 8.4% during the second quarter. Signaturefd LLC now owns 3,205 shares of the company’s stock worth $210,000 after purchasing an additional 247 shares during the period. Finally, CWM LLC lifted its holdings in shares of Futu by 67.7% during the third quarter. CWM LLC now owns 743 shares of the company’s stock valued at $71,000 after purchasing an additional 300 shares during the last quarter.

Futu Stock Performance

Futu stock opened at $84.00 on Tuesday. Futu Holdings Limited has a twelve month low of $43.61 and a twelve month high of $130.50. The firm has a market cap of $11.57 billion, a PE ratio of 20.59, a P/E/G ratio of 0.86 and a beta of 0.75. The firm’s 50 day moving average price is $93.43 and its two-hundred day moving average price is $75.81.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FUTU. Morgan Stanley upgraded 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 report on Monday, November 18th. Citigroup downgraded shares of Futu from a “buy” rating to a “neutral” rating and upped their price target for the company from $79.00 to $95.00 in a research report 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 stock a “buy” rating in a research report on Friday, September 27th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $87.33.

Futu Company 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.