Citigroup Inc. Boosts Holdings in Futu Holdings Limited (NASDAQ:FUTU)

Citigroup Inc. boosted its position in shares of Futu Holdings Limited (NASDAQ:FUTU) by 31.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 215,419 shares of the company’s stock after purchasing an additional 51,765 shares during the quarter. Citigroup Inc. owned about 0.16% of Futu worth $20,605,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its stake 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 buying an additional 112 shares in the last quarter. CIBC Asset Management Inc lifted its position in Futu by 4.3% in the 3rd quarter. CIBC Asset Management Inc now owns 5,403 shares of the company’s stock valued at $517,000 after acquiring an additional 222 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Futu by 3.2% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 7,346 shares of the company’s stock valued at $394,000 after purchasing an additional 230 shares during the last quarter. Signaturefd LLC boosted 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 valued at $210,000 after buying an additional 247 shares during the last quarter. Finally, CWM LLC increased its holdings in Futu by 67.7% in the 3rd quarter. CWM LLC now owns 743 shares of the company’s stock worth $71,000 after buying an additional 300 shares in the last quarter.

Futu Stock Down 0.3 %

Futu stock opened at $83.76 on Wednesday. The company’s 50-day moving average price is $93.90 and its 200-day moving average price is $75.91. 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. Futu Holdings Limited has a twelve month low of $43.61 and a twelve month high of $130.50.

Analysts Set New Price Targets

FUTU has been the subject of several research analyst reports. Bank of America lifted their price objective on Futu from $80.20 to $90.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Citigroup lowered Futu from a “buy” rating to a “neutral” rating and increased their price target for the stock from $79.00 to $95.00 in a research note on Tuesday, November 19th. Finally, Morgan Stanley upgraded shares of Futu from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $70.00 to $115.00 in a report on Monday, November 18th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $87.33.

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.