Hsbc Holdings PLC Sells 314 Shares of Futu Holdings Limited (NASDAQ:FUTU)

Posted by on Feb 26th, 2023

Hsbc Holdings PLC lowered its stake in shares of Futu Holdings Limited (NASDAQ:FUTU – Get Rating) by 0.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,934 shares of the company’s stock after selling 314 shares during the quarter. Hsbc Holdings PLC owned 0.07% of Futu worth $3,690,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Prudential PLC purchased a new stake in shares of Futu during the 3rd quarter valued at $4,832,000. Mitsubishi UFJ Trust & Banking Corp grew its position in Futu by 9.1% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 32,366 shares of the company’s stock valued at $1,207,000 after buying an additional 2,702 shares during the period. Taikang Asset Management Hong Kong Co Ltd bought a new position in Futu during the third quarter valued at about $16,817,000. Toronto Dominion Bank grew its position in Futu by 26.0% during the third quarter. Toronto Dominion Bank now owns 7,163 shares of the company’s stock valued at $267,000 after buying an additional 1,476 shares during the period. Finally, Signaturefd LLC grew its position in Futu by 25.8% during the third quarter. Signaturefd LLC now owns 2,752 shares of the company’s stock valued at $103,000 after buying an additional 565 shares during the period. Institutional investors own 19.92% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Credit Suisse Group lowered shares of Futu from an “outperform” rating to a “neutral” rating and increased their price target for the company from $61.00 to $64.00 in a research report on Friday, December 16th. CLSA lowered shares of Futu from a “buy” rating to a “reduce” rating and set a $43.00 price target for the company. in a research report on Tuesday, January 3rd. TheStreet upgraded shares of Futu from a “c+” rating to a “b-” rating in a research report on Thursday, December 15th. Finally, Bank of America lowered shares of Futu from a “buy” rating to an “underperform” rating and cut their target price for the stock from $59.60 to $27.00 in a research report on Friday, December 30th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Futu currently has an average rating of “Hold” and an average target price of $52.52.

Futu Stock Up 1.9 %

Shares of NASDAQ:FUTU opened at $45.67 on Friday. The firm has a market capitalization of $6.87 billion, a PE ratio of 21.14, a P/E/G ratio of 7.17 and a beta of 0.78. Futu Holdings Limited has a twelve month low of $21.23 and a twelve month high of $72.20. The company has a 50-day moving average price of $51.03 and a two-hundred day moving average price of $47.30.

Futu Profile

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Futu Holdings Ltd. is an advanced technology company, which engages in online brokerage and wealth management services. It provides investing services through its proprietary digital platforms, Futubull and moomoo that allows investors to trade securities and invest in fund products. The firm’s fee-generating services include trade execution, as well as margin financing and securities lending, which allow its clients to trade securities, such as stocks, ETFs, warrants, options and futures, across different markets.

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Institutional Ownership by Quarter for Futu (NASDAQ:FUTU)

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