Lifestyle Asset Management Inc. Cuts Stake in Futu Holdings Limited (NASDAQ:FUTU)

Lifestyle Asset Management Inc. lessened its stake in Futu Holdings Limited (NASDAQ:FUTU) by 18.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,400 shares of the company’s stock after selling 973 shares during the quarter. Lifestyle Asset Management Inc.’s holdings in Futu were worth $352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of FUTU. GAMMA Investing LLC raised its holdings in Futu by 181.5% in the third quarter. GAMMA Investing LLC now owns 594 shares of the company’s stock worth $57,000 after buying an additional 383 shares during the last quarter. CWM LLC increased its position 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 acquiring an additional 300 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Futu by 14.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 877 shares of the company’s stock worth $84,000 after acquiring an additional 112 shares during the last quarter. Venturi Wealth Management LLC bought a new position in Futu in the 3rd quarter valued at approximately $92,000. Finally, Janus Henderson Group PLC purchased a new stake in Futu during the 3rd quarter valued at $201,000.

Futu Stock Performance

FUTU stock opened at $92.44 on Friday. The business’s 50-day moving average is $84.47 and its two-hundred day moving average is $79.23. The company has a market cap of $12.74 billion, a price-to-earnings ratio of 22.66, a P/E/G ratio of 0.72 and a beta of 0.75. Futu Holdings Limited has a fifty-two week low of $45.15 and a fifty-two week high of $130.50.

Futu Dividend Announcement

The firm also recently announced a — dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 6th were given a dividend of $2.00 per share. The ex-dividend date was Friday, December 6th.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Bank of America boosted their price target on Futu from $80.20 to $90.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Morgan Stanley upgraded shares of Futu from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $70.00 to $115.00 in a research note on Monday, November 18th. Finally, Citigroup lowered shares of Futu from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $79.00 to $95.00 in a research note on Tuesday, November 19th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $91.40.

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.