Monolith Management Ltd Purchases New Holdings in Futu Holdings Limited (NASDAQ:FUTU)

Monolith Management Ltd acquired a new position in Futu Holdings Limited (NASDAQ:FUTU) in the 3rd quarter, HoldingsChannel reports. The fund acquired 65,000 shares of the company’s stock, valued at approximately $6,217,000. Futu accounts for about 3.6% of Monolith Management Ltd’s holdings, making the stock its 10th biggest position.

Several other large investors have also modified their holdings of FUTU. UniSuper Management Pty Ltd boosted its position in Futu by 100.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 800 shares of the company’s stock valued at $43,000 after buying an additional 400 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of Futu during the second quarter valued at approximately $50,000. GAMMA Investing LLC boosted its holdings in shares of Futu by 181.5% in the third 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 period. CWM LLC grew its stake in Futu by 67.7% in the third quarter. CWM LLC now owns 743 shares of the company’s stock worth $71,000 after purchasing an additional 300 shares in the last quarter. Finally, Venturi Wealth Management LLC bought a new stake in Futu during the 3rd quarter valued at $92,000.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on FUTU shares. Bank of America raised their price target on Futu from $80.20 to $90.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Morgan Stanley raised shares of 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 research note on Monday, November 18th. Finally, Citigroup downgraded Futu from a “buy” rating to a “neutral” rating and lifted their price target for the company from $79.00 to $95.00 in a report on Tuesday, November 19th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Futu presently has an average rating of “Moderate Buy” and an average price target of $87.33.

Futu Trading Down 0.6 %

Shares of FUTU stock opened at $84.22 on Monday. Futu Holdings Limited has a 12-month low of $43.61 and a 12-month high of $130.50. The business’s fifty day simple moving average is $92.90 and its 200-day simple moving average is $75.71. The company has a market cap of $11.60 billion, a PE ratio of 20.64, a PEG ratio of 0.86 and a beta of 0.75.

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.