Phase 2 Partners LLC Decreases Holdings in Futu Holdings Limited (NASDAQ:FUTU)

Phase 2 Partners LLC trimmed its stake in Futu Holdings Limited (NASDAQ:FUTU) by 57.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,355 shares of the company’s stock after selling 79,921 shares during the quarter. Futu makes up 3.4% of Phase 2 Partners LLC’s holdings, making the stock its 15th biggest position. Phase 2 Partners LLC’s holdings in Futu were worth $5,677,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. GAMMA Investing LLC grew its holdings in Futu by 181.5% during 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 lifted its position in shares of Futu by 67.7% during the 3rd quarter. CWM LLC now owns 743 shares of the company’s stock valued at $71,000 after buying an additional 300 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Futu during the 2nd quarter worth $50,000. Venturi Wealth Management LLC bought a new position in shares of Futu during the 3rd quarter worth $92,000. Finally, SG Americas Securities LLC purchased a new stake in Futu in the 2nd quarter worth about $123,000.

Wall Street Analyst Weigh In

Several research firms have commented on FUTU. Citigroup downgraded shares of Futu from a “buy” rating to a “neutral” rating and upped their price objective for the company from $79.00 to $95.00 in a report on Tuesday, November 19th. Morgan Stanley raised shares of Futu from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $70.00 to $115.00 in a report on Monday, November 18th. Finally, Bank of America boosted their target price on shares of Futu from $80.20 to $90.00 and gave the company a “buy” rating in a report on Friday, September 27th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Futu currently has an average rating of “Moderate Buy” and a consensus price target of $87.33.

Futu Trading Up 3.4 %

FUTU stock opened at $88.22 on Wednesday. The firm has a 50 day moving average of $95.86 and a 200-day moving average of $76.30. The firm has a market capitalization of $12.16 billion, a P/E ratio of 21.62, a price-to-earnings-growth ratio of 0.87 and a beta of 0.72. Futu Holdings Limited has a 12 month low of $43.61 and a 12 month high of $130.50.

Futu Dividend Announcement

The company also recently declared a — dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 6th will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, December 6th.

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.