Lifestyle Asset Management Inc. Sells 973 Shares of Futu Holdings Limited (NASDAQ:FUTU)

Lifestyle Asset Management Inc. lowered its stake in Futu Holdings Limited (NASDAQ:FUTU) by 18.1% during the 4th quarter, Holdings Channel reports. The institutional investor 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 & Exchange Commission.

A number of other large investors have also recently made changes to their positions in FUTU. GAMMA Investing LLC increased its holdings in Futu by 181.5% in the 3rd quarter. GAMMA Investing LLC now owns 594 shares of the company’s stock worth $57,000 after acquiring an additional 383 shares in the last quarter. CWM LLC boosted its position in shares of 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 during the period. Allspring Global Investments Holdings LLC increased 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 purchasing an additional 112 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in shares of Futu during the 3rd quarter valued at $92,000. Finally, Janus Henderson Group PLC purchased a new position in shares of Futu during the 3rd quarter valued at $201,000.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FUTU. Bank of America increased 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 raised Futu from an “equal weight” rating to an “overweight” rating and lifted 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 increased their price objective for the company from $79.00 to $95.00 in a report on Tuesday, November 19th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $91.40.

Futu Trading Up 3.6 %

Shares of Futu stock opened at $92.44 on Friday. The firm has a market cap of $12.74 billion, a PE ratio of 22.66, a PEG ratio of 0.72 and a beta of 0.75. Futu Holdings Limited has a 12 month low of $45.15 and a 12 month high of $130.50. The stock has a 50 day moving average of $84.47 and a 200 day moving average of $79.23.

Futu Announces Dividend

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

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.