Caisse DE Depot ET Placement DU Quebec Increases Stake in Futu Holdings Limited (NASDAQ:FUTU)

Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Futu Holdings Limited (NASDAQ:FUTU) by 109.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 410,524 shares of the company’s stock after purchasing an additional 214,135 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned approximately 0.30% of Futu worth $39,267,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its holdings in Futu by 19.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,187 shares of the company’s stock worth $552,000 after buying an additional 1,687 shares during the period. California State Teachers Retirement System grew its position in shares of Futu by 1.4% in the first quarter. California State Teachers Retirement System now owns 69,289 shares of the company’s stock valued at $3,752,000 after purchasing an additional 960 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Futu during the 1st quarter valued at $325,000. DekaBank Deutsche Girozentrale lifted its holdings in Futu by 3.2% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 7,346 shares of the company’s stock worth $394,000 after purchasing an additional 230 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its stake in Futu by 6.8% in the 2nd quarter. QRG Capital Management Inc. now owns 12,954 shares of the company’s stock worth $850,000 after purchasing an additional 824 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Citigroup lowered shares of Futu from a “buy” rating to a “neutral” rating and raised their price objective for the company from $79.00 to $95.00 in a research report on Tuesday, November 19th. Bank of America raised their price target on shares of Futu from $80.20 to $90.00 and gave the company a “buy” rating in a report on Friday, September 27th. Finally, Morgan Stanley raised shares of Futu from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $70.00 to $115.00 in a report on Monday, November 18th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $87.33.

Futu Stock Performance

NASDAQ FUTU opened at $87.23 on Monday. The company has a market capitalization of $12.02 billion, a P/E ratio of 21.38, a P/E/G ratio of 0.89 and a beta of 0.75. Futu Holdings Limited has a 52-week low of $43.61 and a 52-week high of $130.50. The company has a fifty day moving average of $95.24 and a 200-day moving average of $76.19.

Futu Dividend Announcement

The company also recently disclosed 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 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.