Aviva PLC Sells 24,671 Shares of Futu Holdings Limited (NASDAQ:FUTU)

Aviva PLC trimmed its holdings in shares of Futu Holdings Limited (NASDAQ:FUTUGet Rating) by 64.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 13,786 shares of the company’s stock after selling 24,671 shares during the quarter. Aviva PLC’s holdings in Futu were worth $560,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of FUTU. BlackRock Inc. increased its position in Futu by 9.3% during the first quarter. BlackRock Inc. now owns 2,586,169 shares of the company’s stock worth $84,204,000 after acquiring an additional 220,500 shares during the period. Vontobel Holding Ltd. acquired a new stake in Futu during the first quarter worth about $326,000. Ergoteles LLC grew its stake in Futu by 564.5% during the first quarter. Ergoteles LLC now owns 168,628 shares of the company’s stock worth $5,491,000 after buying an additional 143,252 shares in the last quarter. USS Investment Management Ltd acquired a new stake in Futu during the first quarter worth about $742,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Futu by 15.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 28,268 shares of the company’s stock worth $921,000 after buying an additional 3,800 shares in the last quarter. 19.92% of the stock is owned by institutional investors.

Futu Price Performance

NASDAQ:FUTU opened at $38.09 on Monday. The firm’s 50 day simple moving average is $45.74 and its 200 day simple moving average is $50.03. Futu Holdings Limited has a one year low of $28.00 and a one year high of $72.20. The company has a market cap of $5.73 billion, a PE ratio of 14.59, a P/E/G ratio of 6.00 and a beta of 0.79.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on FUTU shares. JPMorgan Chase & Co. downgraded shares of Futu from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $65.00 to $46.00 in a research note on Wednesday, May 17th. Morgan Stanley downgraded shares of Futu from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $44.00 to $34.00 in a research note on Thursday. Three analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $47.59.

About Futu

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Futu Holdings Ltd. is an advanced technology company, which engages in providing fully digitalized financial services. It provides investing services through its proprietary digital platforms, Futubull and moomoo that allows investors to trade securities and invest in fund products. The company was founded by Leaf Hua Li in December 2007 and is headquartered in Hong Kong.

Further Reading

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Institutional Ownership by Quarter for Futu (NASDAQ:FUTU)

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