Plato Investment Management Ltd bought a new stake in Futu Holdings Limited (NASDAQ:FUTU - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The fund bought 8,209 shares of the company's stock, valued at approximately $784,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FUTU. Janney Montgomery Scott LLC increased its stake in shares of Futu by 24.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 10,318 shares of the company's stock valued at $559,000 after purchasing an additional 2,011 shares in the last quarter. QRG Capital Management Inc. lifted its stake in Futu by 8.2% in the 1st quarter. QRG Capital Management Inc. now owns 12,130 shares of the company's stock valued at $657,000 after buying an additional 919 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Futu by 3.7% during the 1st quarter. Russell Investments Group Ltd. now owns 13,422 shares of the company's stock worth $727,000 after buying an additional 484 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new position in shares of Futu in the first quarter valued at approximately $5,415,000. Finally, O Shaughnessy Asset Management LLC increased its position in shares of Futu by 3.2% during the first quarter. O Shaughnessy Asset Management LLC now owns 11,123 shares of the company's stock worth $602,000 after purchasing an additional 343 shares in the last quarter.
Analysts Set New Price Targets
Separately, Bank of America increased their target price on shares of Futu from $80.20 to $90.00 and gave the company a "buy" rating in a research report on Friday, September 27th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Futu has a consensus rating of "Moderate Buy" and a consensus target price of $72.97.
Check Out Our Latest Report on Futu
Futu Stock Up 0.5 %
NASDAQ:FUTU traded up $0.40 on Friday, hitting $89.08. The stock had a trading volume of 1,259,407 shares, compared to its average volume of 2,354,344. The stock has a market cap of $12.27 billion, a price-to-earnings ratio of 22.91, a PEG ratio of 0.94 and a beta of 0.75. The company has a fifty day moving average price of $89.39 and a two-hundred day moving average price of $74.83. Futu Holdings Limited has a 1-year low of $43.61 and a 1-year high of $130.50.
Futu (NASDAQ:FUTU - Get Free Report) last posted its quarterly earnings data on Tuesday, August 20th. The company reported $1.11 earnings per share for the quarter. The firm had revenue of $400.73 million during the quarter. Futu had a net margin of 39.27% and a return on equity of 16.77%. As a group, analysts anticipate that Futu Holdings Limited will post 4.75 earnings per share for the current year.
Futu Profile
(
Free Report)
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.
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