KBC Group NV Has $3.18 Million Holdings in Futu Holdings Limited (NASDAQ:FUTU)

KBC Group NV trimmed its stake in shares of Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 16.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,291 shares of the company's stock after selling 6,342 shares during the quarter. KBC Group NV's holdings in Futu were worth $3,184,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of FUTU. APG Asset Management N.V. bought a new stake in shares of Futu during the 2nd quarter valued at about $496,000. Valliance Asset Management Ltd bought a new stake in shares of Futu in the 3rd quarter worth approximately $956,000. Sei Investments Co. boosted its position in Futu by 261.3% during the 2nd quarter. Sei Investments Co. now owns 25,351 shares of the company's stock valued at $1,663,000 after purchasing an additional 18,334 shares during the period. Seven Eight Capital LP acquired a new stake in Futu in the second quarter worth $1,956,000. Finally, WT Asset Management Ltd bought a new stake in Futu in the third quarter valued at $1,435,000.

Futu Stock Performance

Shares of NASDAQ FUTU traded up $3.43 during mid-day trading on Monday, reaching $92.51. 1,850,313 shares of the company traded hands, compared to its average volume of 2,352,102. The stock has a market cap of $12.75 billion, a PE ratio of 23.02, a price-to-earnings-growth ratio of 0.93 and a beta of 0.75. Futu Holdings Limited has a fifty-two week low of $43.61 and a fifty-two week high of $130.50. The company's fifty day moving average is $90.00 and its two-hundred day moving average is $75.15.

Futu (NASDAQ:FUTU - Get Free Report) last released its earnings results on Tuesday, August 20th. The company reported $1.11 earnings per share for the quarter. Futu had a net margin of 39.27% and a return on equity of 16.77%. The business had revenue of $400.73 million during the quarter. Research analysts forecast that Futu Holdings Limited will post 4.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Morgan Stanley upgraded Futu from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $70.00 to $115.00 in a report on Monday. Bank of America upped their target price on Futu from $80.20 to $90.00 and gave the company a "buy" rating in a report on Friday, September 27th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, Futu has an average rating of "Buy" and a consensus target price of $82.26.

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.