Futu (NASDAQ:FUTU) Shares Down 4.2% - What's Next?

Futu Holdings Limited (NASDAQ:FUTU - Get Free Report)'s share price fell 4.2% on Monday . The stock traded as low as $105.51 and last traded at $106.38. 3,894,600 shares were traded during trading, an increase of 78% from the average session volume of 2,184,015 shares. The stock had previously closed at $111.02.

Wall Street Analysts Forecast Growth

Separately, Bank of America upped their price target on shares of Futu from $80.20 to $90.00 and gave the company a "buy" rating in a research note on Friday, September 27th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $72.97.

Futu Stock Performance

The stock has a market cap of $14.65 billion, a P/E ratio of 29.37, a P/E/G ratio of 1.65 and a beta of 0.74. The stock's fifty day simple moving average is $72.71 and its 200-day simple moving average is $68.72.

Futu (NASDAQ:FUTU - Get Free Report) last posted its quarterly earnings data on Tuesday, August 20th. The company reported $1.11 earnings per share (EPS) 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, equities research analysts forecast that Futu Holdings Limited will post 4.28 earnings per share for the current year.

Institutional Trading of Futu

A number of institutional investors and hedge funds have recently made changes to their positions in the company. APG Asset Management N.V. acquired a new position in Futu during the 2nd quarter worth approximately $496,000. Sei Investments Co. increased its position in Futu by 261.3% during the 2nd quarter. Sei Investments Co. now owns 25,351 shares of the company's stock worth $1,663,000 after purchasing an additional 18,334 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Futu during the 1st quarter worth approximately $747,000. Seven Eight Capital LP acquired a new position in Futu during the 2nd quarter worth approximately $1,956,000. Finally, Canada Pension Plan Investment Board increased its position in Futu by 221.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 90,000 shares of the company's stock worth $5,904,000 after purchasing an additional 62,000 shares in the last quarter.

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.

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