Blue Trust Inc. Has $850,000 Stock Holdings in Futu Holdings Limited (NASDAQ:FUTU)

Blue Trust Inc. lifted its stake in shares of Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 242.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,889 shares of the company's stock after purchasing an additional 6,291 shares during the period. Blue Trust Inc.'s holdings in Futu were worth $850,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. APG Asset Management N.V. acquired a new position in Futu in the second quarter valued at approximately $496,000. Sei Investments Co. lifted its holdings in Futu by 261.3% in the second quarter. Sei Investments Co. now owns 25,351 shares of the company's stock valued at $1,663,000 after buying an additional 18,334 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in Futu in the first quarter valued at approximately $747,000. Seven Eight Capital LP acquired a new position in Futu in the second quarter valued at approximately $1,956,000. Finally, Canada Pension Plan Investment Board lifted its holdings in Futu by 221.4% in the second quarter. Canada Pension Plan Investment Board now owns 90,000 shares of the company's stock valued at $5,904,000 after buying an additional 62,000 shares during the period.

Wall Street Analyst Weigh In

Separately, Bank of America increased their price objective on shares of Futu from $80.20 to $90.00 and gave the company a "buy" rating in a 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 company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $72.97.

Futu Trading Down 1.0 %

Shares of FUTU stock traded down $0.93 during trading hours on Monday, hitting $92.33. 2,221,102 shares of the company were exchanged, compared to its average volume of 2,264,170. The business has a 50 day moving average of $77.24 and a two-hundred day moving average of $70.41. Futu Holdings Limited has a 52 week low of $43.61 and a 52 week high of $130.50. The company has a market capitalization of $12.72 billion, a PE ratio of 24.43, a PEG ratio of 1.65 and a beta of 0.74.

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. The business 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%. On average, research analysts forecast that Futu Holdings Limited will post 4.28 EPS for the current year.

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.