WT Asset Management Ltd Makes New Investment in Futu Holdings Limited (NASDAQ:FUTU)

WT Asset Management Ltd purchased a new stake in shares of Futu Holdings Limited (NASDAQ:FUTU - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 15,000 shares of the company's stock, valued at approximately $1,435,000. Futu makes up approximately 0.3% of WT Asset Management Ltd's portfolio, making the stock its 20th biggest position.

Several other large investors have also recently modified their holdings of FUTU. UniSuper Management Pty Ltd lifted its position in Futu by 100.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 800 shares of the company's stock valued at $43,000 after acquiring an additional 400 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Futu in the second quarter worth $50,000. GAMMA Investing LLC lifted its holdings in shares of Futu by 181.5% during the third quarter. GAMMA Investing LLC now owns 594 shares of the company's stock valued at $57,000 after purchasing an additional 383 shares in the last quarter. CWM LLC boosted its position in shares of Futu by 67.7% during the third quarter. CWM LLC now owns 743 shares of the company's stock valued at $71,000 after buying an additional 300 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in Futu in the 2nd quarter worth about $123,000.

Futu Stock Up 0.1 %

NASDAQ:FUTU traded up $0.09 during trading hours on Friday, hitting $95.08. 2,058,762 shares of the stock traded hands, compared to its average volume of 2,284,920. The company has a market cap of $13.10 billion, a price-to-earnings ratio of 24.95, a price-to-earnings-growth ratio of 1.00 and a beta of 0.74. Futu Holdings Limited has a 1 year low of $43.61 and a 1 year high of $130.50. The stock has a 50 day moving average price of $82.35 and a 200 day moving average price of $72.20.

Futu (NASDAQ:FUTU - Get Free Report) last issued 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 company had revenue of $400.73 million during the quarter. Equities analysts forecast that Futu Holdings Limited will post 4.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Bank of America upped their target price 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 investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Futu presently has an average rating of "Moderate Buy" and an average price target of $72.97.

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.