Sumitomo Mitsui Trust Group Inc. Has $11.25 Million Position in Futu Holdings Limited (NASDAQ:FUTU)

Sumitomo Mitsui Trust Group Inc. raised its position in Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 14.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 117,561 shares of the company's stock after buying an additional 15,127 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.09% of Futu worth $11,245,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of FUTU. Marshall Wace LLP increased its holdings in Futu by 71.5% in the 2nd quarter. Marshall Wace LLP now owns 1,521,314 shares of the company's stock valued at $99,813,000 after buying an additional 634,369 shares during the period. E Fund Management Co. Ltd. bought a new stake in shares of Futu during the 2nd quarter valued at approximately $31,490,000. Veritas Asset Management LLP bought a new stake in shares of Futu during the 3rd quarter valued at approximately $39,547,000. Yong Rong HK Asset Management Ltd grew its holdings in shares of Futu by 2,525.3% during the 3rd quarter. Yong Rong HK Asset Management Ltd now owns 393,800 shares of the company's stock valued at $37,667,000 after purchasing an additional 378,800 shares during the last quarter. Finally, National Bank of Canada FI grew its holdings in shares of Futu by 3,253,333.3% during the 2nd quarter. National Bank of Canada FI now owns 292,809 shares of the company's stock valued at $18,790,000 after purchasing an additional 292,800 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Morgan Stanley raised shares of Futu from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $70.00 to $115.00 in a report on Monday. Bank of America lifted their target price on shares of Futu from $80.20 to $90.00 and gave the stock a "buy" rating in a research report on Friday, September 27th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Futu presently has a consensus rating of "Buy" and an average target price of $82.26.

Futu Trading Up 3.6 %

NASDAQ:FUTU traded up $3.22 during mid-day trading on Monday, hitting $92.30. 2,166,624 shares of the company's stock were exchanged, compared to its average volume of 2,353,481. The firm has a market capitalization of $12.72 billion, a P/E ratio of 23.85, a PEG 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 has a 50 day simple moving average of $90.66 and a 200-day simple moving average of $75.29.

Futu (NASDAQ:FUTU - Get Free Report) last issued its quarterly earnings results on Tuesday, August 20th. The company reported $1.11 earnings per share (EPS) for the quarter. The firm had revenue of $400.73 million for the quarter. Futu had a net margin of 39.27% and a return on equity of 16.77%. As a group, analysts expect that Futu Holdings Limited will post 4.75 earnings per share 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.