BOCHK Asset Management Ltd Buys 1,400 Shares of Futu Holdings Limited (NASDAQ:FUTU)

BOCHK Asset Management Ltd boosted its position in Futu Holdings Limited (NASDAQ:FUTU) by 23.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,400 shares of the company’s stock after acquiring an additional 1,400 shares during the period. BOCHK Asset Management Ltd’s holdings in Futu were worth $708,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. UniSuper Management Pty Ltd raised its holdings in shares of Futu by 100.0% during the first quarter. UniSuper Management Pty Ltd now owns 800 shares of the company’s stock valued at $43,000 after purchasing an additional 400 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Futu in the second quarter worth about $50,000. GAMMA Investing LLC increased its position in Futu by 181.5% in the third quarter. GAMMA Investing LLC now owns 594 shares of the company’s stock worth $57,000 after purchasing an additional 383 shares during the last quarter. CWM LLC increased its stake in Futu by 67.7% during the third quarter. CWM LLC now owns 743 shares of the company’s stock worth $71,000 after acquiring an additional 300 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in Futu in the second quarter worth $123,000.

Futu Price Performance

NASDAQ:FUTU traded down $0.73 during trading hours on Thursday, hitting $88.07. 1,101,470 shares of the company were exchanged, compared to its average volume of 2,267,204. The company’s 50 day moving average price is $78.42 and its 200-day moving average price is $70.79. The stock has a market capitalization of $12.14 billion, a price-to-earnings ratio of 23.07, a PEG ratio of 1.65 and a beta of 0.74. Futu Holdings Limited has a 52-week low of $43.61 and a 52-week high of $130.50.

Futu (NASDAQ:FUTU) last released its 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 return on equity of 16.77% and a net margin of 39.27%. On average, equities analysts predict that Futu Holdings Limited will post 4.28 earnings per share for the current year.

Analyst Ratings Changes

Separately, Bank of America raised their price target on Futu from $80.20 to $90.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Futu presently has a consensus rating of “Moderate Buy” and an average target price of $72.97.

Futu 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.