2,831 Shares in Futu Holdings Limited (NASDAQ:FUTU) Bought by E Fund Management Hong Kong Co. Ltd.

E Fund Management Hong Kong Co. Ltd. acquired a new position in Futu Holdings Limited (NASDAQ:FUTU) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 2,831 shares of the company’s stock, valued at approximately $271,000. Futu accounts for approximately 0.2% of E Fund Management Hong Kong Co. Ltd.’s investment portfolio, making the stock its 26th largest holding.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings 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 in the last quarter. CWM LLC boosted its holdings in Futu by 67.7% during the third quarter. CWM LLC now owns 743 shares of the company’s stock valued at $71,000 after acquiring an additional 300 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Futu during the second quarter valued at about $50,000. UniSuper Management Pty Ltd boosted its holdings in 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 acquiring an additional 400 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Futu during the second quarter valued at about $123,000.

Wall Street Analyst Weigh In

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 report on Friday, September 27th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $72.97.

Futu Stock Performance

Shares of FUTU opened at $96.14 on Thursday. The company has a 50-day simple moving average of $81.70 and a 200-day simple moving average of $72.04. The firm has a market capitalization of $13.25 billion, a P/E ratio of 24.84, a P/E/G ratio of 0.97 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 announced its quarterly earnings data on Tuesday, August 20th. The company reported $1.11 EPS 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%. As a group, equities analysts forecast that Futu Holdings Limited will post 4.78 earnings per share for the current year.

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.