Daiwa Securities Group Inc. grew its position in shares of Futu Holdings Limited (NASDAQ:FUTU – Free Report) by 23.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,700 shares of the company’s stock after purchasing an additional 900 shares during the period. Daiwa Securities Group Inc.’s holdings in Futu were worth $308,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. UniSuper Management Pty Ltd boosted its holdings in Futu by 100.0% in 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 period. Allspring Global Investments Holdings LLC acquired a new position in shares of Futu during the second quarter worth about $50,000. Barometer Capital Management Inc. acquired a new position in shares of Futu during the fourth quarter worth about $120,000. SG Americas Securities LLC purchased a new stake in shares of Futu during the second quarter worth approximately $123,000. Finally, Atlas Capital Advisors LLC acquired a new stake in Futu in the second quarter valued at approximately $142,000.
Futu Stock Performance
FUTU opened at $60.37 on Wednesday. The stock has a market capitalization of $8.32 billion, a P/E ratio of 15.97, a price-to-earnings-growth ratio of 0.92 and a beta of 0.72. Futu Holdings Limited has a one year low of $43.61 and a one year high of $81.86. The business’s 50-day simple moving average is $61.21 and its 200-day simple moving average is $63.85.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on the stock. Bank of America increased their price objective on shares of Futu from $77.60 to $80.20 and gave the company a “buy” rating in a research report on Wednesday, August 21st. JPMorgan Chase & Co. upgraded Futu from a “neutral” rating to an “overweight” rating and raised their price target for the company from $62.00 to $92.00 in a research note on Tuesday, May 28th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Futu currently has an average rating of “Moderate Buy” and an average price target of $71.57.
Read Our Latest Research Report on FUTU
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.
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