Creative Planning Grows Holdings in Futu Holdings Limited (NASDAQ:FUTU)

Creative Planning increased its position in Futu Holdings Limited (NASDAQ:FUTU) by 27.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,253 shares of the company’s stock after purchasing an additional 2,884 shares during the quarter. Creative Planning’s holdings in Futu were worth $869,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of FUTU. Allspring Global Investments Holdings LLC purchased a new position in shares of Futu during the second quarter valued at $50,000. UniSuper Management Pty Ltd raised its holdings in shares of 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 purchasing an additional 400 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Futu in the 2nd quarter worth approximately $123,000. Atlas Capital Advisors LLC purchased a new position in Futu during the second quarter valued at approximately $142,000. Finally, Blue Trust Inc. raised its stake in Futu by 1,868.2% in the second quarter. Blue Trust Inc. now owns 2,598 shares of the company’s stock worth $170,000 after buying an additional 2,466 shares in the last quarter.

Wall Street Analysts Forecast Growth

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

Futu Trading Up 3.6 %

NASDAQ FUTU opened at $111.02 on Friday. Futu Holdings Limited has a 12-month low of $43.61 and a 12-month high of $130.50. The firm’s fifty day simple moving average is $72.71 and its two-hundred day simple moving average is $68.51. The firm has a market capitalization of $15.30 billion, a P/E ratio of 28.69, a P/E/G ratio of 1.65 and a beta of 0.74.

Futu (NASDAQ:FUTU) last announced its earnings results on Tuesday, August 20th. The company reported $1.11 earnings per share (EPS) for the quarter. Futu had a return on equity of 16.77% and a net margin of 39.27%. The company had revenue of $400.73 million for the quarter. As a group, sell-side analysts predict that Futu Holdings Limited will post 4.28 earnings per share for the current fiscal year.

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.